Market Overview
Home Prices in Algoma, MS
The median home value in Algoma, MS is $247,371 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.4% compared to a year ago and up 6.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Algoma are priced40% below average. Algoma is part of the Tupelo, MS metro area.
Over the past five years, Algoma home values have risen by approximately19.8%, reflecting steady appreciation in this market.
Price History
Algoma Home Price Trend
2021
$206,424
$206K
—
2022
$230,801
$231K
+11.8%
2023
$208,665
$209K
-9.6%
2024
$217,485
$217K
+4.2%
2025
$232,485
$232K
+6.9%
2026
$247,371
$247K
+6.4%
City Comparison
Algoma vs. National Median
🏠 Algoma
$247,371
National Median
$410,000
At $247,371, homes in Algoma cost 40% below the national median of $410,000. This makes Algoma a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Algoma?
20% Down Payment
$49,474
on $247,371
Monthly P&I
$1,290/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,638/mo
incl. taxes & insurance
Income Needed
$65,520
gross annual (30% rule)
10% Down Option
$24,737
+ PMI applies
Loan Amount (20% dn)
$197,897
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Algoma, MS?
The median home value in Algoma is $247,371 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.4% year-over-year.
How much have home prices changed in Algoma?
Over the past year, home values in Algoma have increased by 6.4%. Over five years, prices have risen approximately 19.8%.
How much do I need to earn to buy a home in Algoma?
To comfortably afford the median home price of $247,371 with a 20% down payment ($49,474) at today's rates (6.8%), you'd need a gross annual income of approximately $65,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Algoma compare to the national average home price?
The national median home value is approximately $410,000. At $247,371, homes in Algoma are 40% below the national average.
What metro area is Algoma part of?
Algoma is part of the Tupelo, MS metropolitan area. Home prices and market conditions can vary across the broader metro region.