The typical owner-occupied home in Lambert is worth about $62,300, 63% below the Mississippi median of $169,800 and 81% below the national median of $332,700. Owners pay a median $752 a year in property taxes, about 1.21% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $21,574 a year, so the median home costs 2.9 times the median income (3.0 times for Mississippi). 45% of occupied homes here are lived in by their owners, and 12% of those owners still have a mortgage.
Lambert at a glance
| Lambert | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $62,300 | $169,800 | $332,700 |
| Median property tax paid per year | $752 | $1,215 | $3,119 |
| Property tax as a share of value | 1.21% | 0.72% | 0.94% |
| Median household income | $21,574 | $56,447 | $80,734 |
| Homes lived in by their owners | 45% | 70% | 65% |
| Owner homes with a mortgage | 12% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $734 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 18.3% | 19.8% | 21.0% |
| Median rent | $725 | $954 | $1,413 |
| Rent as a share of renters' income | 26.3% | 30.7% | 30.6% |
| Median year homes were built | 1964 | 1986 | 1980 |
| Vacant homes | 18.7% | 14.6% | 10.1% |
| Population | 792 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Lambert
At this week's average 30-year rate of 7.11%, buying the median Lambert home of $62,300 with 20% down costs about $424 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $528, 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 $18,174 for the 20%-down payment. That payment is 24% of the median Lambert household income of $21,574; at that income and 20% down, the 28% guideline points to a home of about $74,000.
The median rent here is $725 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $12,460 |
|---|---|
| Loan amount | $49,840 |
| Principal and interest | $335 |
| Property taxes (1.21% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $26 |
| PMI | $0 |
| Total per month | $424 |
Change the numbers in the calculator
| Down payment | $2,180 |
|---|---|
| Loan amount | $61,172 |
| Principal and interest | $412 |
| Property taxes (1.21% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $26 |
| FHA mortgage insurance | $28 |
| Total per month | $528 |
Change the numbers in the calculator
Questions about home buying in Lambert
What is the median home value in Lambert?
About $62,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lambert?
Homeowners pay a median $752 a year, which is about 1.21% 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 Lambert?
For the median home with 20% down at 7.11%, the payment is about $424 a month. Keeping that under 28% of gross income takes about $18,174 a year.
More about Lambert
- Mortgage Refinance in Lambert
- Debt Relief in Lambert
- Home Equity Loans in Lambert
- 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