United States · Mississippi

Mississippi mortgage calculator

Estimate your monthly payment in Mississippi — principal & interest, property tax, and insurance — using the live national average rate and Mississippi's estimated ~0.81% effective property tax rate. Adjust any figure below.

Affording a home in Mississippi

Stretched

Median home price: $175,000
Income needed: $50,000; to qualify (28% rule, 20% down)
Typical household income: $48,000
Income gap: +$2,000

A median Mississippi home costs $175k and needs $2k more annual income than the typical household earns.

Data as of 2026-06-30. Sources: Zillow ZHVI, U.S. Census ACS, Splitero. Median is a statewide figure — expensive cities and more affordable rural areas vary widely.

A single median income can qualify in Mississippi — here's what that looks like

The typical Mississippi household earns $48,000/year. To buy a median-priced home here, lenders generally want to see $50,000/year — which a single median income can cover. Mississippi is one of the more accessible markets in the country right now.

The roles and income paths that commonly reach it in Mississippi are listed below — some single high-earning roles, some two incomes combined.

Roles and income paths that commonly meet the income in Mississippi

Nurse
Teacher
Government worker
Accountant

Pay varies widely by employer, experience, and city — these are paths that often (not always) reach the income needed, not a guarantee for any individual. Entries like “+ partner income” mean two incomes combined.

First-time buyer programs available in Mississippi

MHC Smart6 Program
Mississippi Home Corporation programs

Programs and their terms change — verify current availability and eligibility with the official state housing agency before relying on any of these.

What makes Mississippi legally different for homebuyers

Mississippi has one of the fastest and most lender-favorable foreclosure processes in the country. Notice can be given by courthouse posting (not necessarily direct notice to the homeowner). There is no post-sale redemption period. Mississippi also has some of the lowest home values in the US.

If you buy here

Mississippi's low home prices make it one of the most accessible markets in the country financially — but job market and economic considerations are important factors that explain the low prices alongside the low income levels.

Foreclosure: nonjudicial, ~2 mo
Post-sale redemption: None
Anti-deficiency protection: No

General overview only — laws change and individual situations vary. Consult a real estate attorney for advice specific to your purchase. (Verified 2026-06-30.)

A clean, printable one-page summary — free, no account needed.

Loan details

Understanding your numbers before you sign.

A mortgage is likely the largest financial commitment of your life. The Mortgage Ledger was built so you can explore what that commitment actually looks like — payment by payment, line by line — before you're sitting across from a lender.

Rates sourced from FRED (Federal Reserve Bank of St. Louis). Estimates only — not a loan offer.

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