Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Alabama and Mississippi. Updated for 2026.
Metric
Alabama
Mississippi
Median Home Price
$230K
$175K
Property Tax Rate
0.41%
0.8%
Avg Closing Costs
$3K
$2K
Closing Cost %
1.4%
1.4%
Transfer Tax
None
None
Homeowners Insurance
$1,950/yr
$2,400/yr
First-Time Buyer Program
Alabama Housing Finance Authority Step Up
Up to $10,000 DPA
MHC Smart Solution
Up to $10,000 DPA
Verdict
Alabama and Mississippi are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.