The typical owner-occupied home in Baldwyn is worth about $98,600, 42% below the Mississippi median of $169,800 and 70% below the national median of $332,700. Owners pay a median $913 a year in property taxes, about 0.93% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $43,841 a year, so the median home costs 2.2 times the median income (3.0 times for Mississippi). 70% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Baldwyn at a glance
| Baldwyn | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $98,600 | $169,800 | $332,700 |
| Median property tax paid per year | $913 | $1,215 | $3,119 |
| Property tax as a share of value | 0.93% | 0.72% | 0.94% |
| Median household income | $43,841 | $56,447 | $80,734 |
| Homes lived in by their owners | 70% | 70% | 65% |
| Owner homes with a mortgage | 63% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,099 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 25.1% | 19.8% | 21.0% |
| Median rent | $635 | $954 | $1,413 |
| Rent as a share of renters' income | 27.5% | 30.7% | 30.6% |
| Median year homes were built | 1982 | 1986 | 1980 |
| Vacant homes | 19.5% | 14.6% | 10.1% |
| Population | 3,138 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Baldwyn
At this week's average 30-year rate of 7.11%, buying the median Baldwyn home of $98,600 with 20% down costs about $648 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $812, 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 $27,777 for the 20%-down payment. That payment is 18% of the median Baldwyn household income of $43,841; at that income and 20% down, the 28% guideline points to a home of about $156,000.
The median rent here is $635 a month, so owning the median home costs about $13 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $19,720 |
|---|---|
| Loan amount | $78,880 |
| Principal and interest | $531 |
| Property taxes (0.93% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $648 |
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| Down payment | $3,451 |
|---|---|
| Loan amount | $96,814 |
| Principal and interest | $651 |
| Property taxes (0.93% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $44 |
| Total per month | $812 |
Change the numbers in the calculator
Questions about home buying in Baldwyn
What is the median home value in Baldwyn?
About $98,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Baldwyn?
Homeowners pay a median $913 a year, which is about 0.93% 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 Baldwyn?
For the median home with 20% down at 7.11%, the payment is about $648 a month. Keeping that under 28% of gross income takes about $27,777 a year.
More about Baldwyn
- Mortgage Refinance in Baldwyn
- Debt Relief in Baldwyn
- Home Equity Loans in Baldwyn
- 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