The typical owner-occupied home in Toccopola is worth about $97,600, 43% below the Mississippi median of $169,800 and 71% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.20% of their home's value, lower than the Mississippi rate of 0.72%. The median household earns $39,083 a year, so the median home costs 2.5 times the median income (3.0 times for Mississippi). 94% of occupied homes here are lived in by their owners, and 54% of those owners still have a mortgage.
Toccopola at a glance
| Toccopola | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $97,600 | $169,800 | $332,700 |
| Median property tax paid per year | $199 | $1,215 | $3,119 |
| Property tax as a share of value | 0.20% | 0.72% | 0.94% |
| Median household income | $39,083 | $56,447 | $80,734 |
| Homes lived in by their owners | 94% | 70% | 65% |
| Owner homes with a mortgage | 54% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,125 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 23.8% | 19.8% | 21.0% |
| Median rent | $975 | $954 | $1,413 |
| Rent as a share of renters' income | 22.5% | 30.7% | 30.6% |
| Median year homes were built | 1975 | 1986 | 1980 |
| Vacant homes | 13.6% | 14.6% | 10.1% |
| Population | 280 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Toccopola
At this week's average 30-year rate of 7.11%, buying the median Toccopola home of $97,600 with 20% down costs about $582 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $745, 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 $24,951 for the 20%-down payment. That payment is 18% of the median Toccopola household income of $39,083; at that income and 20% down, the 28% guideline points to a home of about $153,000.
The median rent here is $975 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,520 |
|---|---|
| Loan amount | $78,080 |
| Principal and interest | $525 |
| Property taxes (0.20% a year) | $16 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $582 |
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| Down payment | $3,416 |
|---|---|
| Loan amount | $95,832 |
| Principal and interest | $645 |
| Property taxes (0.20% a year) | $16 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $745 |
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Questions about home buying in Toccopola
What is the median home value in Toccopola?
About $97,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Toccopola?
Homeowners pay a median $199 a year, which is about 0.20% 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 Toccopola?
For the median home with 20% down at 7.11%, the payment is about $582 a month. Keeping that under 28% of gross income takes about $24,951 a year.
More about Toccopola
- Mortgage Refinance in Toccopola
- Debt Relief in Toccopola
- Home Equity Loans in Toccopola
- 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