Total monthly cost of ownership
Cost to Own a Home in Jackson, Mississippi
A $108,000 home here costs
$1,068per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $555. The real number is $513 higher every month — 92% 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.
Jackson against Hinds County and Mississippi
| Measure | Jackson | Hinds County |
|---|---|---|
| Median home value | $108,200 | $151,200 |
| Median property tax | $1,341 | $1,389 |
| Effective tax rate | 1.239% | 0.919% |
| Median gross rent | $1,018 | $1,032 |
| Population | 149,827 | 222,494 |
Jackson extends across 3 counties. Figures here use Hinds County, where most of its housing sits.
The weather behind that power bill
Jackson sits in Hinds County, which averages a high of 93.3°F in its hottest month and a low of 35.2°F in its coldest, with 60.15" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,425 cooling and 2,234 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Hinds County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hinds County
Full Hinds County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Jackson?
A $108,000 home in Jackson, Mississippi costs approximately $1,068 per month with 20% down at 6.66%. That is $555 principal and interest, $112 property tax, $98 homeowners insurance, $213 utilities and $90 set aside for maintenance.
What is the property tax rate in Jackson?
Jackson has an effective property tax rate of 1.239%, based on a median home value of $108,200 and median real estate taxes of $1,341. That is higher than the Hinds County average of 0.919%.
What is the average home price in Jackson?
The median owner-occupied home value in Jackson, Mississippi is $108,200, against $151,200 across Hinds County.
Is it cheaper to rent or buy in Jackson?
Median gross rent in Jackson is $1,018 a month, against $1,068 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 Jackson — 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.