Total monthly cost of ownership
Cost to Own a Home in Columbus, Mississippi
A $121,000 home here costs
$1,147per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $622. The real number is $525 higher every month — 84% 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.
Columbus against Lowndes County and Mississippi
| Measure | Columbus | Lowndes County |
|---|---|---|
| Median home value | $121,200 | $157,400 |
| Median property tax | $1,215 | $1,008 |
| Effective tax rate | 1.002% | 0.640% |
| Median gross rent | $882 | $909 |
| Population | 23,616 | 58,187 |
The weather behind that power bill
Columbus sits in Lowndes County, which averages a high of 93.8°F in its hottest month and a low of 35.8°F in its coldest, with 56.64" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,494 cooling and 2,326 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Lowndes County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lowndes County
Full Lowndes County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Columbus?
A $121,000 home in Columbus, Mississippi costs approximately $1,147 per month with 20% down at 6.66%. That is $622 principal and interest, $101 property tax, $110 homeowners insurance, $213 utilities and $101 set aside for maintenance.
What is the property tax rate in Columbus?
Columbus has an effective property tax rate of 1.002%, based on a median home value of $121,200 and median real estate taxes of $1,215. That is higher than the Lowndes County average of 0.640%.
What is the average home price in Columbus?
The median owner-occupied home value in Columbus, Mississippi is $121,200, against $157,400 across Lowndes County.
Is it cheaper to rent or buy in Columbus?
Median gross rent in Columbus is $882 a month, against $1,147 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 Columbus — 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.