Total monthly cost of ownership
Cost to Own a Home in Horn Lake, Mississippi
A $159,000 home here costs
$1,408per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $817. The real number is $591 higher every month — 72% 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.
Horn Lake against DeSoto County and Mississippi
| Measure | Horn Lake | DeSoto County |
|---|---|---|
| Median home value | $158,900 | $248,700 |
| Median property tax | $1,214 | $1,595 |
| Effective tax rate | 0.764% | 0.641% |
| Median gross rent | $1,293 | $1,341 |
| Population | 26,622 | 188,598 |
The weather behind that power bill
Horn Lake sits in DeSoto County, which averages a high of 90.3°F in its hottest month and a low of 30.2°F in its coldest, with 56.53" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,922 cooling and 3,288 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for DeSoto County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in DeSoto County
Full DeSoto County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Horn Lake?
A $159,000 home in Horn Lake, Mississippi costs approximately $1,408 per month with 20% down at 6.66%. That is $817 principal and interest, $101 property tax, $144 homeowners insurance, $213 utilities and $133 set aside for maintenance.
What is the property tax rate in Horn Lake?
Horn Lake has an effective property tax rate of 0.764%, based on a median home value of $158,900 and median real estate taxes of $1,214. That is higher than the DeSoto County average of 0.641%.
What is the average home price in Horn Lake?
The median owner-occupied home value in Horn Lake, Mississippi is $158,900, against $248,700 across DeSoto County.
Is it cheaper to rent or buy in Horn Lake?
Median gross rent in Horn Lake is $1,293 a month, against $1,408 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 Horn Lake — 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.