The typical owner-occupied home in Taylor is worth about $283,900, 67% above the Mississippi median of $169,800 and 15% below the national median of $332,700. The median household earns $80,208 a year, so the median home costs 3.5 times the median income (3.0 times for Mississippi). 79% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Taylor at a glance
| Taylor | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $283,900 | $169,800 | $332,700 |
| Median property tax paid per year | – | $1,215 | $3,119 |
| Median household income | $80,208 | $56,447 | $80,734 |
| Homes lived in by their owners | 79% | 70% | 65% |
| Owner homes with a mortgage | 38% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $2,167 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 29.3% | 19.8% | 21.0% |
| Median rent | $1,021 | $954 | $1,413 |
| Rent as a share of renters' income | 11.3% | 30.7% | 30.6% |
| Median year homes were built | 1992 | 1986 | 1980 |
| Vacant homes | 39.5% | 14.6% | 10.1% |
| Population | 245 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Taylor
At this week's average 30-year rate of 7.11%, buying the median Taylor home of $283,900 with 20% down costs about $1,906 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,379, 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 $81,702 for the 20%-down payment. That payment is 29% of the median Taylor household income of $80,208; at that income and 20% down, the 28% guideline points to a home of about $279,000.
The median rent here is $1,021 a month, so owning the median home costs about $885 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $56,780 |
|---|---|
| Loan amount | $227,120 |
| Principal and interest | $1,528 |
| Property taxes (1.10% a year) | $260 |
| Homeowners insurance (our estimate, 0.5% a year) | $118 |
| PMI | $0 |
| Total per month | $1,906 |
Change the numbers in the calculator
| Down payment | $9,936 |
|---|---|
| Loan amount | $278,758 |
| Principal and interest | $1,875 |
| Property taxes (1.10% a year) | $260 |
| Homeowners insurance (our estimate, 0.5% a year) | $118 |
| FHA mortgage insurance | $126 |
| Total per month | $2,379 |
Change the numbers in the calculator
Questions about home buying in Taylor
What is the median home value in Taylor?
About $283,900 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 Taylor?
For the median home with 20% down at 7.11%, the payment is about $1,906 a month. Keeping that under 28% of gross income takes about $81,702 a year.
More about Taylor
- Mortgage Refinance in Taylor
- Debt Relief in Taylor
- Home Equity Loans in Taylor
- 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