Total monthly cost of ownership
Cost to Own a Home in Lexington, Mississippi
A $90,000 home here costs
$904per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $463. The real number is $442 higher every month — 95% 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.
Lexington against Holmes County and Mississippi
| Measure | Lexington | Holmes County |
|---|---|---|
| Median home value | $90,300 | $76,500 |
| Median property tax | $864 | $695 |
| Effective tax rate | 0.957% | 0.908% |
| Median gross rent | $629 | $589 |
| Population | 1,202 | 16,491 |
The weather behind that power bill
Lexington sits in Holmes County, which averages a high of 89.8°F in its hottest month and a low of 31.0°F in its coldest, with 56.55" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,786 cooling and 2,966 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Holmes County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Holmes County
Full Holmes County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Lexington?
A $90,000 home in Lexington, Mississippi costs approximately $904 per month with 20% down at 6.66%. That is $463 principal and interest, $72 property tax, $82 homeowners insurance, $213 utilities and $75 set aside for maintenance.
What is the property tax rate in Lexington?
Lexington has an effective property tax rate of 0.957%, based on a median home value of $90,300 and median real estate taxes of $864. That is higher than the Holmes County average of 0.908%.
What is the average home price in Lexington?
The median owner-occupied home value in Lexington, Mississippi is $90,300, against $76,500 across Holmes County.
Is it cheaper to rent or buy in Lexington?
Median gross rent in Lexington is $629 a month, against $904 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 Lexington — 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.