Living in Algoma, Mississippi
Cost of living, income, home prices, rent and demographics of Algoma · Census data 2020–2024
Algoma has 897 residents with a median age of 36.7. The median household income is $58,125 (about the same as the Mississippi median), the median home value is $186,500, the median rent is $864/month.
Algoma is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Algoma at a glance
- Population
- 897
- Median age
- 36.7State: 38.6
- Median household income
- $58,125State: $56,447
- Median home value
- $186,500State: $169,800
- Median rent
- $864/moState: $954
- Homeowners
- 89.4%
- Bachelor's degree or higher
- 28.6%
- Average commute
- 24 min
Is Algoma a good place to live?
Pros: Median household income about the same as the Mississippi median; an average commute of 24 minutes; unemployment of 3%; a poverty rate of 5%.
Cons: Home values 10% higher than the state median.
The weather is best in April–May and September–October.
Cost of living in Algoma
Housing is the biggest part of the cost of living. In Algoma the median home value is $186,500, 44% lower than the U.S. median. Renters pay a median of $864 per month, which is 21.3% of household income. Homeowners with a mortgage pay $1,170 a month in housing costs.
Algoma median household income
The median household income in Algoma is $58,125 and the income per person is $35,574. 5% of residents live below the poverty line (Mississippi: 18.9%).
Housing in Algoma: homes for sale and rent
- Housing units
- 413
- Owner-occupied
- 89.4%
- Renter-occupied
- 10.6%
- Vacant
- 11.1%Includes seasonal homes
- Median year built
- 1998
- Average household size
- 2.44
Algoma demographics
- Population
- 897
- Median age
- 36.7
- Under 18
- 23.5%
- 65 and older
- 15.4%
- Households
- 367
- Foreign-born
- 0.2%
- Veterans
- 4.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Algoma ›
Education in Algoma
28.6% of adults 25 and older in Algoma have a bachelor's degree or higher (Mississippi: 25.1%), and 10.6% have a graduate or professional degree.
Jobs and commute in Algoma
- Unemployment rate
- 3%State: 5.8%
- Average commute
- 24 minState: 26 min
- Work from home
- 4.3%
- Drive alone
- 91.8%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 83.7%
Algoma vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Algoma | 897 | $58,125 | $186,500 | $864 |
| Pontotoc | 5,806 | $46,167 | $155,800 | $803 |
| Randolph | 613 | $48,029 | $218,700 | — |
| New Houlka | 702 | $46,705 | $85,100 | $756 |
| Toccopola | 280 | $39,083 | $97,600 | $975 |
| Thaxton | 688 | $77,500 | $231,500 | $820 |
| Ecru | 1,550 | $65,000 | $196,700 | $797 |
| Sherman | 545 | $52,404 | $158,900 | $982 |
| Blue Springs | 268 | $44,286 | $158,300 | $733 |
More for people moving to Algoma
Algoma ZIP code ›Weather and climate ›Living in Algoma: FAQ
What is the median household income in Algoma, MS?
The median household income in Algoma is $58,125, about the same as the Mississippi median of $56,447 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Algoma?
The median home value in Algoma is $186,500, compared with $169,800 in Mississippi.
How much is rent in Algoma?
The median gross rent in Algoma is $864 per month, about 21.3% of household income.
Is Algoma, MS a good place to live?
Pluses: median household income about the same as the Mississippi median; an average commute of 24 minutes; unemployment of 3%; a poverty rate of 5%. Minuses: home values 10% higher than the state median.
What is the median age in Algoma?
The median age in Algoma is 36.7 years (Mississippi: 38.6).
How long is the commute in Algoma?
The average commute to work in Algoma is 24 minutes; 4.3% of workers work from home.
What is the unemployment rate in Algoma?
The unemployment rate in Algoma is 3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Algoma?
28.6% of adults in Algoma have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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