Total monthly cost of ownership
Cost to Own a Home in Forest, Mississippi
A $129,000 home here costs
$1,263per 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 $54,000 a year.
A standard mortgage calculator would have told you $703. The real number is $559 higher every month, 80% more than the payment most buyers budget for.
Compare Scott 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.
Forest against Scott County and Mississippi
| Measure | Forest | Scott County |
|---|---|---|
| Median home value | $129,100 | $89,900 |
| Median property tax | $1,205 | $718 |
| Effective tax rate | 0.933% | 0.799% |
| Median gross rent | $695 | $888 |
| Population | 5,365 | 27,754 |
The weather behind that power bill
Forest sits in Scott County, which averages a high of 89.7°F in its hottest month and a low of 34.3°F in its coldest, with 58.22" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,910 cooling and 2,532 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Scott County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Scott County
Full Scott County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Forest 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 Forest every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Forest I already own here and may sell
Common questions
How much does it cost to own a home in Forest?
A $129,000 home in Forest, Mississippi costs approximately $1,263 per month with 20% down at 7.24%. That is $703 principal and interest, $100 property tax, $117 homeowners insurance, $235 utilities and $108 set aside for maintenance.
What is the property tax rate in Forest?
Forest has an effective property tax rate of 0.933%, based on a median home value of $129,100 and median real estate taxes of $1,205. That is higher than the Scott County average of 0.799%.
What is the average home price in Forest?
The median owner-occupied home value in Forest, Mississippi is $129,100, against $89,900 across Scott County.
Is it cheaper to rent or buy in Forest?
Median gross rent in Forest is $695 a month, against $1,263 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 Forest?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Forest, Mississippi at today's rate takes a household income of roughly $54,000 a year. That covers the full $1,263 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Forest, 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.