The typical owner-occupied home in Pace is worth about $76,000, 55% below the Mississippi median of $169,800 and 77% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.26% of their home's value, lower than the Mississippi rate of 0.72%. The median household earns $27,917 a year, so the median home costs 2.7 times the median income (3.0 times for Mississippi). 73% of occupied homes here are lived in by their owners, and 10% of those owners still have a mortgage.
Pace at a glance
| Pace | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $76,000 | $169,800 | $332,700 |
| Median property tax paid per year | $199 | $1,215 | $3,119 |
| Property tax as a share of value | 0.26% | 0.72% | 0.94% |
| Median household income | $27,917 | $56,447 | $80,734 |
| Homes lived in by their owners | 73% | 70% | 65% |
| Owner homes with a mortgage | 10% | 49% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,394 | $1,963 |
| Median rent | $632 | $954 | $1,413 |
| Rent as a share of renters' income | 31.8% | 30.7% | 30.6% |
| Median year homes were built | 1997 | 1986 | 1980 |
| Vacant homes | 31.2% | 14.6% | 10.1% |
| Population | 104 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Pace
At this week's average 30-year rate of 7.11%, buying the median Pace home of $76,000 with 20% down costs about $457 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $584, 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 $19,592 for the 20%-down payment. That payment is 20% of the median Pace household income of $27,917; at that income and 20% down, the 28% guideline points to a home of about $108,000.
The median rent here is $632 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,200 |
|---|---|
| Loan amount | $60,800 |
| Principal and interest | $409 |
| Property taxes (0.26% a year) | $16 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| PMI | $0 |
| Total per month | $457 |
Change the numbers in the calculator
| Down payment | $2,660 |
|---|---|
| Loan amount | $74,623 |
| Principal and interest | $502 |
| Property taxes (0.26% a year) | $16 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| FHA mortgage insurance | $34 |
| Total per month | $584 |
Change the numbers in the calculator
Questions about home buying in Pace
What is the median home value in Pace?
About $76,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Pace?
Homeowners pay a median $199 a year, which is about 0.26% 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 Pace?
For the median home with 20% down at 7.11%, the payment is about $457 a month. Keeping that under 28% of gross income takes about $19,592 a year.
More about Pace
- Mortgage Refinance in Pace
- Debt Relief in Pace
- Home Equity Loans in Pace
- 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