Smith County, MS real estate

What the numbers say

Smith County, MS real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Smith County pay a median of $469 a year in property taxes on a median home value of $112,600, an effective rate of about 0.42%. The Mississippi average is 0.72%, which makes Smith County the #2 lowest-tax of 81 counties in the state with published tax data.

Renters pay a median of $664 a month, and $650 for a two-bedroom. At today's prices a typical home costs about 14 times a year's rent, which generally favors buying.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $113,000 home here comes to about $700 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $30,000 a year (the median household here earns $60,916).