Mortgage on a $200K house in Mississippi
$1,284 a month with 20% down — $1,076 principal and interest plus $108 property tax and $100 insurance.
Mississippi's typical property tax is 0.65% of the home's value a year (U.S. average 0.9%), which adds $108 a month on a $200K home. The typical home in Mississippi is worth $194,531, so $200K is right at the typical price.
$200K home in Mississippi: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $208 | $1,284 | $55,000 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $208 | $1,494 | $64,000 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $208 | $1,565 | $67,100 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $208 | $1,617 | $69,300 |
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.
Where in Mississippi does $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Stone County | $204,922 | 0.7% | $1,294 |
| Pontotoc County | $207,261 | 0.58% | $1,273 |
| Union County | $207,281 | 0.56% | $1,270 |
| Pearl River County | $210,156 | 0.65% | $1,285 |
| Lee County | $212,212 | 0.69% | $1,292 |
| Lowndes County | $187,535 | 0.6% | $1,277 |
| George County | $213,326 | 0.63% | $1,281 |
| Tishomingo County | $186,187 | 0.49% | $1,257 |
| Panola County | $185,775 | 0.65% | $1,284 |
| Jackson County | $214,695 | 0.71% | $1,294 |
| Marshall County | $216,006 | 0.72% | $1,297 |
| Forrest County | $181,503 | 0.81% | $1,311 |
63 of 80 Mississippi counties tracked by Zillow have a typical home value at or below $200K. See all Mississippi home prices.
Other prices in Mississippi
Frequently asked questions
What is the mortgage on a $200K house in Mississippi?
About $1,284 a month with 20% down at 7.11%: $1,076 principal and interest, $108 property tax and $100 insurance.
How much do I need to make to buy a $200K house in Mississippi?
About $55,000 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in Mississippi?
At Mississippi's typical effective rate of 0.65%, about $1,295 a year. Rates vary by county and city — see the county pages.