The typical owner-occupied home in Lyon is worth about $151,800, 11% below the Mississippi median of $169,800 and 54% below the national median of $332,700. Owners pay a median $1,284 a year in property taxes, about 0.85% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $83,438 a year, so the median home costs 1.8 times the median income (3.0 times for Mississippi). 65% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Lyon at a glance
| Lyon | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $151,800 | $169,800 | $332,700 |
| Median property tax paid per year | $1,284 | $1,215 | $3,119 |
| Property tax as a share of value | 0.85% | 0.72% | 0.94% |
| Median household income | $83,438 | $56,447 | $80,734 |
| Homes lived in by their owners | 65% | 70% | 65% |
| Owner homes with a mortgage | 39% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,317 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 13.1% | 19.8% | 21.0% |
| Median rent | $789 | $954 | $1,413 |
| Rent as a share of renters' income | 27.1% | 30.7% | 30.6% |
| Median year homes were built | 1971 | 1986 | 1980 |
| Vacant homes | 6.5% | 14.6% | 10.1% |
| Population | 386 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Lyon
At this week's average 30-year rate of 7.11%, buying the median Lyon home of $151,800 with 20% down costs about $988 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,241, 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 $42,330 for the 20%-down payment. That payment is 14% of the median Lyon household income of $83,438; at that income and 20% down, the 28% guideline points to a home of about $299,000.
The median rent here is $789 a month, so owning the median home costs about $199 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,360 |
|---|---|
| Loan amount | $121,440 |
| Principal and interest | $817 |
| Property taxes (0.85% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $988 |
Change the numbers in the calculator
| Down payment | $5,313 |
|---|---|
| Loan amount | $149,051 |
| Principal and interest | $1,003 |
| Property taxes (0.85% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,241 |
Change the numbers in the calculator
Questions about home buying in Lyon
What is the median home value in Lyon?
About $151,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lyon?
Homeowners pay a median $1,284 a year, which is about 0.85% 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 Lyon?
For the median home with 20% down at 7.11%, the payment is about $988 a month. Keeping that under 28% of gross income takes about $42,330 a year.
More about Lyon
- Mortgage Refinance in Lyon
- Debt Relief in Lyon
- Home Equity Loans in Lyon
- 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