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Mississippi Mortgage Calculator

Your monthly mortgage payment in Mississippi, with Mississippi's effective property tax rate (0.72%) built in, at this week's average rate. The calculator starts at the state's median home value, $169,800.

A $170,000 home with 20% down ($136,000 borrowed) at 7.28% over 30 years costs about $1,199 a month: $931 principal and interest plus $268 of tax, insurance and dues.

Monthly payment
$1,198.63
Principal and interest
$930.53
Tax, insurance, PMI and HOA
$268.10
Total interest over the loan
$198,990
Loan balance and interest paid over 30 years at 7.28%$0$50k$100k$150k$200k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $136,000 at 7.28%
YearInterestPrincipalBalance
1$9,857.71$1,308.64$134,691.36
2$9,759.19$1,407.15$133,284.21
3$9,653.27$1,513.08$131,771.13
4$9,539.36$1,626.98$130,144.15
5$9,416.89$1,749.46$128,394.69
6$9,285.19$1,881.16$126,513.54
7$9,143.58$2,022.77$124,490.77
8$8,991.31$2,175.04$122,315.73
9$8,827.57$2,338.77$119,976.96
10$8,651.51$2,514.83$117,462.12
11$8,462.20$2,704.15$114,757.98
12$8,258.63$2,907.71$111,850.26
13$8,039.74$3,126.60$108,723.66
14$7,804.37$3,361.97$105,361.69
15$7,551.29$3,615.06$101,746.63
16$7,279.15$3,887.19$97,859.44
17$6,986.53$4,179.82$93,679.63
18$6,671.88$4,494.47$89,185.16
19$6,333.54$4,832.81$84,352.35
20$5,969.73$5,196.61$79,155.74
21$5,578.53$5,587.81$73,567.93
22$5,157.89$6,008.45$67,559.47
23$4,705.58$6,460.76$61,098.71
24$4,219.22$6,947.12$54,151.58
25$3,696.25$7,470.10$46,681.49
26$3,133.91$8,032.44$38,649.05
27$2,529.24$8,637.11$30,011.94
28$1,879.04$9,287.30$20,724.64
29$1,179.91$9,986.44$10,738.21
30$428.14$10,738.21$0.00

This week's mortgage rates →

Monthly payment in Mississippi by home price (20% down, 7%, 30 years, 0.72% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$80,000$426$48$640
$130,000$692$78$936
$170,000$905$101$1,173
$250,000$1,331$149$1,646
$340,000$1,810$203$2,179

How this calculator works

As the mortgage calculator, with Mississippi's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $1,215 ÷ median value $169,800.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in Mississippi?

On $169,800 with 20% down at 7% over 30 years: about $904 principal and interest and $101 of property tax, $1,172 a month with $2,000 a year of insurance.

What is the median home value in Mississippi?

$169,800 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Mississippi?

The effective rate is 0.72%, a median $1,215 a year. See Mississippi's property tax page for every county we cover.

How much income do I need for a median Mississippi home?

Under the 28% guideline, about $50,217 a year for the payment above; Mississippi's median household income is $56,447.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Mississippi Property Tax CalculatorMississippi homeowners pay a median $1,215 a year in property tax, 0.72% of a median $169,800 home: the 33rd highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.