Total monthly cost of ownership
Cost to Own a Home in Tupelo, Mississippi
A $201,000 home here costs
$1,736per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,033. The real number is $703 higher every month — 68% 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.
Tupelo against Lee County and Mississippi
| Measure | Tupelo | Lee County |
|---|---|---|
| Median home value | $201,300 | $187,800 |
| Median property tax | $1,681 | $1,356 |
| Effective tax rate | 0.835% | 0.722% |
| Median gross rent | $940 | $929 |
| Population | 37,825 | 83,138 |
The weather behind that power bill
Tupelo sits in Lee County, which averages a high of 92.3°F in its hottest month and a low of 33.6°F in its coldest, with 57.74" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 2,235 cooling and 2,727 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Lee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lee County
Full Lee County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Tupelo?
A $201,000 home in Tupelo, Mississippi costs approximately $1,736 per month with 20% down at 6.66%. That is $1,033 principal and interest, $140 property tax, $182 homeowners insurance, $213 utilities and $168 set aside for maintenance.
What is the property tax rate in Tupelo?
Tupelo has an effective property tax rate of 0.835%, based on a median home value of $201,300 and median real estate taxes of $1,681. That is higher than the Lee County average of 0.722%.
What is the average home price in Tupelo?
The median owner-occupied home value in Tupelo, Mississippi is $201,300, against $187,800 across Lee County.
Is it cheaper to rent or buy in Tupelo?
Median gross rent in Tupelo is $940 a month, against $1,736 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 Tupelo — 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.