The typical owner-occupied home in Collins is worth about $84,200, 50% below the Mississippi median of $169,800 and 75% below the national median of $332,700. Owners pay a median $511 a year in property taxes, about 0.61% of their home's value, lower than the Mississippi rate of 0.72%. The median household earns $37,944 a year, so the median home costs 2.2 times the median income (3.0 times for Mississippi). 55% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Collins at a glance
| Collins | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $84,200 | $169,800 | $332,700 |
| Median property tax paid per year | $511 | $1,215 | $3,119 |
| Property tax as a share of value | 0.61% | 0.72% | 0.94% |
| Median household income | $37,944 | $56,447 | $80,734 |
| Homes lived in by their owners | 55% | 70% | 65% |
| Owner homes with a mortgage | 45% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $862 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 23.0% | 19.8% | 21.0% |
| Median rent | $751 | $954 | $1,413 |
| Rent as a share of renters' income | 25.8% | 30.7% | 30.6% |
| Median year homes were built | 1979 | 1986 | 1980 |
| Vacant homes | 9.8% | 14.6% | 10.1% |
| Population | 2,455 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Collins
At this week's average 30-year rate of 7.11%, buying the median Collins home of $84,200 with 20% down costs about $531 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $671, 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 $22,758 for the 20%-down payment. That payment is 17% of the median Collins household income of $37,944; at that income and 20% down, the 28% guideline points to a home of about $140,000.
The median rent here is $751 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,840 |
|---|---|
| Loan amount | $67,360 |
| Principal and interest | $453 |
| Property taxes (0.61% a year) | $43 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $531 |
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| Down payment | $2,947 |
|---|---|
| Loan amount | $82,675 |
| Principal and interest | $556 |
| Property taxes (0.61% a year) | $43 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $671 |
Change the numbers in the calculator
Questions about home buying in Collins
What is the median home value in Collins?
About $84,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Collins?
Homeowners pay a median $511 a year, which is about 0.61% 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 Collins?
For the median home with 20% down at 7.11%, the payment is about $531 a month. Keeping that under 28% of gross income takes about $22,758 a year.
More about Collins
- Mortgage Refinance in Collins
- Debt Relief in Collins
- Home Equity Loans in Collins
- 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