The typical owner-occupied home in Benoit is worth about $83,100, 51% below the Mississippi median of $169,800 and 75% below the national median of $332,700. Owners pay a median $1,040 a year in property taxes, about 1.25% of their home's value, higher than the Mississippi rate of 0.72%. 82% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Benoit at a glance
| Benoit | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $83,100 | $169,800 | $332,700 |
| Median property tax paid per year | $1,040 | $1,215 | $3,119 |
| Property tax as a share of value | 1.25% | 0.72% | 0.94% |
| Median household income | – | $56,447 | $80,734 |
| Homes lived in by their owners | 82% | 70% | 65% |
| Owner homes with a mortgage | 40% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,301 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 12.9% | 19.8% | 21.0% |
| Median rent | $455 | $954 | $1,413 |
| Rent as a share of renters' income | 48.0% | 30.7% | 30.6% |
| Median year homes were built | 1958 | 1986 | 1980 |
| Vacant homes | 11.3% | 14.6% | 10.1% |
| Population | 509 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Benoit
At this week's average 30-year rate of 7.11%, buying the median Benoit home of $83,100 with 20% down costs about $568 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $707, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,360 for the 20%-down payment.
The median rent here is $455 a month, so owning the median home costs about $113 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $16,620 |
|---|---|
| Loan amount | $66,480 |
| Principal and interest | $447 |
| Property taxes (1.25% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $568 |
Change the numbers in the calculator
| Down payment | $2,908 |
|---|---|
| Loan amount | $81,595 |
| Principal and interest | $549 |
| Property taxes (1.25% a year) | $87 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $707 |
Change the numbers in the calculator
Questions about home buying in Benoit
What is the median home value in Benoit?
About $83,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Benoit?
Homeowners pay a median $1,040 a year, which is about 1.25% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Benoit?
For the median home with 20% down at 7.11%, the payment is about $568 a month. Keeping that under 28% of gross income takes about $24,360 a year.
More about Benoit
- Mortgage Refinance in Benoit
- Debt Relief in Benoit
- Home Equity Loans in Benoit
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data