Total monthly cost of ownership
Cost to Own a Home in Louisville, Mississippi
A $136,000 home here costs
$1,215per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $699. The real number is $516 higher every month — 74% 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.
Louisville against Winston County and Mississippi
| Measure | Louisville | Winston County |
|---|---|---|
| Median home value | $135,800 | $121,200 |
| Median property tax | $795 | $785 |
| Effective tax rate | 0.585% | 0.648% |
| Median gross rent | $539 | $654 |
| Population | 6,018 | 17,609 |
The weather behind that power bill
Louisville sits in Winston County, which averages a high of 91.5°F in its hottest month and a low of 33.9°F in its coldest, with 57.51" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,114 cooling and 2,631 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Winston County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Winston County
No other places of this size are published in Winston County.
Full Winston County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Louisville?
A $136,000 home in Louisville, Mississippi costs approximately $1,215 per month with 20% down at 6.66%. That is $699 principal and interest, $66 property tax, $123 homeowners insurance, $213 utilities and $113 set aside for maintenance.
What is the property tax rate in Louisville?
Louisville has an effective property tax rate of 0.585%, based on a median home value of $135,800 and median real estate taxes of $795. That is lower than the Winston County average of 0.648%.
What is the average home price in Louisville?
The median owner-occupied home value in Louisville, Mississippi is $135,800, against $121,200 across Winston County.
Is it cheaper to rent or buy in Louisville?
Median gross rent in Louisville is $539 a month, against $1,215 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 Louisville — 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.