Total monthly cost of ownership
Cost to Own a Home in Carthage, Mississippi
A $147,000 home here costs
$1,361per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $756. The real number is $606 higher every month — 80% 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.
Carthage against Leake County and Mississippi
| Measure | Carthage | Leake County |
|---|---|---|
| Median home value | $146,800 | $114,600 |
| Median property tax | $1,638 | $775 |
| Effective tax rate | 1.116% | 0.676% |
| Median gross rent | $549 | $757 |
| Population | 4,859 | 21,288 |
The weather behind that power bill
Carthage sits in Leake County, which averages a high of 92.1°F in its hottest month and a low of 33.5°F in its coldest, with 57.81" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,159 cooling and 2,548 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Leake County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Leake County
No other places of this size are published in Leake County.
Full Leake County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Carthage?
A $147,000 home in Carthage, Mississippi costs approximately $1,361 per month with 20% down at 6.66%. That is $756 principal and interest, $137 property tax, $133 homeowners insurance, $213 utilities and $123 set aside for maintenance.
What is the property tax rate in Carthage?
Carthage has an effective property tax rate of 1.116%, based on a median home value of $146,800 and median real estate taxes of $1,638. That is higher than the Leake County average of 0.676%.
What is the average home price in Carthage?
The median owner-occupied home value in Carthage, Mississippi is $146,800, against $114,600 across Leake County.
Is it cheaper to rent or buy in Carthage?
Median gross rent in Carthage is $549 a month, against $1,361 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 Carthage — 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.