Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Mississippi and Texas. Updated for 2026.
Mississippi wins 5 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 Texas. 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.
The monthly payment difference is $1,283/month — that’s $15,396/year or $462K over the life of a 30-year loan. Buying in Mississippi is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in Texas, you need a household income of approximately $114K/year. In Mississippi, you need $59K/year — less by $55K/year. That $55K income gap means Mississippi is accessible to a significantly wider range of households.
Mississippi offers meaningfully lower home prices than Texas, with median prices running 44% less ($135K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Texas may find Mississippi far more accessible, particularly when combined with local down payment assistance programs.
Mississippi has a moderate property tax advantage at 0.8% versus Texas's 1.8%. While the rate gap of 1.00% may seem small, it translates to an annual difference of approximately $4,180 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $33K in savings.
Insurance costs favor Mississippi at $2,400/year versus $3,800/year in Texas, a difference of $1,400 annually. While not the largest cost factor, this adds up to over $14K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Both states offer down payment assistance for first-time buyers. Mississippi's MHC Smart Solution provides Up to $10,000 DPA, while Texas's TDHCA My First Texas Home offers Up to 5% DPA grant. 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 $135K less than Texas on average. That translates to roughly $1,283 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.