Rent vs buy in Jackson, MS
In Jackson, Mississippi, typical rent is $1,228 /mo and typical home price is $83,517.
Over 7 years, buying comes out ahead by $57k
Using Jackson's typical rent and home value, the calculation applies a 20% down payment and today's mortgage rate. The break-even point is reached in year 2.
An opinion is clearly labeled, and the math is shown. These are estimates, not quotes. The stamp updates whenever any figure changes.
- How far owning is ahead
- $57k after 7 years
- Break-even point
- year 2 when owning catches up
- Owning's true cost
- $844 /mo year 1, against $1,228 rent
Change my numbers
The stamp draws on Jackson's typical rent figure and home value. The result can flip based on your rent, price and years.
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Enter your chosen rent, price and down payment. The stamp updates based on those figures.
Is it cheaper to rent or buy in Jackson?
After counting the money returned when you sell, buying costs $56,582 less over 7 years. Owning's net cost falls below renting's in year 2 and remains lower.
Rent. Own. Net cost to date, shown by year.
Jackson: average rent compared with mortgage payment
Rent and mortgage payments don't tell the whole story. At Jackson's typical price, here are all monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,228 | All of it, every month |
| Mortgage payment | $455 | $401 of it is interest in year 1 |
| Property tax | $84 | 1.21% of the value a year |
| Insurance | $118 | Census median for the city |
| Upkeep | $70 | 1% of the value a year |
| Owning, cash out | $727 | $54 of it builds equity |
| Lost return on the down payment | $136 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $35 | 3.5% of the price over 7 years |
| True cost of owning | $844 | Cash out minus the equity amount, plus the two items listed above. |
The Jackson result in numbers
- Typical home valueZillow ZHVI, September 2026
- $83,517
- Typical rentZillow ZORI, September 2026
- $1,228 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Mississippi, 1995 to 2025
- 3.5% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Jackson
- 1.21% of value
- Home insuranceCensus ACS 2020-2024, Jackson
- $118 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What change would flip the result in Jackson?
Each line marks where Jackson's 7-year result changes, while all other factors stay as they are.
Renting is better when
- A home like this has rent below $620 a month (typical here: $1,228).
- Before year 2, you move.
When buying comes out ahead
- If you rent that same home, you'd pay more than $620 each month.
- Your stay lasts 2 years or longer.
Jackson compared with the other 812 cities
| Measure | Jackson | Median city |
|---|---|---|
| Typical home value | $83,517 | $422,451 |
| Typical rent | $1,228 /mo | $1,837 /mo |
| Price-to-rent ratio | 5.7 (#810 of 813) | 18.5 |
| Home prices, last 10 years | 1.8% a year | 6.2% a year |
| Rents, last 5 years | 5.9% a year | 4% a year |
| Property tax | 1.21% | 0.87% |
| Households that rent | 51% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Mississippi cities
- Buy. Gulfport, MS: Buy. Buying wins by $12k.
- Rent. Southaven, MS: Rent. Renting wins by $9k.