Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Mississippi and North Dakota. Updated for 2026.
Mississippi wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $175K and lower overall costs, Mississippi offers meaningful savings compared to North Dakota. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Mississippi saves you approximately $551/month ($6,612/year) compared to North Dakota, based on median home prices with identical loan terms.
Mississippi offers meaningfully lower home prices than North Dakota, with median prices running 31% less ($80K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of North Dakota may find Mississippi far more accessible, particularly when combined with local down payment assistance programs.
Property tax rates are similar in both states (Mississippi: 0.8%, North Dakota: 0.98%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Both states offer down payment assistance for first-time buyers. Mississippi's MHC Smart Solution provides Up to $10,000 DPA, while North Dakota's NDHFA FirstHome offers DCA up to $14,000. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Mississippi homes cost $80K less than North Dakota on average. That translates to roughly $551 less per month in total housing costs if you choose Mississippi. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.