Mortgage payment estimates, closing cost breakdowns, and homebuying data for Meridian, Mississippi.
Pre-filled with Meridian median home price and Mississippi tax/insurance rates. Adjust for your property.
Estimated closing costs based on Mississippi rates and fees applied to Meridian prices.
The median home price in Meridian is $125,000, 29% below the Mississippi state median of $175,000. With a population of 33,865, Meridian is a smaller market 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 $125,000 home in Meridian would carry roughly $83/month in property taxes. Homeowners insurance in Mississippi runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Meridian is $780/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Meridian over the long term.
Meridian 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.