Total monthly cost of ownership
Cost to Own a Home in Grenada, Mississippi
A $152,000 home here costs
$1,446per 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 $62,000 a year.
A standard mortgage calculator would have told you $829. The real number is $618 higher every month, 75% more than the payment most buyers budget for.
Compare Grenada 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.
Grenada against Grenada County and Mississippi
| Measure | Grenada | Grenada County |
|---|---|---|
| Median home value | $152,100 | $123,400 |
| Median property tax | $1,422 | $1,247 |
| Effective tax rate | 0.935% | 1.011% |
| Median gross rent | $799 | $823 |
| Population | 12,484 | 21,342 |
The weather behind that power bill
Grenada sits in Grenada County, which averages a high of 91.5°F in its hottest month and a low of 31.3°F in its coldest, with 61.53" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,034 cooling and 2,897 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Grenada County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grenada County
No other places of this size are published in Grenada County.
Full Grenada County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Grenada 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 Grenada every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Grenada I already own here and may sell
Common questions
How much does it cost to own a home in Grenada?
A $152,000 home in Grenada, Mississippi costs approximately $1,446 per month with 20% down at 7.24%. That is $829 principal and interest, $118 property tax, $138 homeowners insurance, $235 utilities and $127 set aside for maintenance.
What is the property tax rate in Grenada?
Grenada has an effective property tax rate of 0.935%, based on a median home value of $152,100 and median real estate taxes of $1,422. That is lower than the Grenada County average of 1.011%.
What is the average home price in Grenada?
The median owner-occupied home value in Grenada, Mississippi is $152,100, against $123,400 across Grenada County.
Is it cheaper to rent or buy in Grenada?
Median gross rent in Grenada is $799 a month, against $1,446 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 Grenada?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Grenada, Mississippi at today's rate takes a household income of roughly $62,000 a year. That covers the full $1,446 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grenada, 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.