The typical owner-occupied home in Lafayette County is worth about $315,400, 86% above the Mississippi median of $169,800 and 5% below the national median of $332,700. Owners pay a median $1,719 a year in property taxes, about 0.55% of their home's value, lower than the Mississippi rate of 0.72%. The median household earns $67,185 a year, so the median home costs 4.7 times the median income (3.0 times for Mississippi). 64% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Lafayette County at a glance
| Lafayette County | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $315,400 | $169,800 | $332,700 |
| Median property tax paid per year | $1,719 | $1,215 | $3,119 |
| Property tax as a share of value | 0.55% | 0.72% | 0.94% |
| Median household income | $67,185 | $56,447 | $80,734 |
| Homes lived in by their owners | 64% | 70% | 65% |
| Owner homes with a mortgage | 54% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,779 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 19.8% | 21.0% |
| Median rent | $1,085 | $954 | $1,413 |
| Rent as a share of renters' income | 32.3% | 30.7% | 30.6% |
| Median year homes were built | 2000 | 1986 | 1980 |
| Vacant homes | 33.7% | 14.6% | 10.1% |
| Population | 58,327 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Lafayette County
At this week's average 30-year rate of 7.11%, buying the median Lafayette County home of $315,400 with 20% down costs about $1,973 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,499, 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 $84,572 for the 20%-down payment. That payment is 35% of the median Lafayette County household income of $67,185; at that income and 20% down, the 28% guideline points to a home of about $251,000.
The median rent here is $1,085 a month, so owning the median home costs about $888 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $63,080 |
|---|---|
| Loan amount | $252,320 |
| Principal and interest | $1,697 |
| Property taxes (0.55% a year) | $145 |
| Homeowners insurance (our estimate, 0.5% a year) | $131 |
| PMI | $0 |
| Total per month | $1,973 |
Change the numbers in the calculator
| Down payment | $11,039 |
|---|---|
| Loan amount | $309,687 |
| Principal and interest | $2,083 |
| Property taxes (0.55% a year) | $145 |
| Homeowners insurance (our estimate, 0.5% a year) | $131 |
| FHA mortgage insurance | $140 |
| Total per month | $2,499 |
Change the numbers in the calculator
Questions about home buying in Lafayette County
What is the median home value in Lafayette County?
About $315,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lafayette County?
Homeowners pay a median $1,719 a year, which is about 0.55% 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 Lafayette County?
For the median home with 20% down at 7.11%, the payment is about $1,973 a month. Keeping that under 28% of gross income takes about $84,572 a year.
More about Lafayette County
- Mortgage Refinance in Lafayette County
- Debt Relief in Lafayette County
- Home Equity Loans in Lafayette County
- 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