The typical owner-occupied home in Falcon is worth about $69,100, 59% below the Mississippi median of $169,800 and 79% below the national median of $332,700. Owners pay a median $742 a year in property taxes, about 1.07% of their home's value, higher than the Mississippi rate of 0.72%. 79% of occupied homes here are lived in by their owners, and 0% of those owners still have a mortgage.
Falcon at a glance
| Falcon | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $69,100 | $169,800 | $332,700 |
| Median property tax paid per year | $742 | $1,215 | $3,119 |
| Property tax as a share of value | 1.07% | 0.72% | 0.94% |
| Median household income | – | $56,447 | $80,734 |
| Homes lived in by their owners | 79% | 70% | 65% |
| Owner homes with a mortgage | 0% | 49% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,394 | $1,963 |
| Median rent | $675 | $954 | $1,413 |
| Rent as a share of renters' income | 42.5% | 30.7% | 30.6% |
| Median year homes were built | 1997 | 1986 | 1980 |
| Vacant homes | 0.0% | 14.6% | 10.1% |
| Population | 144 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Falcon
At this week's average 30-year rate of 7.11%, buying the median Falcon home of $69,100 with 20% down costs about $462 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $577, 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 $19,812 for the 20%-down payment.
The median rent here is $675 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,820 |
|---|---|
| Loan amount | $55,280 |
| Principal and interest | $372 |
| Property taxes (1.07% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| PMI | $0 |
| Total per month | $462 |
Change the numbers in the calculator
| Down payment | $2,418 |
|---|---|
| Loan amount | $67,848 |
| Principal and interest | $456 |
| Property taxes (1.07% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| FHA mortgage insurance | $31 |
| Total per month | $577 |
Change the numbers in the calculator
Questions about home buying in Falcon
What is the median home value in Falcon?
About $69,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Falcon?
Homeowners pay a median $742 a year, which is about 1.07% 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 Falcon?
For the median home with 20% down at 7.11%, the payment is about $462 a month. Keeping that under 28% of gross income takes about $19,812 a year.
More about Falcon
- Mortgage Refinance in Falcon
- Debt Relief in Falcon
- Home Equity Loans in Falcon
- 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