Total monthly cost of ownership
Cost to Own a Home in Indianola, Mississippi
A $119,000 home here costs
$1,107per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $612. The real number is $495 higher every month — 81% 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.
Indianola against Sunflower County and Mississippi
| Measure | Indianola | Sunflower County |
|---|---|---|
| Median home value | $119,100 | $103,400 |
| Median property tax | $903 | $909 |
| Effective tax rate | 0.758% | 0.879% |
| Median gross rent | $763 | $670 |
| Population | 9,360 | 25,328 |
The weather behind that power bill
Indianola sits in Sunflower County, which averages a high of 91.3°F in its hottest month and a low of 35.1°F in its coldest, with 55.76" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,353 cooling and 2,601 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Sunflower County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sunflower County
Full Sunflower County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Indianola?
A $119,000 home in Indianola, Mississippi costs approximately $1,107 per month with 20% down at 6.66%. That is $612 principal and interest, $75 property tax, $108 homeowners insurance, $213 utilities and $99 set aside for maintenance.
What is the property tax rate in Indianola?
Indianola has an effective property tax rate of 0.758%, based on a median home value of $119,100 and median real estate taxes of $903. That is lower than the Sunflower County average of 0.879%.
What is the average home price in Indianola?
The median owner-occupied home value in Indianola, Mississippi is $119,100, against $103,400 across Sunflower County.
Is it cheaper to rent or buy in Indianola?
Median gross rent in Indianola is $763 a month, against $1,107 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 Indianola — 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.