Total monthly cost of ownership
Cost to Own a Home in Magee, Mississippi
A $123,000 home here costs
$1,123per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $632. The real number is $491 higher every month — 78% 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.
Magee against Simpson County and Mississippi
| Measure | Magee | Simpson County |
|---|---|---|
| Median home value | $122,700 | $111,600 |
| Median property tax | $765 | $671 |
| Effective tax rate | 0.623% | 0.601% |
| Median gross rent | $740 | $819 |
| Population | 3,977 | 25,817 |
The weather behind that power bill
Magee sits in Simpson County, which averages a high of 94.7°F in its hottest month and a low of 37.6°F in its coldest, with 57.54" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,826 cooling and 1,888 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Simpson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Simpson County
Full Simpson County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Magee?
A $123,000 home in Magee, Mississippi costs approximately $1,123 per month with 20% down at 6.66%. That is $632 principal and interest, $64 property tax, $111 homeowners insurance, $213 utilities and $103 set aside for maintenance.
What is the property tax rate in Magee?
Magee has an effective property tax rate of 0.623%, based on a median home value of $122,700 and median real estate taxes of $765. That is higher than the Simpson County average of 0.601%.
What is the average home price in Magee?
The median owner-occupied home value in Magee, Mississippi is $122,700, against $111,600 across Simpson County.
Is it cheaper to rent or buy in Magee?
Median gross rent in Magee is $740 a month, against $1,123 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 Magee — 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.