Total monthly cost of ownership
Cost to Own a Home in Waveland, Mississippi
A $202,000 home here costs
$1,734per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,038. The real number is $695 higher every month — 67% 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.
Waveland against Hancock County and Mississippi
| Measure | Waveland | Hancock County |
|---|---|---|
| Median home value | $201,800 | $206,600 |
| Median property tax | $1,563 | $1,485 |
| Effective tax rate | 0.775% | 0.719% |
| Median gross rent | $828 | $999 |
| Population | 7,066 | 46,057 |
The weather behind that power bill
Waveland sits in Hancock County, which averages a high of 88.8°F in its hottest month and a low of 39.8°F in its coldest, with 64.01" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,140 cooling and 1,911 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Hancock County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hancock County
Full Hancock County cost breakdown · Every county in Mississippi
Common questions
How much does it cost to own a home in Waveland?
A $202,000 home in Waveland, Mississippi costs approximately $1,734 per month with 20% down at 6.66%. That is $1,038 principal and interest, $130 property tax, $183 homeowners insurance, $213 utilities and $168 set aside for maintenance.
What is the property tax rate in Waveland?
Waveland has an effective property tax rate of 0.775%, based on a median home value of $201,800 and median real estate taxes of $1,563. That is higher than the Hancock County average of 0.719%.
What is the average home price in Waveland?
The median owner-occupied home value in Waveland, Mississippi is $201,800, against $206,600 across Hancock County.
Is it cheaper to rent or buy in Waveland?
Median gross rent in Waveland is $828 a month, against $1,734 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 Waveland — 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.