The typical owner-occupied home in Walnut Grove is worth about $85,900, 49% below the Mississippi median of $169,800 and 74% below the national median of $332,700. Owners pay a median $480 a year in property taxes, about 0.56% of their home's value, lower than the Mississippi rate of 0.72%. The median household earns $42,634 a year, so the median home costs 2.0 times the median income (3.0 times for Mississippi). 24% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Walnut Grove at a glance
| Walnut Grove | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $85,900 | $169,800 | $332,700 |
| Median property tax paid per year | $480 | $1,215 | $3,119 |
| Property tax as a share of value | 0.56% | 0.72% | 0.94% |
| Median household income | $42,634 | $56,447 | $80,734 |
| Homes lived in by their owners | 24% | 70% | 65% |
| Owner homes with a mortgage | 25% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,250 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 51.0% | 19.8% | 21.0% |
| Median rent | $535 | $954 | $1,413 |
| Rent as a share of renters' income | 29.5% | 30.7% | 30.6% |
| Median year homes were built | 1975 | 1986 | 1980 |
| Vacant homes | 21.0% | 14.6% | 10.1% |
| Population | 737 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Walnut Grove
At this week's average 30-year rate of 7.11%, buying the median Walnut Grove home of $85,900 with 20% down costs about $538 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $681, 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 $23,064 for the 20%-down payment. That payment is 15% of the median Walnut Grove household income of $42,634; at that income and 20% down, the 28% guideline points to a home of about $159,000.
The median rent here is $535 a month, so owning the median home costs about $3 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $17,180 |
|---|---|
| Loan amount | $68,720 |
| Principal and interest | $462 |
| Property taxes (0.56% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $538 |
Change the numbers in the calculator
| Down payment | $3,006 |
|---|---|
| Loan amount | $84,344 |
| Principal and interest | $567 |
| Property taxes (0.56% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $38 |
| Total per month | $681 |
Change the numbers in the calculator
Questions about home buying in Walnut Grove
What is the median home value in Walnut Grove?
About $85,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Walnut Grove?
Homeowners pay a median $480 a year, which is about 0.56% 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 Walnut Grove?
For the median home with 20% down at 7.11%, the payment is about $538 a month. Keeping that under 28% of gross income takes about $23,064 a year.
More about Walnut Grove
- Mortgage Refinance in Walnut Grove
- Debt Relief in Walnut Grove
- Home Equity Loans in Walnut Grove
- 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