Total monthly cost of ownership
Cost to Own a Home in Bay Springs, Mississippi
A $148,000 home here costs
$1,293per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $761. The real number is $533 higher every month — 70% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bay Springs against Jasper County and Mississippi
| Measure | Bay Springs | Jasper County |
|---|---|---|
| Median home value | $147,600 | $118,600 |
| Median property tax | $741 | $710 |
| Effective tax rate | 0.502% | 0.599% |
| Median gross rent | $482 | $809 |
| Population | 2,021 | 16,211 |
The weather behind that power bill
Bay Springs sits in Jasper County, which averages a high of 89.7°F in its hottest month and a low of 34.3°F in its coldest, with 58.22" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,910 cooling and 2,532 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Jasper County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jasper County
No other places of this size are published in Jasper County.
Full Jasper County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Bay Springs?
A $148,000 home in Bay Springs, Mississippi costs approximately $1,293 per month with 20% down at 6.66%. That is $761 principal and interest, $62 property tax, $134 homeowners insurance, $213 utilities and $123 set aside for maintenance.
What is the property tax rate in Bay Springs?
Bay Springs has an effective property tax rate of 0.502%, based on a median home value of $147,600 and median real estate taxes of $741. That is lower than the Jasper County average of 0.599%.
What is the average home price in Bay Springs?
The median owner-occupied home value in Bay Springs, Mississippi is $147,600, against $118,600 across Jasper County.
Is it cheaper to rent or buy in Bay Springs?
Median gross rent in Bay Springs is $482 a month, against $1,293 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bay Springs — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Mississippi.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.