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Mortgage Calculator &
Closing Costs: Jackson, MS

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Jackson, Mississippi.

Median Home Price
$145K
Population
154K
Avg Monthly Rent
$920
Property Tax Rate
0.8%
Jackson vs Mississippi Median
The median home price in Jackson is $145,000, which is 17% below the Mississippi state median of $175,000.

Mortgage Calculator — Jackson, MS

Pre-filled with Jackson median home price and Mississippi tax/insurance rates. Adjust for your property.

$
$29,000
%
%
years
MS avg
%
$
Monthly Payment (PITI)
$1,030
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$733
per month
Taxes & Insurance
$297
per month
Total Interest Paid
$148K
over 30 years
Total Loan Cost
$264K
all payments
Payment Breakdown
Loan Amount$116,000
Principal & Interest$733
Property Taxes$97
Homeowners Insurance$200
Total Monthly PITI$1,030

Closing Costs — Jackson, MS

Estimated closing costs based on Mississippi rates and fees applied to Jackson prices.

$
%
Mississippi: Avg closing costs 1.4% of price. Transfer tax: 0%.
Estimated Closing Costs
$7,373
5.1% of purchase price
Lender Fees
$1,469
origination, underwriting
Third-Party
$2,175
appraisal, title, inspection
Government Fees
$0
transfer taxes, recording
Prepaids + Escrow
$3,729
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,044
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,025
Recording Fee$150
Prepaid Taxes (3 mo)$290
Prepaid Insurance (12 mo)$2,400
Prepaid Interest (15 days)$349
Escrow Reserves$690
Total Closing Costs$7,373

Buying a Home in Jackson, Mississippi

The median home price in Jackson is $145,000, 17% below the Mississippi state median of $175,000. With a population of 153,701, Jackson is a mid-size city where home prices tend to be more accessible than in many parts of Mississippi.

Property taxes in Mississippi average 0.8% annually. This moderate property tax rate means a $145,000 home in Jackson would carry roughly $97/month in property taxes. Homeowners insurance in Mississippi runs approximately $2,400 per year. This is within the normal range nationally.

Average rent in Jackson is $920/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Jackson over the long term.

Jackson offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Mississippi's MHC Smart Solution program.

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