The typical owner-occupied home in Hillsboro is worth about $74,500, 56% below the Mississippi median of $169,800 and 78% below the national median of $332,700. The median household earns $44,662 a year, so the median home costs 1.7 times the median income (3.0 times for Mississippi). 88% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Hillsboro at a glance
| Hillsboro | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $74,500 | $169,800 | $332,700 |
| Median property tax paid per year | – | $1,215 | $3,119 |
| Median household income | $44,662 | $56,447 | $80,734 |
| Homes lived in by their owners | 88% | 70% | 65% |
| Owner homes with a mortgage | 31% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $936 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 23.8% | 19.8% | 21.0% |
| Median rent | – | $954 | $1,413 |
| Rent as a share of renters' income | 32.2% | 30.7% | 30.6% |
| Median year homes were built | 1982 | 1986 | 1980 |
| Vacant homes | 22.3% | 14.6% | 10.1% |
| Population | 999 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Hillsboro
At this week's average 30-year rate of 7.11%, buying the median Hillsboro home of $74,500 with 20% down costs about $500 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $624, 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 $21,440 for the 20%-down payment. That payment is 13% of the median Hillsboro household income of $44,662; at that income and 20% down, the 28% guideline points to a home of about $155,000.
| Down payment | $14,900 |
|---|---|
| Loan amount | $59,600 |
| Principal and interest | $401 |
| Property taxes (1.10% a year) | $68 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $500 |
Change the numbers in the calculator
| Down payment | $2,608 |
|---|---|
| Loan amount | $73,151 |
| Principal and interest | $492 |
| Property taxes (1.10% a year) | $68 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $624 |
Change the numbers in the calculator
Questions about home buying in Hillsboro
What is the median home value in Hillsboro?
About $74,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Hillsboro?
For the median home with 20% down at 7.11%, the payment is about $500 a month. Keeping that under 28% of gross income takes about $21,440 a year.
More about Hillsboro
- Mortgage Refinance in Hillsboro
- Debt Relief in Hillsboro
- Home Equity Loans in Hillsboro
- 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