In Mississippi, the effective property-tax rate averages about 0.79% of home value. On the state's median-priced home ($175,000) with 20% down at 6.85%, the all-in monthly payment is roughly $1,083.69 including taxes and insurance.
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| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $1,464 | $9,545 | $138,536 |
| 2 | $1,567 | $9,441 | $136,969 |
| 3 | $1,678 | $9,330 | $135,291 |
| 4 | $1,797 | $9,212 | $133,495 |
| 5 | $1,924 | $9,085 | $131,571 |
| 6 | $2,060 | $8,949 | $129,511 |
| 7 | $2,205 | $8,803 | $127,306 |
| 8 | $2,361 | $8,647 | $124,945 |
| 9 | $2,528 | $8,480 | $122,417 |
| 10 | $2,707 | $8,302 | $119,710 |
| 11 | $2,898 | $8,110 | $116,812 |
| 12 | $3,103 | $7,905 | $113,710 |
| 13 | $3,322 | $7,686 | $110,387 |
| 14 | $3,557 | $7,451 | $106,830 |
| 15 | $3,809 | $7,200 | $103,022 |
| 16 | $4,078 | $6,931 | $98,944 |
| 17 | $4,366 | $6,642 | $94,578 |
| 18 | $4,675 | $6,334 | $89,903 |
| 19 | $5,005 | $6,003 | $84,898 |
| 20 | $5,359 | $5,649 | $79,539 |
| 21 | $5,738 | $5,271 | $73,801 |
| 22 | $6,143 | $4,865 | $67,658 |
| 23 | $6,578 | $4,431 | $61,080 |
| 24 | $7,043 | $3,966 | $54,037 |
| 25 | $7,541 | $3,468 | $46,497 |
| 26 | $8,074 | $2,935 | $38,423 |
| 27 | $8,644 | $2,364 | $29,779 |
| 28 | $9,255 | $1,753 | $20,523 |
| 29 | $9,910 | $1,099 | $10,614 |
| 30 | $10,614 | $398 | $0 |
Mississippi's effective property-tax rate averages about 0.79% of a home's value — roughly $1,383 per year on a $175,000 home. Actual bills vary by county and assessment.
On the median Mississippi home ($175,000) with 20% down at 6.85%, the full payment is about $1,083.69 including principal, interest, property tax, and insurance.
Rates are set nationally by market conditions and your credit, not by state, but closing costs, property taxes, and insurance — which shape your real monthly cost — vary significantly by state.
Sources: Freddie Mac Primary Mortgage Market Survey; Tax Foundation — Property Taxes by State; Consumer Financial Protection Bureau.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.