Total monthly cost of ownership
Cost to Own a Home in Oxford, Mississippi
A $333,000 home here costs
$2,847per 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 $122,000 a year.
A standard mortgage calculator would have told you $1,816. The real number is $1,032 higher every month, 57% more than the payment most buyers budget for.
Compare Lafayette 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.
Oxford against Lafayette County and Mississippi
| Measure | Oxford | Lafayette County |
|---|---|---|
| Median home value | $333,400 | $260,500 |
| Median property tax | $2,613 | $1,672 |
| Effective tax rate | 0.784% | 0.642% |
| Median gross rent | $1,093 | $1,091 |
| Population | 26,086 | 56,920 |
The weather behind that power bill
Oxford sits in Lafayette County, which averages a high of 91.3°F in its hottest month and a low of 30.6°F in its coldest, with 60.52" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,982 cooling and 3,068 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Lafayette County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lafayette County
No other places of this size are published in Lafayette County.
Full Lafayette County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Oxford 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 Oxford every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oxford I already own here and may sell
Common questions
How much does it cost to own a home in Oxford?
A $333,000 home in Oxford, Mississippi costs approximately $2,847 per month with 20% down at 7.24%. That is $1,816 principal and interest, $218 property tax, $302 homeowners insurance, $235 utilities and $278 set aside for maintenance.
What is the property tax rate in Oxford?
Oxford has an effective property tax rate of 0.784%, based on a median home value of $333,400 and median real estate taxes of $2,613. That is higher than the Lafayette County average of 0.642%.
What is the average home price in Oxford?
The median owner-occupied home value in Oxford, Mississippi is $333,400, against $260,500 across Lafayette County.
Is it cheaper to rent or buy in Oxford?
Median gross rent in Oxford is $1,093 a month, against $2,847 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 Oxford?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oxford, Mississippi at today's rate takes a household income of roughly $122,000 a year. That covers the full $2,847 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oxford, 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.