How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will decrease by approximately $185 per month ($2,220/year) when you move from Louisiana to Mississippi.
If you sell your median-priced Louisiana home ($195K) and buy in Mississippi ($175K):
Your Louisiana equity covers the 20% down payment on a median Mississippi home with $24K left over. That surplus can cover closing costs, moving expenses, or go into savings.
Over 10 years, this move saves you approximately $22K in housing costs alone.
Your dollar stretches further in Mississippi. The median home costs 10% less than in Louisiana, which translates to a $20K difference in purchase price. This means a smaller loan, a lower monthly payment, and less total interest paid over the life of your mortgage.
You'll save on insurance moving to Mississippi: $2,400/year versus $3,500/year in Louisiana. That's $1,100 less per year in premiums, putting $92 back in your monthly budget.
When you buy in Mississippi, expect about $2K in closing costs (1.4% of purchase price). Mississippi has no transfer tax, which helps keep your upfront costs lower. Budget for this amount on top of your down payment.
Mississippi's MHC Smart Solution offers Up to $10,000 DPA. If you haven't owned a home in three years (or are buying in Mississippi for the first time), you may qualify. Check eligibility requirements and income limits on Mississippi's housing finance agency website.