Total monthly cost of ownership
Cost to Own a Home in Laurel, Mississippi
A $110,000 home here costs
$1,078per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $566. The real number is $512 higher every month — 91% 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.
Laurel against Jones County and Mississippi
| Measure | Laurel | Jones County |
|---|---|---|
| Median home value | $110,200 | $126,800 |
| Median property tax | $1,296 | $1,116 |
| Effective tax rate | 1.176% | 0.880% |
| Median gross rent | $839 | $810 |
| Population | 17,129 | 66,839 |
The weather behind that power bill
Laurel sits in Jones County, which averages a high of 93.2°F in its hottest month and a low of 34.6°F in its coldest, with 59.64" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,342 cooling and 2,138 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Jones County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jones County
Full Jones County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Laurel?
A $110,000 home in Laurel, Mississippi costs approximately $1,078 per month with 20% down at 6.66%. That is $566 principal and interest, $108 property tax, $100 homeowners insurance, $213 utilities and $92 set aside for maintenance.
What is the property tax rate in Laurel?
Laurel has an effective property tax rate of 1.176%, based on a median home value of $110,200 and median real estate taxes of $1,296. That is higher than the Jones County average of 0.880%.
What is the average home price in Laurel?
The median owner-occupied home value in Laurel, Mississippi is $110,200, against $126,800 across Jones County.
Is it cheaper to rent or buy in Laurel?
Median gross rent in Laurel is $839 a month, against $1,078 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 Laurel — 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.