Rent vs buy in Southaven, MS

In Southaven, Mississippi, the typical rent is $1,575 /mo and the typical home price is $273,449.

Rent

Renting saves you $9k over 7 years

The calculation takes Southaven's typical figures for rent and home value, plus 20% down and today's mortgage rate. The break-even point is year 9.

Clearly marked opinion, with the math shown. These figures are estimates, not quotes. If you change a number, the stamp changes.

Renting leads by: $9k
Break-even point: year 9
Full cost of ownership: $2,366 /mo

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The stamp uses Southaven's figures for typical rent and home value. Your rent, home price and time period can change the result.

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Is renting or buying cheaper in Southaven?

Renting costs $8,555 less over 7 years, including the money you get back when you sell. For the first 8 years, renting costs less. In year 9, owning catches up.

Renting. Owning. Net cost by year so far.

Average rent compared with the mortgage payment in Southaven

For year 1, these figures cover every monthly expense at Southaven's typical home price. Rent and the mortgage don't tell the full story.

Each month, year 1	Amount	What it is
Rent	$1,575	All of it, every month
Mortgage payment	$1,491	$1,314 of it is interest in year 1
Property tax	$146	0.64% of the value a year
Insurance	$120	Census median for the city
Upkeep	$228	1% of the value a year
Owning, cash out	$1,985	$177 of it builds equity
Lost return on the down payment	$444	Annual earnings on the cash at 8.3%
Buying costs, spread out	$114	3.5% of the price over 7 years
True cost of owning	$2,366	Add cash out to the two lines above, then subtract the equity part.

Numbers behind Southaven's result

Typical home valueZillow ZHVI, September 2026: $273,449
Typical rentZillow ZORI, September 2026: $1,575 /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, Southaven: 0.64% of value
Home insuranceCensus ACS 2020-2024, Southaven: $120 /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 would cause the Southaven result to flip?

The 7-year verdict in Southaven changes at the point shown by each line, with all other factors kept as they are.

Renting is cheaper when

Annual home price growth stays under 3.9%. We use 3.5%, based on Mississippi's long-run rate.
The mortgage interest rate remains above 6.69%.
A similar home rents for under $1,670 a month, compared with the typical $1,575 here.
You make your move before year 9.

Buying is cheaper when

Home prices rise by more than 3.9% each year.
Today's rate is 7.24%, and you secure one below 6.69%.
The same home would cost over $1,670 monthly to rent.
You remain for 9 years or more.

Southaven compared with the other 812 cities

Measure	Southaven	Median city
Typical home value	$273,449	$422,451
Typical rent	$1,575 /mo	$1,837 /mo
Price-to-rent ratio	14.5 (#656 of 813)	18.5
Home prices, last 10 years	6.1% a year	6.2% a year
Rents, last 5 years	2.8% a year	4% a year
Property tax	0.64%	0.87%
Households that rent	28%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

Mississippi's other cities

For Gulfport, MS, the recommendation is Buy, and the advantage totals $12k.

Mississippi rent vs buy: the state's figures