Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Mississippi homebuyers.
Pre-filled with Mississippi medians. Adjust for your property.
Estimated closing costs based on Mississippi tax rates and fees.
The median home price in Mississippi is $175,000, with property taxes averaging 0.8% annually. Mississippi's property tax rate is roughly in line with the national average.
Closing costs in Mississippi average $2K (1.4%% of purchase price). Mississippi does not charge a transfer tax, which helps keep closing costs lower. Homeowners insurance runs approximately $2,400 per year. This is within the normal range nationally.
Mississippi offers the MHC Smart Solution for first-time buyers: Up to $10,000 DPA. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Mississippi offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with state assistance programs.