Total monthly cost of ownership
Cost to Own a Home in Water Valley, Mississippi
A $111,000 home here costs
$1,053per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $571. The real number is $482 higher every month — 85% 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.
Water Valley against Yalobusha County and Mississippi
| Measure | Water Valley | Yalobusha County |
|---|---|---|
| Median home value | $111,000 | $97,200 |
| Median property tax | $911 | $800 |
| Effective tax rate | 0.821% | 0.823% |
| Median gross rent | $592 | $810 |
| Population | 3,380 | 12,439 |
The weather behind that power bill
Water Valley sits in Yalobusha County, which averages a high of 91.2°F in its hottest month and a low of 29.7°F in its coldest, with 58.57" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,881 cooling and 3,126 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Yalobusha County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Yalobusha County
No other places of this size are published in Yalobusha County.
Full Yalobusha County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Water Valley?
A $111,000 home in Water Valley, Mississippi costs approximately $1,053 per month with 20% down at 6.66%. That is $571 principal and interest, $76 property tax, $101 homeowners insurance, $213 utilities and $93 set aside for maintenance.
What is the property tax rate in Water Valley?
Water Valley has an effective property tax rate of 0.821%, based on a median home value of $111,000 and median real estate taxes of $911. That is in line with the Yalobusha County average of 0.823%.
What is the average home price in Water Valley?
The median owner-occupied home value in Water Valley, Mississippi is $111,000, against $97,200 across Yalobusha County.
Is it cheaper to rent or buy in Water Valley?
Median gross rent in Water Valley is $592 a month, against $1,053 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 Water Valley — 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.