The typical owner-occupied home in Calhoun City is worth about $94,700, 44% below the Mississippi median of $169,800 and 72% below the national median of $332,700. Owners pay a median $730 a year in property taxes, about 0.77% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $40,078 a year, so the median home costs 2.4 times the median income (3.0 times for Mississippi). 67% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
Calhoun City at a glance
| Calhoun City | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $94,700 | $169,800 | $332,700 |
| Median property tax paid per year | $730 | $1,215 | $3,119 |
| Property tax as a share of value | 0.77% | 0.72% | 0.94% |
| Median household income | $40,078 | $56,447 | $80,734 |
| Homes lived in by their owners | 67% | 70% | 65% |
| Owner homes with a mortgage | 44% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $918 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 19.6% | 19.8% | 21.0% |
| Median rent | $537 | $954 | $1,413 |
| Rent as a share of renters' income | 32.5% | 30.7% | 30.6% |
| Median year homes were built | 1971 | 1986 | 1980 |
| Vacant homes | 12.4% | 14.6% | 10.1% |
| Population | 1,745 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Calhoun City
At this week's average 30-year rate of 7.11%, buying the median Calhoun City home of $94,700 with 20% down costs about $610 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $768, 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 $26,137 for the 20%-down payment. That payment is 18% of the median Calhoun City household income of $40,078; at that income and 20% down, the 28% guideline points to a home of about $145,000.
The median rent here is $537 a month, so owning the median home costs about $73 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $18,940 |
|---|---|
| Loan amount | $75,760 |
| Principal and interest | $510 |
| Property taxes (0.77% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| PMI | $0 |
| Total per month | $610 |
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| Down payment | $3,314 |
|---|---|
| Loan amount | $92,985 |
| Principal and interest | $626 |
| Property taxes (0.77% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| FHA mortgage insurance | $42 |
| Total per month | $768 |
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Questions about home buying in Calhoun City
What is the median home value in Calhoun City?
About $94,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Calhoun City?
Homeowners pay a median $730 a year, which is about 0.77% 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 Calhoun City?
For the median home with 20% down at 7.11%, the payment is about $610 a month. Keeping that under 28% of gross income takes about $26,137 a year.
More about Calhoun City
- Mortgage Refinance in Calhoun City
- Debt Relief in Calhoun City
- Home Equity Loans in Calhoun City
- 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