Total monthly cost of ownership
Cost to Own a Home in Picayune, Mississippi
A $147,000 home here costs
$1,330per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $756. The real number is $575 higher every month — 76% 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.
Picayune against Pearl River County and Mississippi
| Measure | Picayune | Pearl River County |
|---|---|---|
| Median home value | $146,500 | $174,500 |
| Median property tax | $1,263 | $1,181 |
| Effective tax rate | 0.862% | 0.677% |
| Median gross rent | $907 | $887 |
| Population | 11,839 | 56,781 |
The weather behind that power bill
Picayune 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 $145 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
Common questions
How much does it cost to own a home in Picayune?
A $147,000 home in Picayune, Mississippi costs approximately $1,330 per month with 20% down at 6.66%. That is $756 principal and interest, $106 property tax, $133 homeowners insurance, $213 utilities and $123 set aside for maintenance.
What is the property tax rate in Picayune?
Picayune has an effective property tax rate of 0.862%, based on a median home value of $146,500 and median real estate taxes of $1,263. That is higher than the Pearl River County average of 0.677%.
What is the average home price in Picayune?
The median owner-occupied home value in Picayune, Mississippi is $146,500, against $174,500 across Pearl River County.
Is it cheaper to rent or buy in Picayune?
Median gross rent in Picayune is $907 a month, against $1,330 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 Picayune — 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.