The typical owner-occupied home in Coldwater is worth about $91,300, 46% below the Mississippi median of $169,800 and 73% below the national median of $332,700. Owners pay a median $1,236 a year in property taxes, about 1.35% of their home's value, higher than the Mississippi rate of 0.72%. The median household earns $44,054 a year, so the median home costs 2.1 times the median income (3.0 times for Mississippi). 61% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Coldwater at a glance
| Coldwater | Mississippi | U.S. | |
|---|---|---|---|
| Median home value | $91,300 | $169,800 | $332,700 |
| Median property tax paid per year | $1,236 | $1,215 | $3,119 |
| Property tax as a share of value | 1.35% | 0.72% | 0.94% |
| Median household income | $44,054 | $56,447 | $80,734 |
| Homes lived in by their owners | 61% | 70% | 65% |
| Owner homes with a mortgage | 55% | 49% | 61% |
| Median monthly costs, owners with a mortgage | $1,092 | $1,394 | $1,963 |
| Those costs as a share of the owners' income | 22.6% | 19.8% | 21.0% |
| Median rent | – | $954 | $1,413 |
| Rent as a share of renters' income | 51.0% | 30.7% | 30.6% |
| Median year homes were built | 1979 | 1986 | 1980 |
| Vacant homes | 18.8% | 14.6% | 10.1% |
| Population | 1,156 | 2,946,779 | 334,922,499 |
What a typical home costs per month in Coldwater
At this week's average 30-year rate of 7.11%, buying the median Coldwater home of $91,300 with 20% down costs about $632 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $784, 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 $27,090 for the 20%-down payment. That payment is 17% of the median Coldwater household income of $44,054; at that income and 20% down, the 28% guideline points to a home of about $148,000.
| Down payment | $18,260 |
|---|---|
| Loan amount | $73,040 |
| Principal and interest | $491 |
| Property taxes (1.35% a year) | $103 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $632 |
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| Down payment | $3,196 |
|---|---|
| Loan amount | $89,646 |
| Principal and interest | $603 |
| Property taxes (1.35% a year) | $103 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $40 |
| Total per month | $784 |
Change the numbers in the calculator
Questions about home buying in Coldwater
What is the median home value in Coldwater?
About $91,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Coldwater?
Homeowners pay a median $1,236 a year, which is about 1.35% 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 Coldwater?
For the median home with 20% down at 7.11%, the payment is about $632 a month. Keeping that under 28% of gross income takes about $27,090 a year.
More about Coldwater
- Mortgage Refinance in Coldwater
- Debt Relief in Coldwater
- Home Equity Loans in Coldwater
- 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