The typical owner-occupied home in Bruce is worth about $71,700, 58% below the Mississippi median of $169,800 and 78% below the national median of $332,700. Owners pay a median $938 a year in property taxes, about 1.31% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $26,923 a year, so the median home costs 2.7 times the median income (3.0 times for Mississippi). 41% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Bruce at a glance
| Bruce | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $71,700 | $169,800 | $332,700 |
| Median property tax paid per year | $938 | $1,215 | $3,119 |
| Property tax as a share of value | 1.31% | 0.72% | 0.94% |
| Median household income | $26,923 | $56,447 | $80,734 |
| Homes lived in by their owners | 41% | 70% | 65% |
| Owner homes with a mortgage | 25% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $838 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 19.8% | 21.0% |
| Median rent | $643 | $954 | $1,413 |
| Rent as a share of renters' income | 28.3% | 30.7% | 30.6% |
| Median year homes were built | 1974 | 1986 | 1980 |
| Vacant homes | 25.1% | 14.6% | 10.1% |
| Population | 1,483 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Bruce
At this week's average 30-year rate of 7.11%, buying the median Bruce home of $71,700 with 20% down costs about $494 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $613, 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 $21,172 for the 20%-down payment. That payment is 22% of the median Bruce household income of $26,923; at that income and 20% down, the 28% guideline points to a home of about $91,000.
The median rent here is $643 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $14,340 |
|---|---|
| Loan amount | $57,360 |
| Principal and interest | $386 |
| Property taxes (1.31% a year) | $78 |
| Homeowners insurance (our estimate, 0.5% a year) | $30 |
| PMI | $0 |
| Total per month | $494 |
Change the numbers in the calculator
| Down payment | $2,510 |
|---|---|
| Loan amount | $70,401 |
| Principal and interest | $474 |
| Property taxes (1.31% a year) | $78 |
| Homeowners insurance (our estimate, 0.5% a year) | $30 |
| FHA mortgage insurance | $32 |
| Total per month | $613 |
Change the numbers in the calculator
Questions about home buying in Bruce
What is the median home value in Bruce?
About $71,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bruce?
Homeowners pay a median $938 a year, which is about 1.31% 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 Bruce?
For the median home with 20% down at 7.11%, the payment is about $494 a month. Keeping that under 28% of gross income takes about $21,172 a year.
More about Bruce
- Mortgage Refinance in Bruce
- Debt Relief in Bruce
- Home Equity Loans in Bruce
- 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