The Mississippi Senate Race is still at a razor-thin margin while remaining ballots are counted.
Neither Scott Colom (D) or incumbent Senator Cindy Hyde-Smith (R) had emerged as the clear victor in the Mississippi Senate race as of Thursday afternoon.
But regardless of the outcome, housing affordability is a major issue nationwide, and Mississippi's next senator will have on impact on any housing reforms that run through Congress.
Housing in the state looks affordable on paper: The state's median owner-occupied home value was $169,800 from 2020 to 2024, according to the U.S. Census Bureau. But the median household income was just $56,447 during that same period, and more than 17% of residents lived below the poverty line.
That means that, even with relatively low housing costs compared to other states, buying a home in Mississippi often requires much more income than most households earn.
A July 2026 University of Mississippi analysis found that a household needed approximately $74,196 annually to afford the average-priced home in the Jackson metro area under the study's assumptions. That was about 14% more than the area's average household income of $64,835.
Renters in the state are facing a low supply of affordable housing as well: The National Low Income Housing Coalition's 2026 report found that Mississippi had just 62 affordable and available rental homes for every 100 extremely low-income renter households.
Housing affordability was a national focal point in Senate and gubernatorial campaigns this year.
Both candidates have emphasized affordability on the campaign trail, but their approaches differ significantly. Hyde-Smith has backed legislation targeting rural mortgage access and housing construction, while Colom has centered his campaign on increasing wages, reducing taxes and lowering household expenses.
Can More Housing Construction Bring Down Prices?
One way to address Mississippi's housing affordability problem is to build more homes.
Hyde-Smith has focused much of her housing work on boosting construction, while Colom has emphasized household purchasing power.
Hyde-Smith supported the bipartisan 21st Century ROAD to Housing Act, which became law in July 2026.
That legislation includes regulatory reforms, incentives for development of starter homes and changes intended to encourage affordable and manufactured housing construction.
Hyde-Smith has argued that reducing federal regulatory barriers will make it easier and less expensive to build. Her office highlighted provisions affecting rural housing, disaster recovery and investment in designated Opportunity Zones.
Colom's campaign platform focuses on economic reforms meant to make the cost of living more affordable, including housing. That includes cutting back on tariffs, raising the minimum wage to tie it to the cost of living, and cutting federal income taxes for individuals with a low income.
Both approaches address different parts of Mississippi's housing problem. Additional construction could relieve supply constraints over time, while greater household purchasing power could help residents afford housing already on the market.
Would Higher Wages Make Housing More Affordable?
Colom's economic proposals are particularly relevant in a state where household incomes are among the lowest in the country.
He has proposed raising the federal minimum wage above its current $7.25 hourly rate and tying future increases to the cost of living.
According to the National Low Income Housing Coalition, a Mississippi worker needed to earn $20.01 per hour in 2026 to afford a modest two-bedroom rental at fair market rent without spending more than 30% of their income on housing.
Raising wages could help close that gap for some workers. Higher documented earnings could also improve mortgage qualification for prospective buyers, although loan approval would still depend on debts, credit history and other requirements.
Hyde-Smith has emphasized tax reductions and private-sector job creation rather than a higher federal minimum wage. She supported Trump's 2025 tax legislation, which extended individual tax provisions and introduced additional deductions for certain workers.
How Would the Candidates Address Rural Homeownership?
Hyde-Smith cosponsored the bipartisan FARM Home Loans Act of 2026, which would expand eligibility for certain Farm Credit System home loans from communities with populations of 2,500 or fewer to those with up to 10,000 residents.
That proposal could give more rural households access to another source of mortgage financing, although expanded eligibility wouldn't guarantee loan approval or lower interest rates.
Colom's approach to rural affordability focuses more heavily on economic conditions. Alongside wage increases, he has proposed reducing federal income taxes for people earning less than $75,000.
How Do Tariffs Affect Housing Construction Costs?
Tariffs represent a major split between the candidates.
Colom has criticized Trump's tariff policies and called for Congress to reclaim greater authority over trade decisions. His campaign argues that tariffs increase costs for Mississippi households and businesses.
Hyde-Smith has generally supported Trump's use of tariffs as a negotiating tool, although she has also advocated for relief from certain tariffs affecting agricultural producers.
As Mississippi Today reported, tariffs became a major issue in the Senate campaign because of their effects on farmers, businesses and consumers.
Import duties on materials such as lumber, steel and aluminum can raise construction costs. Reducing those duties could lower expenses for some builders, depending on market conditions and how suppliers respond.
What Could Either Candidate Accomplish in Congress?
The Mississippi election will help determine the size of Democrats' Senate majority, but neither candidate will be able to enact legislation on their own.
Most legislation remains subject to the Senate's 60-vote threshold, and President Trump can veto bills that reach his desk.
Hyde-Smith's housing proposals have demonstrated some bipartisan appeal. The ROAD Act passed with broad support, and the FARM Home Loans Act has both Republican and Democratic sponsors.
Colom's proposals involving wages, taxes and health care could face more complicated negotiations, particularly where they would reverse policies supported by the White House. Their effects would also depend on the details of legislation that has not yet been introduced.
The eventual outcome would depend on congressional negotiations, federal funding decisions and implementation.
.jpg?quality=80&width=800)
.jpg?quality=80&width=800)
.jpg?quality=80&width=800)
.jpg?quality=80&width=800)
.jpg?quality=80&width=800)
.jpg?quality=80&width=800)
.jpg?quality=80&width=800)
