The average price of a 2 bedroom, 2 bath home in Oxford is $140,000; this is well below the national average (new construction costs approximately $95 per square foot).  Smaller homes, often desired by seniors, are less expensive and can be found for under $100,000.  A nice variety of housing types exists, from rambling antebellum homes to new condominiums, and because the area is growing, new developments are popping up in and around town.  

Miller's Landing is a condominium complex offering 2 bedroom, 2 bath bungalow-style condos for $99,000.   Sage Meadow is another condo development and has 2 bedroom, 2 bath rowhouse-style units for $110,000.    The Quarter Condominiums have units beginning at $97,000, and High Point Condominiums have units priced at $114,000 and up. We also found condos, located more toward the University and the historic downtown, ranging from $350,000 to $700,000.  

In general, real estate is more expensive near the downtown Square than in other areas of Oxford, and single-family homes for sale here can be hard to find as this is the most sought-after part of town.   Real estate in other areas, though, is plentiful and quite nice.  We found a 2 bedroom, 2 bath cottage (1,160 square feet) on 6.5 acres just outside of town for $60,000.  For twice that amount, roughly $134,000, we discovered a darling 3 bedroom, 2 bath home with 1,300 square feet in an established neighborhood.   We also found some lovely single-family homes, not in developments but in subdivisions with a mix of ages, starting at around $179,000 and including 2 bedrooms, 2 baths, a yard, a hot tub, covered porches, 9 foot ceilings, a formal dining room and recessed lighting, all spread across 1,600 square feet.   $360,000 will fetch a stunning 4 bedroom, 3 bath home with 3,400 square feet, 1.3 acres, a pool, cathedral ceilings and huge walk-in closets.  

Wellsgate, a subdivision across from John Grisham's part-time home on the west side of town, has single-family homes from $175,000 to $500,000.  Grand Oaks is an upscale golf community that offers homes from the $225,000s to $420,000s.  Edgewood features homes starting in the low $130,00s.    Steeple Chase has gorgeous $750,000+ villas on large lots of land.  There are several other new developments as well, mostly on the outskirts of town.

Oxford also has three manufactured home parks (Ewing Park Community at 662-236-2883; Mobile City Mobile Park at 662-234-5322; Oxford Wheels Estates at 662-234-9602) and a good number of apartment complexes with rents starting at around $400 per month for a one bedroom, one bath unit and at $750 per month for a three bedroom unit, but we found most of these to be rented by college students. 

The average cost-of-living in Mississippi is 10% lower than the national average, and the per capita tax burden is the lowest of any state.  Property is assessed at 10% of market value and is taxed at $69 per $1,000 of assessed value. Social Security benefits, private pensions and IRAs are exempt from taxation.

Oxford, Mississippi Continued...