Total monthly cost of ownership
Cost to Own a Home in Cleveland, Mississippi
A $162,000 home here costs
$1,431per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $833. The real number is $598 higher every month — 72% 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.
Cleveland against Bolivar County and Mississippi
| Measure | Cleveland | Bolivar County |
|---|---|---|
| Median home value | $162,300 | $123,600 |
| Median property tax | $1,244 | $961 |
| Effective tax rate | 0.766% | 0.778% |
| Median gross rent | $860 | $671 |
| Population | 10,855 | 30,163 |
The weather behind that power bill
Cleveland sits in Bolivar County, which averages a high of 93.1°F in its hottest month and a low of 33.2°F in its coldest, with 59.29" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,334 cooling and 2,824 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Bolivar County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bolivar County
Full Bolivar County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Cleveland?
A $162,000 home in Cleveland, Mississippi costs approximately $1,431 per month with 20% down at 6.66%. That is $833 principal and interest, $103 property tax, $147 homeowners insurance, $213 utilities and $135 set aside for maintenance.
What is the property tax rate in Cleveland?
Cleveland has an effective property tax rate of 0.766%, based on a median home value of $162,300 and median real estate taxes of $1,244. That is lower than the Bolivar County average of 0.778%.
What is the average home price in Cleveland?
The median owner-occupied home value in Cleveland, Mississippi is $162,300, against $123,600 across Bolivar County.
Is it cheaper to rent or buy in Cleveland?
Median gross rent in Cleveland is $860 a month, against $1,431 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 Cleveland — 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.