Total monthly cost of ownership
Cost to Own a Home in Coldwater, Mississippi
A $85,000 home here costs
$942per 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 $40,500 a year.
A standard mortgage calculator would have told you $463. The real number is $479 higher every month, 103% more than the payment most buyers budget for.
Compare Tate County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Coldwater from a five-year rolling sample, and with about 1,293 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 Tate 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.
Coldwater against Tate County and Mississippi
| Measure | Coldwater | Tate County |
|---|---|---|
| Median home value | $85,400 | $173,000 |
| Median property tax | $1,156 | $1,328 |
| Effective tax rate | 1.354% | 0.768% |
| Median gross rent | $951 | $897 |
| Population | 1,293 | 28,135 |
The weather behind that power bill
Coldwater sits in Tate County, which averages a high of 91.6°F in its hottest month and a low of 30.8°F in its coldest, with 57.89" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,023 cooling and 3,106 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Tate County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tate County
Full Tate County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Coldwater 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 Coldwater every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Coldwater I already own here and may sell
Common questions
How much does it cost to own a home in Coldwater?
A $85,000 home in Coldwater, Mississippi costs approximately $942 per month with 20% down at 7.24%. That is $463 principal and interest, $96 property tax, $77 homeowners insurance, $235 utilities and $71 set aside for maintenance.
What is the property tax rate in Coldwater?
Coldwater has an effective property tax rate of 1.354%, based on a median home value of $85,400 and median real estate taxes of $1,156. That is higher than the Tate County average of 0.768%.
What is the average home price in Coldwater?
The median owner-occupied home value in Coldwater, Mississippi is $85,400, against $173,000 across Tate County.
Is it cheaper to rent or buy in Coldwater?
Median gross rent in Coldwater is $951 a month, against $942 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Coldwater?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Coldwater, Mississippi at today's rate takes a household income of roughly $40,500 a year. That covers the full $942 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Coldwater, 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.