Total monthly cost of ownership
Cost to Own a Home in Bruce, Mississippi
A $76,000 home here costs
$860per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $37,000 a year.
A standard mortgage calculator would have told you $414. The real number is $446 higher every month, 108% more than the payment most buyers budget for.
Compare Calhoun County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Bruce from a five-year rolling sample, and with about 1,445 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Calhoun County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bruce against Calhoun County and Mississippi
| Measure | Bruce | Calhoun County |
|---|---|---|
| Median home value | $76,100 | $82,900 |
| Median property tax | $948 | $566 |
| Effective tax rate | 1.246% | 0.683% |
| Median gross rent | $647 | $674 |
| Population | 1,445 | 13,029 |
The weather behind that power bill
Bruce sits in Calhoun County, which averages a high of 91.1°F in its hottest month and a low of 31.9°F in its coldest, with 57.9" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,057 cooling and 2,813 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Calhoun County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Calhoun County
Full Calhoun County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Bruce averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Bruce every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Bruce?
A $76,000 home in Bruce, Mississippi costs approximately $860 per month with 20% down at 7.24%. That is $414 principal and interest, $79 property tax, $69 homeowners insurance, $235 utilities and $63 set aside for maintenance.
What is the property tax rate in Bruce?
Bruce has an effective property tax rate of 1.246%, based on a median home value of $76,100 and median real estate taxes of $948. That is higher than the Calhoun County average of 0.683%.
What is the average home price in Bruce?
The median owner-occupied home value in Bruce, Mississippi is $76,100, against $82,900 across Calhoun County.
Is it cheaper to rent or buy in Bruce?
Median gross rent in Bruce is $647 a month, against $860 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Bruce?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bruce, Mississippi at today's rate takes a household income of roughly $37,000 a year. That covers the full $860 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bruce, 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.