The typical owner-occupied home in Ocean Springs is worth about $259,400, 53% above the Mississippi median of $169,800 and 22% below the national median of $332,700. Owners pay a median $2,046 a year in property taxes, about 0.79% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $79,712 a year, so the median home costs 3.3 times the median income (3.0 times for Mississippi). 69% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Ocean Springs at a glance
| Ocean Springs | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $259,400 | $169,800 | $332,700 |
| Median property tax paid per year | $2,046 | $1,215 | $3,119 |
| Property tax as a share of value | 0.79% | 0.72% | 0.94% |
| Median household income | $79,712 | $56,447 | $80,734 |
| Homes lived in by their owners | 69% | 70% | 65% |
| Owner homes with a mortgage | 65% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,810 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 19.8% | 21.0% |
| Median rent | $1,358 | $954 | $1,413 |
| Rent as a share of renters' income | 31.8% | 30.7% | 30.6% |
| Median year homes were built | 1979 | 1986 | 1980 |
| Vacant homes | 8.0% | 14.6% | 10.1% |
| Population | 18,646 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Ocean Springs
At this week's average 30-year rate of 7.11%, buying the median Ocean Springs home of $259,400 with 20% down costs about $1,675 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,107, 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 $71,780 for the 20%-down payment. That payment is 25% of the median Ocean Springs household income of $79,712; at that income and 20% down, the 28% guideline points to a home of about $288,000.
The median rent here is $1,358 a month, so owning the median home costs about $317 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $51,880 |
|---|---|
| Loan amount | $207,520 |
| Principal and interest | $1,396 |
| Property taxes (0.79% a year) | $171 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| PMI | $0 |
| Total per month | $1,675 |
Change the numbers in the calculator
| Down payment | $9,079 |
|---|---|
| Loan amount | $254,702 |
| Principal and interest | $1,713 |
| Property taxes (0.79% a year) | $171 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| FHA mortgage insurance | $115 |
| Total per month | $2,107 |
Change the numbers in the calculator
Questions about home buying in Ocean Springs
What is the median home value in Ocean Springs?
About $259,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ocean Springs?
Homeowners pay a median $2,046 a year, which is about 0.79% 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 Ocean Springs?
For the median home with 20% down at 7.11%, the payment is about $1,675 a month. Keeping that under 28% of gross income takes about $71,780 a year.
More about Ocean Springs
- Mortgage Refinance in Ocean Springs
- Debt Relief in Ocean Springs
- Home Equity Loans in Ocean Springs
- 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