Total monthly cost of ownership
Cost to Own a Home in Columbia, Mississippi
A $112,000 home here costs
$1,085per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $576. The real number is $509 higher every month — 88% 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.
Columbia against Marion County and Mississippi
| Measure | Columbia | Marion County |
|---|---|---|
| Median home value | $112,100 | $117,000 |
| Median property tax | $1,213 | $870 |
| Effective tax rate | 1.082% | 0.744% |
| Median gross rent | $656 | $700 |
| Population | 5,804 | 24,303 |
The weather behind that power bill
Columbia sits in Marion County, which averages a high of 91.8°F in its hottest month and a low of 37.6°F in its coldest, with 61.88" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,535 cooling and 1,953 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Marion County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marion County
No other places of this size are published in Marion County.
Full Marion County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Columbia?
A $112,000 home in Columbia, Mississippi costs approximately $1,085 per month with 20% down at 6.66%. That is $576 principal and interest, $101 property tax, $101 homeowners insurance, $213 utilities and $93 set aside for maintenance.
What is the property tax rate in Columbia?
Columbia has an effective property tax rate of 1.082%, based on a median home value of $112,100 and median real estate taxes of $1,213. That is higher than the Marion County average of 0.744%.
What is the average home price in Columbia?
The median owner-occupied home value in Columbia, Mississippi is $112,100, against $117,000 across Marion County.
Is it cheaper to rent or buy in Columbia?
Median gross rent in Columbia is $656 a month, against $1,085 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 Columbia — 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.