The typical owner-occupied home in Gunnison is worth about $57,000, 66% below the Mississippi median of $169,800 and 83% below the national median of $332,700. Owners pay a median $506 a year in property taxes, about 0.89% of their home's value, higher than the Mississippi rate of 0.72%. 71% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Gunnison at a glance
| Gunnison | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $57,000 | $169,800 | $332,700 |
| Median property tax paid per year | $506 | $1,215 | $3,119 |
| Property tax as a share of value | 0.89% | 0.72% | 0.94% |
| Median household income | – | $56,447 | $80,734 |
| Homes lived in by their owners | 71% | 70% | 65% |
| Owner homes with a mortgage | 45% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,330 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 43.8% | 19.8% | 21.0% |
| Median rent | $362 | $954 | $1,413 |
| Rent as a share of renters' income | 22.5% | 30.7% | 30.6% |
| Median year homes were built | 2001 | 1986 | 1980 |
| Vacant homes | 14.5% | 14.6% | 10.1% |
| Population | 392 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Gunnison
At this week's average 30-year rate of 7.11%, buying the median Gunnison home of $57,000 with 20% down costs about $373 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $468, 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 $15,976 for the 20%-down payment.
The median rent here is $362 a month, so owning the median home costs about $11 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $11,400 |
|---|---|
| Loan amount | $45,600 |
| Principal and interest | $307 |
| Property taxes (0.89% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $373 |
Change the numbers in the calculator
| Down payment | $1,995 |
|---|---|
| Loan amount | $55,968 |
| Principal and interest | $376 |
| Property taxes (0.89% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $468 |
Change the numbers in the calculator
Questions about home buying in Gunnison
What is the median home value in Gunnison?
About $57,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gunnison?
Homeowners pay a median $506 a year, which is about 0.89% 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 Gunnison?
For the median home with 20% down at 7.11%, the payment is about $373 a month. Keeping that under 28% of gross income takes about $15,976 a year.
More about Gunnison
- Mortgage Refinance in Gunnison
- Debt Relief in Gunnison
- Home Equity Loans in Gunnison
- 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