Total monthly cost of ownership
Cost to Own a Home in Columbus, Mississippi
A $121,000 home here costs
$1,206per 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 $51,500 a year.
A standard mortgage calculator would have told you $660. The real number is $546 higher every month, 83% more than the payment most buyers budget for.
Compare Lowndes County with anywhere in America · full county breakdown
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 $167 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
Talk to someone who works this market
These are Columbus 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 Columbus every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Columbus I already own here and may sell
Common questions
How much does it cost to own a home in Columbus?
A $121,000 home in Columbus, Mississippi costs approximately $1,206 per month with 20% down at 7.24%. That is $660 principal and interest, $101 property tax, $110 homeowners insurance, $235 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 $1,206 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Columbus?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Columbus, Mississippi at today's rate takes a household income of roughly $51,500 a year. That covers the full $1,206 monthly cost, not just the mortgage payment.
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.