How Much House Can I Afford in Mississippi?
Find out how much house you can afford in Mississippi with 0.81% property tax. Uses 28/36 rule with Mississippi-specific data.
How This Calculator Works
Calculation methodology and assumptions
Calculates home affordability in Mississippi using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes Mississippi's effective property tax rate of 0.81% and average home insurance of $2,510/year. Median home price in Mississippi: $165,000.
Key State Information
Mississippi housing market: Median home price $165,000 | Property tax rate 0.81% | Avg home insurance $2,510/yr | Median household income $48,610. Home prices are moderate relative to income.
Frequently Asked Questions
How much house can I afford on the median income in Mississippi?
With Mississippi's median household income of $48,610 and a 10% down payment, you can typically afford a home priced around $170,135-$218,745 depending on debts and interest rates. The median home in Mississippi costs $165,000.
What is the property tax rate in Mississippi?
Mississippi's effective property tax rate is 0.81%. On a $165,000 home, that's approximately $1,337/year or $111/month.
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