Total monthly cost of ownership
Cost to Own a Home in Philadelphia, Mississippi
A $96,000 home here costs
$956per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $494. The real number is $463 higher every month — 94% 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.
Philadelphia against Neshoba County and Mississippi
| Measure | Philadelphia | Neshoba County |
|---|---|---|
| Median home value | $95,600 | $96,600 |
| Median property tax | $985 | $856 |
| Effective tax rate | 1.030% | 0.886% |
| Median gross rent | $760 | $759 |
| Population | 7,030 | 28,927 |
The weather behind that power bill
Philadelphia sits in Neshoba County, which averages a high of 89.7°F in its hottest month and a low of 34.3°F in its coldest, with 58.22" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,910 cooling and 2,532 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Neshoba County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Neshoba County
Full Neshoba County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Philadelphia?
A $96,000 home in Philadelphia, Mississippi costs approximately $956 per month with 20% down at 6.66%. That is $494 principal and interest, $82 property tax, $87 homeowners insurance, $213 utilities and $80 set aside for maintenance.
What is the property tax rate in Philadelphia?
Philadelphia has an effective property tax rate of 1.030%, based on a median home value of $95,600 and median real estate taxes of $985. That is higher than the Neshoba County average of 0.886%.
What is the average home price in Philadelphia?
The median owner-occupied home value in Philadelphia, Mississippi is $95,600, against $96,600 across Neshoba County.
Is it cheaper to rent or buy in Philadelphia?
Median gross rent in Philadelphia is $760 a month, against $956 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 Philadelphia — 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.