Total monthly cost of ownership
Cost to Own a Home in Terry, Mississippi
A $156,000 home here costs
$1,379per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $802. The real number is $577 higher every month — 72% 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.
Terry against Hinds County and Mississippi
| Measure | Terry | Hinds County |
|---|---|---|
| Median home value | $155,800 | $151,200 |
| Median property tax | $1,110 | $1,389 |
| Effective tax rate | 0.712% | 0.919% |
| Median gross rent | $1,125 | $1,032 |
| Population | 1,809 | 222,494 |
The weather behind that power bill
Terry sits in Hinds County, which averages a high of 93.3°F in its hottest month and a low of 35.2°F in its coldest, with 60.15" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,425 cooling and 2,234 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Hinds County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hinds County
Full Hinds County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Terry?
A $156,000 home in Terry, Mississippi costs approximately $1,379 per month with 20% down at 6.66%. That is $802 principal and interest, $93 property tax, $141 homeowners insurance, $213 utilities and $130 set aside for maintenance.
What is the property tax rate in Terry?
Terry has an effective property tax rate of 0.712%, based on a median home value of $155,800 and median real estate taxes of $1,110. That is lower than the Hinds County average of 0.919%.
What is the average home price in Terry?
The median owner-occupied home value in Terry, Mississippi is $155,800, against $151,200 across Hinds County.
Is it cheaper to rent or buy in Terry?
Median gross rent in Terry is $1,125 a month, against $1,379 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 Terry — 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.