The typical owner-occupied home in Flowood is worth about $342,200, 2.0 times the Mississippi median of $169,800 and 3% above the national median of $332,700. Owners pay a median $2,341 a year in property taxes, about 0.68% of their home's value, close to the Mississippi rate of 0.72%. The median household earns $83,880 a year, so the median home costs 4.1 times the median income (3.0 times for Mississippi). 54% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Flowood at a glance
| Flowood | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $342,200 | $169,800 | $332,700 |
| Median property tax paid per year | $2,341 | $1,215 | $3,119 |
| Property tax as a share of value | 0.68% | 0.72% | 0.94% |
| Median household income | $83,880 | $56,447 | $80,734 |
| Homes lived in by their owners | 54% | 70% | 65% |
| Owner homes with a mortgage | 69% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,966 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 21.4% | 19.8% | 21.0% |
| Median rent | $1,430 | $954 | $1,413 |
| Rent as a share of renters' income | 31.8% | 30.7% | 30.6% |
| Median year homes were built | 2001 | 1986 | 1980 |
| Vacant homes | 5.0% | 14.6% | 10.1% |
| Population | 10,587 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Flowood
At this week's average 30-year rate of 7.11%, buying the median Flowood home of $342,200 with 20% down costs about $2,178 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,748, 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 $93,347 for the 20%-down payment. That payment is 31% of the median Flowood household income of $83,880; at that income and 20% down, the 28% guideline points to a home of about $307,000.
The median rent here is $1,430 a month, so owning the median home costs about $748 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $68,440 |
|---|---|
| Loan amount | $273,760 |
| Principal and interest | $1,842 |
| Property taxes (0.68% a year) | $194 |
| Homeowners insurance (our estimate, 0.5% a year) | $143 |
| PMI | $0 |
| Total per month | $2,178 |
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| Down payment | $11,977 |
|---|---|
| Loan amount | $336,002 |
| Principal and interest | $2,260 |
| Property taxes (0.68% a year) | $194 |
| Homeowners insurance (our estimate, 0.5% a year) | $143 |
| FHA mortgage insurance | $151 |
| Total per month | $2,748 |
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Questions about home buying in Flowood
What is the median home value in Flowood?
About $342,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Flowood?
Homeowners pay a median $2,341 a year, which is about 0.68% 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 Flowood?
For the median home with 20% down at 7.11%, the payment is about $2,178 a month. Keeping that under 28% of gross income takes about $93,347 a year.
More about Flowood
- Mortgage Refinance in Flowood
- Debt Relief in Flowood
- Home Equity Loans in Flowood
- 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