Total monthly cost of ownership
Cost to Own a Home in Richton, Mississippi
A $138,000 home here costs
$1,314per 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 $56,500 a year.
A standard mortgage calculator would have told you $752. The real number is $561 higher every month, 75% more than the payment most buyers budget for.
Compare Perry County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Richton from a five-year rolling sample, and with about 1,180 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 Perry 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.
Richton against Perry County and Mississippi
| Measure | Richton | Perry County |
|---|---|---|
| Median home value | $137,600 | $126,000 |
| Median property tax | — | $947 |
| Effective tax rate | 0.752% | 0.752% |
| Median gross rent | — | $650 |
| Population | 1,180 | 11,459 |
The weather behind that power bill
Richton sits in Perry County, which averages a high of 93.7°F in its hottest month and a low of 35.6°F in its coldest, with 63.86" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 2,501 cooling and 1,987 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Perry County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Perry County
No other places of this size are published in Perry County.
Full Perry County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Richton 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 Richton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Richton I already own here and may sell
Common questions
How much does it cost to own a home in Richton?
A $138,000 home in Richton, Mississippi costs approximately $1,314 per month with 20% down at 7.24%. That is $752 principal and interest, $86 property tax, $125 homeowners insurance, $235 utilities and $115 set aside for maintenance.
What is the property tax rate in Richton?
Place-level tax data is not published for Richton, so the Perry County rate of 0.752% applies here.
What is the average home price in Richton?
The median owner-occupied home value in Richton, Mississippi is $137,600, against $126,000 across Perry County.
Is it cheaper to rent or buy in Richton?
Rent data is not published for Richton at this level of detail.
What salary do you need to buy a home in Richton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Richton, Mississippi at today's rate takes a household income of roughly $56,500 a year. That covers the full $1,314 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Richton, 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.