The typical owner-occupied home in Ovett is worth about $194,000, 14% above the Mississippi median of $169,800 and 42% below the national median of $332,700. The median household earns $121,336 a year, so the median home costs 1.6 times the median income (3.0 times for Mississippi). 91% of occupied homes here are lived in by their owners, and 28% of those owners still have a mortgage.
Ovett at a glance
| Ovett | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $194,000 | $169,800 | $332,700 |
| Median property tax paid per year | – | $1,215 | $3,119 |
| Median household income | $121,336 | $56,447 | $80,734 |
| Homes lived in by their owners | 91% | 70% | 65% |
| Owner homes with a mortgage | 28% | 49% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,394 | $1,963 |
| Median rent | – | $954 | $1,413 |
| Median year homes were built | 1991 | 1986 | 1980 |
| Vacant homes | 0.0% | 14.6% | 10.1% |
| Population | 333 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Ovett
At this week's average 30-year rate of 7.11%, buying the median Ovett home of $194,000 with 20% down costs about $1,303 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,626, 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 $55,830 for the 20%-down payment. That payment is 13% of the median Ovett household income of $121,336; at that income and 20% down, the 28% guideline points to a home of about $422,000.
| Down payment | $38,800 |
|---|---|
| Loan amount | $155,200 |
| Principal and interest | $1,044 |
| Property taxes (1.10% a year) | $178 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| PMI | $0 |
| Total per month | $1,303 |
Change the numbers in the calculator
| Down payment | $6,790 |
|---|---|
| Loan amount | $190,486 |
| Principal and interest | $1,281 |
| Property taxes (1.10% a year) | $178 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| FHA mortgage insurance | $86 |
| Total per month | $1,626 |
Change the numbers in the calculator
Questions about home buying in Ovett
What is the median home value in Ovett?
About $194,000 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 Ovett?
For the median home with 20% down at 7.11%, the payment is about $1,303 a month. Keeping that under 28% of gross income takes about $55,830 a year.
More about Ovett
- Mortgage Refinance in Ovett
- Debt Relief in Ovett
- Home Equity Loans in Ovett
- 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