The typical owner-occupied home in Seminary is worth about $162,500, 4% below the Mississippi median of $169,800 and 51% below the national median of $332,700. The median household earns $58,056 a year, so the median home costs 2.8 times the median income (3.0 times for Mississippi). 75% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Seminary at a glance
| Seminary | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $162,500 | $169,800 | $332,700 |
| Median property tax paid per year | – | $1,215 | $3,119 |
| Median household income | $58,056 | $56,447 | $80,734 |
| Homes lived in by their owners | 75% | 70% | 65% |
| Owner homes with a mortgage | 52% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,400 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 19.8% | 21.0% |
| Median rent | – | $954 | $1,413 |
| Rent as a share of renters' income | 37.5% | 30.7% | 30.6% |
| Median year homes were built | 1981 | 1986 | 1980 |
| Vacant homes | 22.7% | 14.6% | 10.1% |
| Population | 229 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Seminary
At this week's average 30-year rate of 7.11%, buying the median Seminary home of $162,500 with 20% down costs about $1,091 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,362, 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 $46,765 for the 20%-down payment. That payment is 23% of the median Seminary household income of $58,056; at that income and 20% down, the 28% guideline points to a home of about $202,000.
| Down payment | $32,500 |
|---|---|
| Loan amount | $130,000 |
| Principal and interest | $875 |
| Property taxes (1.10% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| PMI | $0 |
| Total per month | $1,091 |
Change the numbers in the calculator
| Down payment | $5,688 |
|---|---|
| Loan amount | $159,557 |
| Principal and interest | $1,073 |
| Property taxes (1.10% a year) | $149 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| FHA mortgage insurance | $72 |
| Total per month | $1,362 |
Change the numbers in the calculator
Questions about home buying in Seminary
What is the median home value in Seminary?
About $162,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Seminary?
For the median home with 20% down at 7.11%, the payment is about $1,091 a month. Keeping that under 28% of gross income takes about $46,765 a year.
More about Seminary
- Mortgage Refinance in Seminary
- Debt Relief in Seminary
- Home Equity Loans in Seminary
- 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