CALCMONEY // HOME AFFORDABILITY // MS // JACKSON
How much house can you afford in Jackson? Based on local median home prices, current MS mortgage rates, and Jackson property tax data.
$145,000
$908/mo
$38,915/yr
$158,591
Monthly housing costs of $908 represent 25.9% of Jackson's median gross monthly income ($3,500/mo). At 25.9%, Jackson falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $145,000 |
| Down Payment (20%) | $29,000 |
| Loan Amount | $116,000 |
| Monthly PI Payment | $768 |
| Monthly Property Tax | $80 |
| Monthly Insurance Est. | $60 |
| Total Monthly PITI | $908 |
| Housing Cost % of Income | 25.9% |
| Required Income (28% rule) | $38,915/yr |
| Max Affordable Home | $158,591 |
$5,075
$1,166/mo
Jackson Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $145,000 | Jackson city median |
| Down Payment (20%) | $29,000 | Conventional loan |
| Monthly PITI | $908 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $38,915 | Annual gross |
| Max Affordable Home | $158,591 | Based on median income |
| FHA Down (3.5%) | $5,075 | Minimum FHA |
| Housing Cost % of Income | 25.9% | Median income: $42,000/yr |
| Property Tax Rate | 0.66% | $957/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Jackson is $145,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $116,000, generating a monthly P&I payment of $768. Adding property taxes ($80/mo) and homeowners insurance ($60/mo) brings total monthly PITI to $908.
Jackson's property tax rate of 0.66% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Jackson median home, that is $80/month, or $957 per year.
Mississippi levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Jackson should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Jackson's median income of $42,000/year can afford up to $980/month in total housing costs. Based on Jackson's mortgage rate of 6.95% and property tax rate of 0.66%, that translates to a maximum affordable home price of approximately $158,591 with 20% down on a 30-year loan.
To afford the median Jackson home priced at $145,000, you need an annual gross income of approximately $38,915. Total monthly housing costs (principal and interest of $768, property taxes of $80, and insurance of $60) come to $908/month, which equals 28% of the required income.
At the median home price of $145,000 and median household income of $42,000, the total monthly housing cost of $908 represents 25.9% of gross monthly income. This is within the standard 28% guideline, making Jackson relatively accessible at current income levels.
A conventional 20% down payment on the median Jackson home of $145,000 is $29,000. An FHA loan requires just 3.5% down — $5,075 — but adds mortgage insurance of roughly $99/month, bringing total FHA payments to $1,166/month.
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