Total monthly cost of ownership
Cost to Own a Home in Lumberton, Mississippi
A $78,000 home here costs
$870per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $37,500 a year.
A standard mortgage calculator would have told you $425. The real number is $445 higher every month, 105% more than the payment most buyers budget for.
Compare Lamar County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lumberton from a five-year rolling sample, and with about 1,515 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Lamar County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lumberton against Lamar County and Mississippi
| Measure | Lumberton | Lamar County |
|---|---|---|
| Median home value | $78,000 | $218,700 |
| Median property tax | $895 | $1,459 |
| Effective tax rate | 1.147% | 0.667% |
| Median gross rent | $832 | $1,061 |
| Population | 1,515 | 65,081 |
Lumberton extends across 2 counties. Figures here use Lamar County, where most of its housing sits.
The weather behind that power bill
Lumberton sits in Lamar County, which averages a high of 91.8°F in its hottest month and a low of 38.1°F in its coldest, with 58.91" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,479 cooling and 1,920 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Lamar County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lamar County
Full Lamar County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Lumberton averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Lumberton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lumberton I already own here and may sell
Common questions
How much does it cost to own a home in Lumberton?
A $78,000 home in Lumberton, Mississippi costs approximately $870 per month with 20% down at 7.24%. That is $425 principal and interest, $75 property tax, $71 homeowners insurance, $235 utilities and $65 set aside for maintenance.
What is the property tax rate in Lumberton?
Lumberton has an effective property tax rate of 1.147%, based on a median home value of $78,000 and median real estate taxes of $895. That is higher than the Lamar County average of 0.667%.
What is the average home price in Lumberton?
The median owner-occupied home value in Lumberton, Mississippi is $78,000, against $218,700 across Lamar County.
Is it cheaper to rent or buy in Lumberton?
Median gross rent in Lumberton is $832 a month, against $870 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Lumberton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lumberton, Mississippi at today's rate takes a household income of roughly $37,500 a year. That covers the full $870 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lumberton, 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.