Central Mississippi · 17 cities · Updated October 2026
Should you rent or buy?
Choose a city, adjust the numbers to fit your situation, and see which option leaves you with more money over time.
Buying, first month
Renting, first month
Buying pays off after
compared with renting and investing
Cash needed to close
Your net worth from housing, year by year
First-month cost of buying
What if the market surprises us?
We ran 1,000 versions of the future with home values and investments rising and falling at random around your assumptions.
Your local broker
Ready to look at the real numbers?
Dr. Zakk VarugheseBroker · HomesRX · Brandon, MS
I help buyers across Rankin, Madison, Hinds and the surrounding counties compare down payment assistance, seller-paid closing costs and loan options before they make an offer. Send me your scenario and I'll reply with numbers that fit your situation, not a sales pitch.
How this works
Buying adds up your mortgage payment, property tax, insurance, mortgage insurance (PMI) while you have less than 20% equity, HOA fees and upkeep. When you sell, you keep the home's value minus the remaining loan and selling costs. Renting assumes you invest the down payment and closing costs instead. Each month, whichever choice costs less invests the difference. Mortgage interest deductions aren't included, since most households now take the standard deduction. This is an educational estimate, not a loan offer or financial advice.
Where the local numbers come from
- Interest rate: Freddie Mac weekly survey, 30-year fixed average of 7.28% as of Oct 1, 2026. Your actual rate will depend on your credit and loan type.
- Home values: Zillow typical home values through Aug 31, 2026 for Brandon, Flowood, Pearl, Madison, Ridgeland, Clinton, Byram and Vicksburg; the latest Zillow typical values for Canton, Richland, Florence, Terry, Raymond, Magee and Crystal Springs (smaller towns update less often, so treat these as a starting point). For Jackson and Gluckstadt, we used the Redfin median sale price (Jackson, Gluckstadt).
- Rents, September and October 2026: Zumper for Brandon, Madison, Pearl, Jackson and Vicksburg (3-bedroom). Zillow for Ridgeland, Clinton, Byram, Canton, Raymond and Magee. Apartments.com for Flowood, Richland (3-bedroom) and Gluckstadt (house listings). Homes.com for Florence and Crystal Springs (3-bedroom houses). Rent.com house listings for Terry.
- Property tax: county effective rates from PropertyTaxByState (Hinds 0.88%, Madison 0.68%, Warren 0.80%, Copiah 0.72%, Simpson 0.61%) and PropertyTaxRates.org (Rankin 0.62%). Your actual bill depends on the city, millage and homestead exemption.
- Insurance: Mississippi estimates run from about $1,808 a year to $4,445 a year. The default here is 0.9% of the home's value, so get a real quote.
- Rent increase default: Jackson rents rose 3.7% over the past year. Home value growth default: the Jackson metro's typical home value rose 167.7% from 2003 to 2026, or about 4.4% a year. We use a more conservative 3%.