Total monthly cost of ownership
Cost to Own a Home in Charleston, Mississippi
A $88,000 home here costs
$912per 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 $39,000 a year.
A standard mortgage calculator would have told you $480. The real number is $432 higher every month, 90% more than the payment most buyers budget for.
Compare Tallahatchie County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Charleston from a five-year rolling sample, and with about 2,301 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 Tallahatchie 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.
Charleston against Tallahatchie County and Mississippi
| Measure | Charleston | Tallahatchie County |
|---|---|---|
| Median home value | $87,700 | $82,200 |
| Median property tax | — | $495 |
| Effective tax rate | 0.602% | 0.602% |
| Median gross rent | $628 | $695 |
| Population | 2,301 | 12,363 |
The weather behind that power bill
Charleston sits in Tallahatchie County, which averages a high of 92.2°F in its hottest month and a low of 35.6°F in its coldest, with 60.69" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,404 cooling and 2,508 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Tallahatchie County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tallahatchie County
Full Tallahatchie County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Charleston 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 Charleston every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Charleston I already own here and may sell
Common questions
How much does it cost to own a home in Charleston?
A $88,000 home in Charleston, Mississippi costs approximately $912 per month with 20% down at 7.24%. That is $480 principal and interest, $44 property tax, $80 homeowners insurance, $235 utilities and $73 set aside for maintenance.
What is the property tax rate in Charleston?
Place-level tax data is not published for Charleston, so the Tallahatchie County rate of 0.602% applies here.
What is the average home price in Charleston?
The median owner-occupied home value in Charleston, Mississippi is $87,700, against $82,200 across Tallahatchie County.
Is it cheaper to rent or buy in Charleston?
Median gross rent in Charleston is $628 a month, against $912 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 Charleston?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Charleston, Mississippi at today's rate takes a household income of roughly $39,000 a year. That covers the full $912 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Charleston, 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.