Mortgage payment estimates, closing cost breakdowns, and homebuying data for Jackson, Mississippi.
Median Home Price
$145K
Population
154K
Avg Monthly Rent
$920
Property Tax Rate
0.8% *
* Property tax shown is the Mississippi state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Jackson.
Jackson vs Mississippi Median
The median home price in Jackson is $145,000, which is 17% below the Mississippi state median of $175,000.
Mortgage Calculator — Jackson, MS
Pre-filled with Jackson median home price and Mississippi tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $145K home using Mississippi's 0.8% tax rate and $2,400/yr insurance.
5% Down
$1,248/mo
Down: $7,250
Loan: $138K
P&I: $871
Tax: $97
Insurance: $200
PMI: $80
10% Down
$1,198/mo
Down: $14,500
Loan: $131K
P&I: $825
Tax: $97
Insurance: $200
PMI: $76
20% Down (No PMI)
$1,030/mo
Down: $29,000
Loan: $116K
P&I: $733
Tax: $97
Insurance: $200
Income needed (28% rule): $44K/year with 20% down, $51K/year with 10% down.
Rent vs Buy in Jackson
Rent
$920/mo
vs
Buy (10% down)
$1,198/mo
Price-to-rent ratio: 13.1 — With a ratio under 15, buying in Jackson is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $278 more than renting, but you build equity with every payment.
The median home price in Jackson is $145,000, 17% below the Mississippi state median of $175,000. With a population of 153,701, Jackson is a mid-size city where home prices tend to be more accessible than in many parts of Mississippi.
Property taxes in Mississippi average 0.8% annually. This moderate property tax rate means a $145,000 home in Jackson would carry roughly $97/month in property taxes. Homeowners insurance in Mississippi runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Jackson is $920/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Jackson over the long term.
Jackson offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Mississippi's MHC Smart Solution program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Jackson.