Total monthly cost of ownership
Cost to Own a Home in Iuka, Mississippi
A $122,000 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 $627. The real number is $480 higher every month — 77% 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.
Iuka against Tishomingo County and Mississippi
| Measure | Iuka | Tishomingo County |
|---|---|---|
| Median home value | $122,200 | $132,500 |
| Median property tax | — | $713 |
| Effective tax rate | 0.538% | 0.538% |
| Median gross rent | $559 | $703 |
| Population | 3,118 | 18,738 |
The weather behind that power bill
Iuka sits in Tishomingo County, which averages a high of 88.4°F in its hottest month and a low of 27.8°F in its coldest, with 62.31" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,492 cooling and 3,641 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Tishomingo County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tishomingo County
Full Tishomingo County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Iuka?
A $122,000 home in Iuka, Mississippi costs approximately $1,107 per month with 20% down at 6.66%. That is $627 principal and interest, $55 property tax, $111 homeowners insurance, $213 utilities and $102 set aside for maintenance.
What is the property tax rate in Iuka?
Place-level tax data is not published for Iuka, so the Tishomingo County rate of 0.538% applies here.
What is the average home price in Iuka?
The median owner-occupied home value in Iuka, Mississippi is $122,200, against $132,500 across Tishomingo County.
Is it cheaper to rent or buy in Iuka?
Median gross rent in Iuka is $559 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 Iuka — 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.