Mortgage on a $250K house in Mississippi
$1,605 a month with 20% down — $1,345 principal and interest plus $135 property tax and $125 insurance.
Mississippi's typical property tax is 0.65% of the home's value a year (U.S. average 0.9%), which adds $135 a month on a $250K home. The typical home in Mississippi is worth $194,531, so $250K is 29% above the typical price.
$250K home in Mississippi: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $260 | $1,605 | $68,800 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $260 | $1,867 | $80,000 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $260 | $1,957 | $83,900 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $260 | $2,022 | $86,600 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Tate County | $248,358 | 0.65% | $1,605 |
| Hancock County | $236,201 | 0.71% | $1,618 |
| Lamar County | $265,690 | 0.66% | $1,608 |
| Harrison County | $229,862 | 0.65% | $1,605 |
| Rankin County | $271,112 | 0.6% | $1,596 |
| Oktibbeha County | $282,630 | 0.71% | $1,619 |
| Marshall County | $216,006 | 0.72% | $1,621 |
| Jackson County | $214,695 | 0.71% | $1,618 |
| George County | $213,326 | 0.63% | $1,601 |
74 of 80 Mississippi counties tracked by Zillow have a typical home value at or below $250K. See all Mississippi home prices.
Other prices in Mississippi
Frequently asked questions
What is the mortgage on a $250K house in Mississippi?
About $1,605 a month with 20% down at 7.11%: $1,345 principal and interest, $135 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Mississippi?
About $68,800 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Mississippi?
At Mississippi's typical effective rate of 0.65%, about $1,619 a year. Rates vary by county and city — see the county pages.