Calculate your monthly mortgage payment in Mississippi. Pre-filled with Mississippi's median home price of $185,000 and an average property tax rate of 0.8%.
Est. Monthly Payment
$1,295
Principal & Interest
$1,095
Property Tax / mo
$123
Total Interest Paid
$227,864
| Home Price | $185,000 | Median home price in Mississippi (2025) |
| Down Payment | 10% ($18,500) | Typical down payment percentage |
| Loan Amount | $166,500 | Home price minus down payment |
| Interest Rate | 6.89% | Approximate 30-year fixed rate (2025 avg) |
| Loan Term | 30 years | Most common mortgage term |
| Property Tax | 0.8% / year | Mississippi average effective rate |
| Home Insurance | 0.5% / year | Approximate annual premium |
MHC Smart Solution, MHC Mortgage Revenue Bond 6
Cost of living: Low · Population: 2,961,279
Mississippi has a median home price of approximately $185,000, placing it below the national median. With a 10% down payment of $18,500, a typical buyer would finance $166,500 over 30 years. At a 6.89% fixed rate, the monthly principal and interest payment comes to $1,095.
Property taxes in Mississippi average 0.8% of the assessed home value annually — one of the moderate rates in the country. Combined with an estimated $77 for homeowners insurance, your all-in monthly housing cost is approximately $1,295.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $55,520 to qualify comfortably. The median household income in Mississippi is $46,637.
