Total monthly cost of ownership
Cost to Own a Home in Charleston, Mississippi
A $88,000 home here costs
$863per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $452. The real number is $410 higher every month — 91% 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.
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 $145 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
Common questions
How much does it cost to own a home in Charleston?
A $88,000 home in Charleston, Mississippi costs approximately $863 per month with 20% down at 6.66%. That is $452 principal and interest, $44 property tax, $80 homeowners insurance, $213 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 $863 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 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.