Total monthly cost of ownership
Cost to Own a Home in Nicholson, Mississippi
A $99,000 home here costs
$1,015per 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 $43,500 a year.
A standard mortgage calculator would have told you $540. The real number is $475 higher every month, 88% more than the payment most buyers budget for.
Compare Pearl River County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Nicholson from a five-year rolling sample, and with about 2,523 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 Pearl River 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.
Nicholson against Pearl River County and Mississippi
| Measure | Nicholson | Pearl River County |
|---|---|---|
| Median home value | $98,500 | $174,500 |
| Median property tax | $814 | $1,181 |
| Effective tax rate | 0.826% | 0.677% |
| Median gross rent | $852 | $887 |
| Population | 2,523 | 56,781 |
The weather behind that power bill
Nicholson sits in Pearl River County, which averages a high of 91.0°F in its hottest month and a low of 38.6°F in its coldest, with 64.98" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,320 cooling and 1,931 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Pearl River County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pearl River County
Full Pearl River County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Nicholson 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 Nicholson every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Nicholson I already own here and may sell
Common questions
How much does it cost to own a home in Nicholson?
A $99,000 home in Nicholson, Mississippi costs approximately $1,015 per month with 20% down at 7.24%. That is $540 principal and interest, $68 property tax, $90 homeowners insurance, $235 utilities and $83 set aside for maintenance.
What is the property tax rate in Nicholson?
Nicholson has an effective property tax rate of 0.826%, based on a median home value of $98,500 and median real estate taxes of $814. That is higher than the Pearl River County average of 0.677%.
What is the average home price in Nicholson?
The median owner-occupied home value in Nicholson, Mississippi is $98,500, against $174,500 across Pearl River County.
Is it cheaper to rent or buy in Nicholson?
Median gross rent in Nicholson is $852 a month, against $1,015 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 Nicholson?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Nicholson, Mississippi at today's rate takes a household income of roughly $43,500 a year. That covers the full $1,015 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Nicholson, 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.