Total monthly cost of ownership
Cost to Own a Home in Ripley, Mississippi
A $133,000 home here costs
$1,277per 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 $54,500 a year.
A standard mortgage calculator would have told you $725. The real number is $552 higher every month, 76% more than the payment most buyers budget for.
Compare Tippah 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.
Ripley against Tippah County and Mississippi
| Measure | Ripley | Tippah County |
|---|---|---|
| Median home value | $132,500 | $128,400 |
| Median property tax | $1,030 | $963 |
| Effective tax rate | 0.777% | 0.750% |
| Median gross rent | $683 | $720 |
| Population | 5,415 | 21,621 |
The weather behind that power bill
Ripley sits in Tippah County, which averages a high of 89.6°F in its hottest month and a low of 29.1°F in its coldest, with 57.63" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,662 cooling and 3,541 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Tippah County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tippah County
Full Tippah County cost breakdown · Every county in Mississippi
Talk to someone who works this market
These are Ripley 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 Ripley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ripley I already own here and may sell
Common questions
How much does it cost to own a home in Ripley?
A $133,000 home in Ripley, Mississippi costs approximately $1,277 per month with 20% down at 7.24%. That is $725 principal and interest, $86 property tax, $120 homeowners insurance, $235 utilities and $111 set aside for maintenance.
What is the property tax rate in Ripley?
Ripley has an effective property tax rate of 0.777%, based on a median home value of $132,500 and median real estate taxes of $1,030. That is higher than the Tippah County average of 0.750%.
What is the average home price in Ripley?
The median owner-occupied home value in Ripley, Mississippi is $132,500, against $128,400 across Tippah County.
Is it cheaper to rent or buy in Ripley?
Median gross rent in Ripley is $683 a month, against $1,277 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 Ripley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ripley, Mississippi at today's rate takes a household income of roughly $54,500 a year. That covers the full $1,277 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ripley, 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.