Buying a home in Mississippi

Property taxes, transfer taxes, home values and first-time buyer help in Mississippi.

Effective property tax rate
0.72%
Median tax $1,215 ÷ median value $169,800 (ACS 2020–2024)
Typical home value
$197,606
Zillow ZHVI, 2026-08
State transfer tax
0%
Usually paid by: negotiable. No transfer-tax statute. Official source. Local taxes may add more.
Estimated buyer closing costs Estimate
$2,100–$3,900
On a $197,606 home: typical lender fees + title insurance + deed recording (TallyClose) + the buyer’s share of transfer/recording taxes. Excludes prepaids, escrow and local taxes.

At Mississippi's effective rate of 0.72%, a typical $197,606 home would owe about $1,423/year ($119/month) in property taxes. Actual bills depend on your county, city and exemptions. Run your numbers.

First-time homebuyer programs

Mississippi Home Corporation

Your state housing finance agency offers down payment assistance and low-rate mortgages for eligible buyers. Visit Mississippi Home Corporation →

Sources: U.S. Census Bureau ACS 2020–2024 5-year (B25103, B25077); Zillow Home Value Index; TallyClose closing-cost dataset (CC BY 4.0), which cites each state statute; NCSHA HFA directory. Last updated 2026-10-15.