Total monthly cost of ownership
Cost to Own a Home in Greenwood, Mississippi
A $99,000 home here costs
$1,023per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $509. The real number is $514 higher every month — 101% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Greenwood against Leflore County and Mississippi
| Measure | Greenwood | Leflore County |
|---|---|---|
| Median home value | $98,500 | $98,200 |
| Median property tax | $1,530 | $1,037 |
| Effective tax rate | 1.553% | 1.056% |
| Median gross rent | $743 | $701 |
| Population | 13,983 | 27,432 |
The weather behind that power bill
Greenwood sits in Leflore County, which averages a high of 91.9°F in its hottest month and a low of 34.7°F in its coldest, with 51.78" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,243 cooling and 2,573 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Leflore County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Leflore County
Full Leflore County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Greenwood?
A $99,000 home in Greenwood, Mississippi costs approximately $1,023 per month with 20% down at 6.66%. That is $509 principal and interest, $128 property tax, $90 homeowners insurance, $213 utilities and $83 set aside for maintenance.
What is the property tax rate in Greenwood?
Greenwood has an effective property tax rate of 1.553%, based on a median home value of $98,500 and median real estate taxes of $1,530. That is higher than the Leflore County average of 1.056%.
What is the average home price in Greenwood?
The median owner-occupied home value in Greenwood, Mississippi is $98,500, against $98,200 across Leflore County.
Is it cheaper to rent or buy in Greenwood?
Median gross rent in Greenwood is $743 a month, against $1,023 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Greenwood — 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.