3

Water Valley, MS Homes for Rent

Section Image
  • /6

    $1,000

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 450 Sq Ft
    • Condo for Rent

    312 Market St Unit A, Water Valley, MS 38965

    1BR/1BA duplex located in quiet area on Market Street in Water Valley, MS available now. Unit includes washer, dryer, stove and refrigerator and also central heating and air. Unit is completely newly renovated and features a private deck area (see pictures). Yard work and water are included. Pets are welcome. Rent is $1,000. Deposit is also $1,000. Unit is available starting 06/10/2026. Please

    312 Market St Unit A, Water Valley, MS 38965
  • /19

    $1,800 Per Month

    • 3 Beds
    • 2 Baths
    • 2,015 Sq Ft
    • House for Rent

    108 Blount St, Water Valley, MS 38965

    Charming 1920's home conveniently located near restaurants, a grocery store, and the Water Valley sports complex. This 3BR/2Bath home sits on a large lot with a fenced yard- perfect for outdoor enjoyment. Features include a bright sun porch, hardwood floors, a gas fireplace, classic claw-foot tub, cedar closets, and a spacious utility room. Character, comfort, and convenience all in one great

    108 Blount St, Water Valley, MS 38965
  • /10

    $1,675 Per Month

    • 3 Beds
    • 2 Baths
    • 1,636 Sq Ft
    • House for Rent

    310 Wood St, Water Valley, MS 38965

    3 bedroom 2 bathroom home located at 310 Wood Street in Water Valley, MS. It is a pet friendly residence that is within walking distance of Main Street and many local shops/restaurants. The large, covered front porch is the perfect place for relaxing. This home has central Heat & Air. The City of Water Valley handles the electricity, water, and sewer. CenterPoint Energy provides natural gas to

    310 Wood St, Water Valley, MS 38965

Why Live in Water Valley

Water Valley, Mississippi, is a small, artsy town located less than 20 miles south of Oxford, home to the University of Mississippi. Known for its tight-knit community, Water Valley hosts numerous events such as street dances, music festivals, and the annual Watermelon Carnival, which attracts around 20,000 attendees each August. Housing options in Water Valley include bungalows, ranch-style homes, and farmhouses, generally priced lower than those in nearby Oxford. However, many properties are at a high risk of flooding, and residential streets often lack sidewalks and curbs. The Water Valley School District is rated well, and the University of Mississippi is a short drive away. For outdoor activities, City Park and Baker Street Park offer playgrounds and green spaces, while Enid Lake provides opportunities for fishing, picnics, and camping at George P. Cossar State Park and Water Valley Landing. Dining options include El Charrito’s for Mexican cuisine, Crawdad Hole for Cajun dishes, and Hometown Pizza Café. The B.T.C. Old-Fashioned Grocery and Larson’s Cash Saver cater to grocery needs, with Family Dollar and Dollar General offering additional household goods. The Casey Jones Music Fest in the spring features local musicians, and the Water Valley Arts Council hosts an annual Art Crawl. Medical care is available through Yalobusha Health Services, and Tupelo Regional Airport, about 60 miles away, provides flights to Dallas and Nashville.

Frequently Asked Questions

How much does it cost to rent a home in Water Valley, MS?
The median rent for a home in Water Valley, MS is $1,675 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Water Valley, MS?
To comfortably afford the median rent in Water Valley, MS, a household needs to earn roughly $67,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,675 per month in Water Valley, MS, renters typically need to show $5,025 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Water Valley, MS?
In Water Valley, MS, the price-to-rent ratio is 8.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends in Water Valley, MS

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$1,675
Median Single Family Home Rent
$1,738
Median Condo Rent
$1,000
How to Rent a Home