The typical owner-occupied home in Kilmichael is worth about $92,300, 46% below the Mississippi median of $169,800 and 72% below the national median of $332,700. Owners pay a median $922 a year in property taxes, about 1.00% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $42,432 a year, so the median home costs 2.2 times the median income (3.0 times for Mississippi). 80% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Kilmichael at a glance
| Kilmichael | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $92,300 | $169,800 | $332,700 |
| Median property tax paid per year | $922 | $1,215 | $3,119 |
| Property tax as a share of value | 1.00% | 0.72% | 0.94% |
| Median household income | $42,432 | $56,447 | $80,734 |
| Homes lived in by their owners | 80% | 70% | 65% |
| Owner homes with a mortgage | 38% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $776 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 19.8% | 21.0% |
| Median rent | $875 | $954 | $1,413 |
| Rent as a share of renters' income | 9.0% | 30.7% | 30.6% |
| Median year homes were built | 1972 | 1986 | 1980 |
| Vacant homes | 31.7% | 14.6% | 10.1% |
| Population | 467 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Kilmichael
At this week's average 30-year rate of 7.11%, buying the median Kilmichael home of $92,300 with 20% down costs about $612 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $766, 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 $26,233 for the 20%-down payment. That payment is 17% of the median Kilmichael household income of $42,432; at that income and 20% down, the 28% guideline points to a home of about $149,000.
The median rent here is $875 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,460 |
|---|---|
| Loan amount | $73,840 |
| Principal and interest | $497 |
| Property taxes (1.00% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $612 |
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| Down payment | $3,230 |
|---|---|
| Loan amount | $90,628 |
| Principal and interest | $610 |
| Property taxes (1.00% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $41 |
| Total per month | $766 |
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Questions about home buying in Kilmichael
What is the median home value in Kilmichael?
About $92,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Kilmichael?
Homeowners pay a median $922 a year, which is about 1.00% 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 Kilmichael?
For the median home with 20% down at 7.11%, the payment is about $612 a month. Keeping that under 28% of gross income takes about $26,233 a year.
More about Kilmichael
- Mortgage Refinance in Kilmichael
- Debt Relief in Kilmichael
- Home Equity Loans in Kilmichael
- 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