How much house can I afford on $40,000 in Mississippi?
About $145,000 with 20% down ($115,000 with an FHA loan), using Mississippi's 0.65% property tax rate.
That is $49,182 less than the typical Mississippi home ($194,531), so on $40,000 you'd look at cheaper areas or a smaller home. The payment of $933 covers $782 principal and interest, $78 property tax and $73 insurance.
Counties in Mississippi you can afford on $40,000
39 of 80 counties have a typical home value at or below $145,000. The 25 priciest of them:
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Warren County | $143,982 | +0.4% | 0.8% |
| Wayne County | $143,110 | +21.2% | 0.63% |
| Tippah County | $139,263 | +1.8% | 0.77% |
| Franklin County | $138,221 | +1.7% | 0.73% |
| Chickasaw County | $137,649 | -2.1% | 0.73% |
| Prentiss County | $136,283 | +3.3% | 0.73% |
| Neshoba County | $136,271 | +0.2% | 0.89% |
| Amite County | $135,451 | -9.4% | 0.38% |
| Kemper County | $135,394 | +11.2% | 0.57% |
| Marion County | $133,969 | +4.0% | 0.75% |
| Newton County | $132,704 | -2.1% | 0.73% |
| Jasper County | $132,659 | -2.1% | 0.69% |
| Montgomery County | $131,637 | +2.1% | 1% |
| Hinds County | $130,045 | +1.8% | 0.88% |
| Grenada County | $129,552 | -4.7% | 1.02% |
| Calhoun County | $128,776 | +0.3% | 0.66% |
| Copiah County | $126,892 | +1.1% | 0.72% |
| Tallahatchie County | $123,976 | -2.7% | 0.61% |
| Lauderdale County | $121,229 | +1.2% | 0.92% |
| Scott County | $116,968 | +4.2% | 0.67% |
| Lawrence County | $116,405 | +3.8% | 0.67% |
| Wilkinson County | $116,375 | +3.4% | 0.99% |
| Attala County | $114,297 | -2.2% | 0.68% |
| Bolivar County | $112,070 | -7.1% | 0.73% |
| Adams County | $109,360 | -7.6% | 0.9% |
Affordable metro areas
Assumes a 30-year fixed loan at 7.11%, property tax of 0.65% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Other salaries in Mississippi
Frequently asked questions
How much house can I afford on $40,000 in Mississippi?
About $145,000 with 20% down at 7.11%, keeping the payment (with Mississippi's 0.65% property tax and insurance) under $933 a month.
Is $40,000 enough to buy a house in Mississippi?
Not the typical home: the typical Mississippi home is worth $194,531 (Zillow, September 2026) and $40,000 supports about $145,000. 39 of 80 counties are within budget.