Cost of Ownership · Mississippi

The true cost of owning a home in Mississippi

For a median $161,400 home in Mississippi, here is the full monthly cost — not just the mortgage. Built from public data: the state's median home value and effective property-tax rate, its average homeowners premium, and the current 30-year rate. This is a representative example, not a quote.

As of Jul 5, 2026Methodology true-cost-v3

Lender-approved payment

$1,230/mo

PITI + PMI

True monthly cost

$1,365/mo

everything, incl. upkeep

The gap

+$135/mo

what approval leaves out

Principal & interest$911/mo

Property tax$99/mo

Homeowners insurance$159/mo

PMI (LTV > 80%)$61/mo

Maintenance reserve$135/mo

True monthly cost$1,365/mo

Effective property-tax rate

0.74%

Avg. homeowners premium

$1,907/yr

NFIP flood claims on record

64,278

These figures use Mississippi’s median home value and a 10% down payment as a representative example. Your price, rate, and county rate will differ — run your own numbers in the True Cost tool, see how Mississippi ranks on property tax and insurance, or browse every state.