Franklin County, Mississippi home prices
Typical home $138,221 · +1.7% in a year · property tax 0.73%
The typical home in Franklin County is worth $138,221, 29% less than the Mississippi typical home ($194,531). Values changed +1.7% in the past year and -10.6% over five years. Homeowners here pay a median 0.73% of their home's value in property tax each year ($1,002 on the typical home), versus 0.65% statewide.
Mortgage on the typical Franklin County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $27,644 | $110,577 | $744 | $0 | $153 | $896 | $38,400 |
| 10% down | $13,822 | $124,399 | $837 | $52 | $153 | $1,041 | $44,600 |
| 5% down | $6,911 | $131,310 | $883 | $55 | $153 | $1,091 | $46,700 |
| 3.5% down (FHA) | $4,838 | $135,717 | $913 | $61 | $153 | $1,127 | $48,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.73% 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.
What it takes: see what you can afford by salary in Mississippi.
Mississippi counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Chickasaw County | $137,649 | -2.1% | 0.73% |
| Tippah County | $139,263 | +1.8% | 0.77% |
| 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% |
| Wayne County | $143,110 | +21.2% | 0.63% |
| Newton County | $132,704 | -2.1% | 0.73% |
| Jasper County | $132,659 | -2.1% | 0.69% |
Frequently asked questions
What is the average home price in Franklin County, MS?
The typical home value in Franklin County is $138,221 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Franklin County?
About $38,400 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Franklin County?
The median effective rate is 0.73% of home value a year (Census ACS 2024 5-year estimates).