Total monthly cost of ownership
Cost to Own a Home in Flora, Mississippi
A $214,000 home here costs
$1,835per 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 $78,500 a year.
A standard mortgage calculator would have told you $1,167. The real number is $668 higher every month, 57% more than the payment most buyers budget for.
Compare Madison County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Flora from a five-year rolling sample, and with about 2,399 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 Madison 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.
Flora against Madison County and Mississippi
| Measure | Flora | Madison County |
|---|---|---|
| Median home value | $213,700 | $286,300 |
| Median property tax | $733 | $2,071 |
| Effective tax rate | 0.343% | 0.723% |
| Median gross rent | $536 | $1,097 |
| Population | 2,399 | 110,303 |
The weather behind that power bill
Flora sits in Madison County, which averages a high of 91.8°F in its hottest month and a low of 33.6°F in its coldest, with 57.05" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,083 cooling and 2,629 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Madison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Flora 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 Flora every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Flora?
A $214,000 home in Flora, Mississippi costs approximately $1,835 per month with 20% down at 7.24%. That is $1,167 principal and interest, $61 property tax, $194 homeowners insurance, $235 utilities and $178 set aside for maintenance.
What is the property tax rate in Flora?
Flora has an effective property tax rate of 0.343%, based on a median home value of $213,700 and median real estate taxes of $733. That is lower than the Madison County average of 0.723%.
What is the average home price in Flora?
The median owner-occupied home value in Flora, Mississippi is $213,700, against $286,300 across Madison County.
Is it cheaper to rent or buy in Flora?
Median gross rent in Flora is $536 a month, against $1,835 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 Flora?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Flora, Mississippi at today's rate takes a household income of roughly $78,500 a year. That covers the full $1,835 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Flora, 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.