Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Mississippi and Missouri. Updated for 2026.
Metric
Mississippi
Missouri
Median Home Price
$175K
$235K
Property Tax Rate
0.8%
0.97%
Avg Closing Costs
$2K
$2K
Closing Cost %
1.4%
0.9%
Transfer Tax
None
None
Homeowners Insurance
$2,400/yr
$2,200/yr
First-Time Buyer Program
MHC Smart Solution
Up to $10,000 DPA
MHDC First Place Loan
Up to 4% cash assistance
Verdict
Missouri wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Mississippi has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.