The typical owner-occupied home in Friars Point is worth about $56,400, 67% below the Mississippi median of $169,800 and 83% below the national median of $332,700. Owners pay a median $577 a year in property taxes, about 1.02% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $17,205 a year, so the median home costs 3.3 times the median income (3.0 times for Mississippi). 29% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Friars Point at a glance
| Friars Point | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $56,400 | $169,800 | $332,700 |
| Median property tax paid per year | $577 | $1,215 | $3,119 |
| Property tax as a share of value | 1.02% | 0.72% | 0.94% |
| Median household income | $17,205 | $56,447 | $80,734 |
| Homes lived in by their owners | 29% | 70% | 65% |
| Owner homes with a mortgage | 23% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,125 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 30.8% | 19.8% | 21.0% |
| Median rent | $446 | $954 | $1,413 |
| Rent as a share of renters' income | 38.5% | 30.7% | 30.6% |
| Median year homes were built | 1989 | 1986 | 1980 |
| Vacant homes | 13.1% | 14.6% | 10.1% |
| Population | 884 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Friars Point
At this week's average 30-year rate of 7.11%, buying the median Friars Point home of $56,400 with 20% down costs about $375 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $469, 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 $16,070 for the 20%-down payment. That payment is 26% of the median Friars Point household income of $17,205; at that income and 20% down, the 28% guideline points to a home of about $60,000.
The median rent here is $446 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,280 |
|---|---|
| Loan amount | $45,120 |
| Principal and interest | $304 |
| Property taxes (1.02% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $375 |
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| Down payment | $1,974 |
|---|---|
| Loan amount | $55,378 |
| Principal and interest | $373 |
| Property taxes (1.02% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $469 |
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Questions about home buying in Friars Point
What is the median home value in Friars Point?
About $56,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Friars Point?
Homeowners pay a median $577 a year, which is about 1.02% 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 Friars Point?
For the median home with 20% down at 7.11%, the payment is about $375 a month. Keeping that under 28% of gross income takes about $16,070 a year.
More about Friars Point
- Mortgage Refinance in Friars Point
- Debt Relief in Friars Point
- Home Equity Loans in Friars Point
- 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