Total monthly cost of ownership
Cost to Own a Home in Ridgeland, Mississippi
A $260,000 home here costs
$2,164per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,337. The real number is $828 higher every month — 62% 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.
Ridgeland against Madison County and Mississippi
| Measure | Ridgeland | Madison County |
|---|---|---|
| Median home value | $259,600 | $286,300 |
| Median property tax | $1,945 | $2,071 |
| Effective tax rate | 0.749% | 0.723% |
| Median gross rent | $1,204 | $1,097 |
| Population | 24,548 | 110,303 |
The weather behind that power bill
Ridgeland sits in Madison County, which averages a high of 91.8°F in its hottest month and a low of 33.6°F in its coldest, with 57.05" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,083 cooling and 2,629 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Madison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Ridgeland?
A $260,000 home in Ridgeland, Mississippi costs approximately $2,164 per month with 20% down at 6.66%. That is $1,337 principal and interest, $162 property tax, $236 homeowners insurance, $213 utilities and $217 set aside for maintenance.
What is the property tax rate in Ridgeland?
Ridgeland has an effective property tax rate of 0.749%, based on a median home value of $259,600 and median real estate taxes of $1,945. That is higher than the Madison County average of 0.723%.
What is the average home price in Ridgeland?
The median owner-occupied home value in Ridgeland, Mississippi is $259,600, against $286,300 across Madison County.
Is it cheaper to rent or buy in Ridgeland?
Median gross rent in Ridgeland is $1,204 a month, against $2,164 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 Ridgeland — 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.