Tanglewood · Photo: GilbertThompson · CC BY-SA 4.0Measured against area pay, Summit costs more to live in than 61% of U.S. towns
Up 5% in a year, 26% below the Mississippi typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the McComb, MS micro area ($45K). How TownRatings grades cost of living
Only 1 sale in September 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the McComb-area micro earn ($45K, Census 2020–24). Even so, the typical home costs 2.5 years of area income, and 78% of renters pay 30% or more of income for housing.
In dollars
- $143Ktypical home, 26% below the Mississippi typical homeZillow, September 2026
- $980a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 2.5 yrsof area income buys the typical home; the typical U.S. town: 3.3$45K, McComb-area income
- 25%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 78%of renters pay 30%+ of income for housing; across Mississippi: 51%Census 2020–24
- 26%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in Summit
Prices are 10% below their 2022 peak
The typical Summit home peaked at $159K in August 2022 and is worth about $143K now. Across Mississippi, values are at or near their high. Over five years, Summit is down 9%. Price trend ↓
Owning can cost less than renting
With 20% down at the calculator’s rate, the typical Summit home runs about $830 a month with tax and insurance. A two-bedroom rents for about $980. The hurdle is getting in: the down payment, and a budget at the median income that falls short of the typical home. Can I afford it? ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Summit’s grade
Measured against what households in the area earn, Summit is more affordable than 39% of U.S. towns. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have lagged Mississippi: the typical Summit home is down 9.0% in five years, against 11.3% statewide (Zillow).
Down 9% in five years
Slower than Mississippi (11.3%).
Show as a table
| January | Summit | Mississippi |
|---|---|---|
| 2017 | $123,000 | $136,000 |
| 2018 | $130,000 | $138,000 |
| 2019 | $135,000 | $142,000 |
| 2020 | $137,000 | $148,000 |
| 2021 | $144,000 | $160,000 |
| 2022 | $158,000 | $183,000 |
| 2023 | $152,000 | $186,000 |
| 2024 | $144,000 | $186,000 |
| 2025 | $145,000 | $192,000 |
| 2026 | $134,000 | $192,000 |
| September 2026 | $143,000 | $195,000 |
A typical Summit home worth $122K in October 2016 is worth about $143K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A year’s rent takes 25% of area income
The calculator starts from the area income the grade uses. Switch to Summit’s own median, or type yours.
That covers a typical Summit home, with $39K to spare.
A two-bedroom rents for about $980 a month here, $150 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Summit’s typical property tax (0.65% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $980
Renters already here pay a median of $929.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Amite County, MS): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Summit in 2025. The last year with any was 2023 (1 new home).
Between the 2010 and 2020 censuses, Summit's population fell by 200 even though 10 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 1 | 1 | 0 | $130,000 |
| 2022 | 1 | 1 | 0 | $225,000 |
| 2021 | 1 | 1 | 0 | $97,000 |
| 2020 | 1 | 1 | 0 | $97,000 |
| 2019 | 1 | 1 | 0 | $97,000 |
| 2018 | 1 | 1 | 0 | $97,000 |
| 2017 | 1 | 1 | 0 | $200,000 |
| 2016 | 1 | 1 | 0 | $200,000 |
| 2015 | 1 | 1 | 0 | $200,000 |
| 2014 | 1 | 1 | 0 | $200,000 |
| 2013 | 1 | 1 | 0 | $200,000 |
| 2012 | 1 | 1 | 0 | $200,000 |
| 2011 | 1 | 1 | 0 | $200,000 |
| 2010 | 1 | 1 | 0 | $200,000 |
| 2009 | 4 | 4 | 0 | $215,000 |
| 2008 | 6 | 6 | 0 | $323,000 |
| 2007 | 10 | 10 | 0 | $538,000 |
| 2006 | 12 | 12 | 0 | $646,000 |
| 2005 | 13 | 13 | 0 | $700,000 |
| 2004 | 4 | 1 | 3 | $66,000 |
| 2003 | 5 | 1 | 4 | $66,000 |
| 2002 | 1 | 1 | 0 | $66,000 |
| 2001 | 1 | 1 | 0 | $66,000 |
| 2000 | 1 | 1 | 0 | $66,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Mississippi norm
The median bill is $733 (Mississippi: $1,215), 0.65% of a home’s value a year, against 0.72% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Summit vs. its neighbors
Of the 2 towns here with a Zillow value, Summit has the 2nd-lowest.
Questions about the cost of living in Summit
Is Summit expensive to live in?
Measured against what households in the area earn, Summit costs more than 61% of U.S. towns: a C+ for cost of living. The typical home costs 2.5 years of the median household income of the McComb, MS micro area ($45K).
How much does a house cost in Summit?
About $143K, Zillow’s typical value for September 2026, up 5.0% in a year. The Mississippi typical home is $195K.
What salary do you need to live in Summit?
To buy the typical home with 20% down at 6.3%, about $35,000 a year, keeping the payment (about $830 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $39,000.
How much is rent in Summit?
HUD puts a two-bedroom at about $980 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $929 (Census 2020–24).
What are property taxes in Summit?
The median bill is $733 a year, 0.65% of the median home value (Mississippi: $1,215, 0.72%), from the Census 2020–24.
Are home prices in Summit going up?
Yes: up 5.0% in the past year and -9.0% in five years, against 11.3% across Mississippi (Zillow).
Neighbors talk housing
What Summit buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.