Total monthly cost of ownership
Cost to Own a Home in Gloster, Mississippi
A $73,000 home here costs
$787per 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 $33,500 a year.
A standard mortgage calculator would have told you $398. The real number is $389 higher every month, 98% more than the payment most buyers budget for.
Compare Amite County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Gloster from a five-year rolling sample, and with about 1,189 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 Amite 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.
Gloster against Amite County and Mississippi
| Measure | Gloster | Amite County |
|---|---|---|
| Median home value | $73,400 | $89,800 |
| Median property tax | $333 | $435 |
| Effective tax rate | 0.454% | 0.484% |
| Median gross rent | $576 | $689 |
| Population | 1,189 | 12,611 |
The weather behind that power bill
Gloster sits in Amite County, which averages a high of 91.9°F in its hottest month and a low of 36.7°F in its coldest, with 61.7" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,216 cooling and 2,108 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Amite County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Amite County
Full Amite County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Gloster 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 Gloster every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gloster I already own here and may sell
Common questions
How much does it cost to own a home in Gloster?
A $73,000 home in Gloster, Mississippi costs approximately $787 per month with 20% down at 7.24%. That is $398 principal and interest, $28 property tax, $66 homeowners insurance, $235 utilities and $61 set aside for maintenance.
What is the property tax rate in Gloster?
Gloster has an effective property tax rate of 0.454%, based on a median home value of $73,400 and median real estate taxes of $333. That is lower than the Amite County average of 0.484%.
What is the average home price in Gloster?
The median owner-occupied home value in Gloster, Mississippi is $73,400, against $89,800 across Amite County.
Is it cheaper to rent or buy in Gloster?
Median gross rent in Gloster is $576 a month, against $787 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 Gloster?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gloster, Mississippi at today's rate takes a household income of roughly $33,500 a year. That covers the full $787 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gloster, 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.