Mortgage Calculator & Closing Costs: Olive Branch, MS
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Olive Branch, Mississippi.
Median Home Price
$265K
Population
40K
Avg Monthly Rent
$1,220
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 Olive Branch.
Olive Branch vs Mississippi Median
The median home price in Olive Branch is $265,000, which is 51% above the Mississippi state median of $175,000.
Mortgage Calculator — Olive Branch, MS
Pre-filled with Olive Branch median home price and Mississippi tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $265K home using Mississippi's 0.8% tax rate and $2,400/yr insurance.
5% Down
$2,115/mo
Down: $13,250
Loan: $252K
P&I: $1,591
Tax: $177
Insurance: $200
PMI: $147
10% Down
$2,023/mo
Down: $26,500
Loan: $239K
P&I: $1,507
Tax: $177
Insurance: $200
PMI: $139
20% Down (No PMI)
$1,717/mo
Down: $53,000
Loan: $212K
P&I: $1,340
Tax: $177
Insurance: $200
Income needed (28% rule): $74K/year with 20% down, $87K/year with 10% down.
Rent vs Buy in Olive Branch
Rent
$1,220/mo
vs
Buy (10% down)
$2,023/mo
Price-to-rent ratio: 18.1 — A ratio between 15-20 means the rent vs buy decision in Olive Branch depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Olive Branch is $265,000, 51% above the Mississippi state median of $175,000. With a population of 40,375, Olive Branch is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Mississippi average 0.8% annually. This moderate property tax rate means a $265,000 home in Olive Branch would carry roughly $177/month in property taxes. Homeowners insurance in Mississippi runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Olive Branch is $1,220/month. The price-to-rent ratio in Olive Branch is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Olive Branch presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Olive Branch.