MS · #35 by population

Buying a home in Mississippi

In Mississippi, the median owner-occupied home is valued at $192,700 (Census ACS 2025); there is no state transfer tax, and owners pay a median $1,215 a year in property tax (0.72% effective rate).

In short

Mississippi has no real estate transfer tax, requires an attorney for part of the closing and requires a seller disclosure form. It allows both court and out-of-court foreclosure and is not a community property state. Deadline to appeal a property tax assessment: normally by the first Monday in August before the taxes are due (confirm with your chancery clerk).

Key figures for Mississippi

  • Median home value: $192,700, owner-occupied homes, Census ACS 2025; $111,500 in the city of Jackson. Compare
  • Price trend: The FHFA House Price Index shows Mississippi prices up 0.5% between the second quarters of 2025 and 2026. The Jackson metro area rose 1.8% on a different FHFA series.
  • State transfer tax: none. Compare
  • Median property tax paid: $1,215 a year, 0.72% of the median value (U.S.: 0.94%), Census ACS 2020-2024. By county
  • Cities covered by Payotte: 1 in Mississippi.

Calculate for Mississippi

If you buy

Mississippi state transfer tax

Mississippi has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$192,700
State transfer tax$0
Share of the price—

Default price: the Mississippi median value of owner-occupied homes, $192,700 (Census ACS 2025). Rule: No tax is calculated on the price. The recording fee depends on page count. Who pays: Nobody pays a transfer tax. The sources do not assign the recording fees to buyer or seller; the purchase contract does. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Mississippi transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Mississippi state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Cities in Mississippi

  • Jackson main city of Mississippi on Payotte, 95th largest U.S. metro area

Sectors of Jackson

How Jackson is divided: 9 ZIP codes of at least 1,000 residents (of 13 ZIP code areas mostly inside the city).

Buying in Mississippi: frequently asked questions

What is the median home value in Mississippi?

The median value of owner-occupied homes in Mississippi is $192,700 (Census ACS 2025), and $111,500 in the city of Jackson. These are owner estimates, not sale prices. The FHFA House Price Index shows Mississippi prices up 0.5% between the second quarters of 2025 and 2026. The Jackson metro area rose 1.8% on a different FHFA series.

Median home value in all 50 states

Is there a real estate transfer tax in Mississippi?

No Mississippi transfer tax was found in the official sources read. The Department of Revenue's list of state taxes shows no deed tax, and recording a deed costs $25 for the first five pages and $1 for each extra page under Miss. Code 25-7-9.

Full Mississippi guide · Compare all 50 states

What closing costs does Mississippi law set?

Mississippi has no official typical closing-cost total. The Department of Revenue lists no tax on deed transfers, and recording a deed costs $25 for the first five pages and $1 for each extra page.

Full Mississippi guide · Compare all 50 states

How is property tax calculated in Mississippi?

Mississippi taxes an owner-occupied home at 10% of true value and applies local mills. The regular homestead exemption is a credit of up to $300, and owners 65 or older or totally disabled are exempt on the first $7,500 of assessed value.

Full Mississippi guide · Compare all 50 states

How much property tax do homeowners pay in Mississippi?

Owner-occupants in Mississippi pay a median $1,215 a year in property tax on a median home value of $169,800, an effective rate of 0.72% (U.S.: $3,119, 0.94%), per Census ACS 2020-2024 estimates.

Property tax by county in Mississippi

What is the deadline to appeal a property tax assessment in Mississippi?

In Mississippi, request a hearing with your county Board of Supervisors, normally by the first Monday in August before the taxes are due, and contact your county Chancery Clerk to confirm the procedure.

Full Mississippi guide · Compare all 50 states

Do you need a real estate attorney to close in Mississippi?

No Mississippi statute or Bar material read says a buyer or seller must hire an attorney to close, but anyone who writes a deed, deed of trust or mortgage for a fee is practicing law (Miss. Code 73-3-55), so those documents must come from a Mississippi-licensed lawyer.

Full Mississippi guide · Compare all 50 states

What must a home seller disclose in Mississippi?

A Mississippi seller of a home with one to four dwelling units must give the buyer a Property Condition Disclosure Statement when a licensed broker or salesperson is involved (Miss. Code 89-1-501 to 89-1-523).

Full Mississippi guide · Compare all 50 states

How does foreclosure work in Mississippi?

Mississippi courts describe two routes, a court case and a non-judicial sale under a deed of trust.

Full Mississippi guide · Compare all 50 states

What first-time home buyer programs does Mississippi offer?

In Mississippi, the Mississippi Home Corporation (MHC) offers down payment help of $7,000 (Smart7), $8,000 (Easy8) or $10,000 (Trusty10) as a second mortgage, and up to $25,000 through Home4All.

Full Mississippi guide · Compare all 50 states

Which natural hazards affect home insurance in Mississippi?

Standard Mississippi home insurance does not cover flood. The NFIP covers up to $250,000 for a home and $100,000 for belongings, and FEMA lists 18 major disaster declarations for Hinds County, where Jackson sits, since 1969.

Full Mississippi guide

How much tax when you sell a home in Mississippi?

The federal rule is the same in Mississippi as in every state: if you owned and lived in the home as your main home for at least 2 of the last 5 years, the first $250,000 of gain is excluded, $500,000 for a married couple filing jointly (Section 121, IRS Publication 523). Bought $400,000, sold $750,000: a single owner has $100,000 of taxable gain, $15,000 of federal tax at the 15% long-term rate; a couple filing jointly owes nothing. Mississippi income tax on the gain is not computed here.

Capital gains on a home sale

Mississippi guides

Professionals in Mississippi

Sources

Data as of . Figures are computed from these sources.

All states · Federal guides