Total monthly cost of ownership
Cost to Own a Home in Corinth, Mississippi
A $164,000 home here costs
$1,512per 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 $65,000 a year.
A standard mortgage calculator would have told you $894. The real number is $618 higher every month, 69% more than the payment most buyers budget for.
Compare Alcorn 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.
Corinth against Alcorn County and Mississippi
| Measure | Corinth | Alcorn County |
|---|---|---|
| Median home value | $164,200 | $132,300 |
| Median property tax | $1,173 | $788 |
| Effective tax rate | 0.714% | 0.596% |
| Median gross rent | $638 | $728 |
| Population | 14,450 | 34,500 |
The weather behind that power bill
Corinth sits in Alcorn County, which averages a high of 90.0°F in its hottest month and a low of 30.4°F in its coldest, with 58.82" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,771 cooling and 3,392 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Alcorn County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Alcorn County
Full Alcorn County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Corinth 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 Corinth every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Corinth I already own here and may sell
Common questions
How much does it cost to own a home in Corinth?
A $164,000 home in Corinth, Mississippi costs approximately $1,512 per month with 20% down at 7.24%. That is $894 principal and interest, $98 property tax, $149 homeowners insurance, $235 utilities and $137 set aside for maintenance.
What is the property tax rate in Corinth?
Corinth has an effective property tax rate of 0.714%, based on a median home value of $164,200 and median real estate taxes of $1,173. That is higher than the Alcorn County average of 0.596%.
What is the average home price in Corinth?
The median owner-occupied home value in Corinth, Mississippi is $164,200, against $132,300 across Alcorn County.
Is it cheaper to rent or buy in Corinth?
Median gross rent in Corinth is $638 a month, against $1,512 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 Corinth?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Corinth, Mississippi at today's rate takes a household income of roughly $65,000 a year. That covers the full $1,512 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Corinth, 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.