Total monthly cost of ownership
Cost to Own a Home in Southaven, Mississippi
A $215,000 home here costs
$1,817per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,105. The real number is $712 higher every month — 64% 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.
Southaven against DeSoto County and Mississippi
| Measure | Southaven | DeSoto County |
|---|---|---|
| Median home value | $214,800 | $248,700 |
| Median property tax | $1,498 | $1,595 |
| Effective tax rate | 0.697% | 0.641% |
| Median gross rent | $1,361 | $1,341 |
| Population | 55,531 | 188,598 |
The weather behind that power bill
Southaven sits in DeSoto County, which averages a high of 90.3°F in its hottest month and a low of 30.2°F in its coldest, with 56.53" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,922 cooling and 3,288 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for DeSoto County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in DeSoto County
Full DeSoto County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Southaven?
A $215,000 home in Southaven, Mississippi costs approximately $1,817 per month with 20% down at 6.66%. That is $1,105 principal and interest, $125 property tax, $195 homeowners insurance, $213 utilities and $179 set aside for maintenance.
What is the property tax rate in Southaven?
Southaven has an effective property tax rate of 0.697%, based on a median home value of $214,800 and median real estate taxes of $1,498. That is higher than the DeSoto County average of 0.641%.
What is the average home price in Southaven?
The median owner-occupied home value in Southaven, Mississippi is $214,800, against $248,700 across DeSoto County.
Is it cheaper to rent or buy in Southaven?
Median gross rent in Southaven is $1,361 a month, against $1,817 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 Southaven — 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.