Total monthly cost of ownership
Cost to Own a Home in Ocean Springs, Mississippi
A $235,000 home here costs
$2,070per 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 $88,500 a year.
A standard mortgage calculator would have told you $1,281. The real number is $789 higher every month, 62% more than the payment most buyers budget for.
Compare Jackson County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ocean Springs against Jackson County and Mississippi
| Measure | Ocean Springs | Jackson County |
|---|---|---|
| Median home value | $235,100 | $181,700 |
| Median property tax | $1,747 | $1,332 |
| Effective tax rate | 0.743% | 0.733% |
| Median gross rent | $1,364 | $1,087 |
| Population | 18,561 | 144,437 |
The weather behind that power bill
Ocean Springs sits in Jackson County, which averages a high of 90.9°F in its hottest month and a low of 40.9°F in its coldest, with 61.73" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 2,614 cooling and 1,558 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Jackson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jackson County
Full Jackson County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Ocean Springs 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 Ocean Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ocean Springs I already own here and may sell
Common questions
How much does it cost to own a home in Ocean Springs?
A $235,000 home in Ocean Springs, Mississippi costs approximately $2,070 per month with 20% down at 7.24%. That is $1,281 principal and interest, $146 property tax, $213 homeowners insurance, $235 utilities and $196 set aside for maintenance.
What is the property tax rate in Ocean Springs?
Ocean Springs has an effective property tax rate of 0.743%, based on a median home value of $235,100 and median real estate taxes of $1,747. That is higher than the Jackson County average of 0.733%.
What is the average home price in Ocean Springs?
The median owner-occupied home value in Ocean Springs, Mississippi is $235,100, against $181,700 across Jackson County.
Is it cheaper to rent or buy in Ocean Springs?
Median gross rent in Ocean Springs is $1,364 a month, against $2,070 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 Ocean Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ocean Springs, Mississippi at today's rate takes a household income of roughly $88,500 a year. That covers the full $2,070 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ocean Springs, 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.