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Residential Living

Residential Living

Sophisticated Small Town with Big-City Amenities

Lafayette County contains a vast selection of attractive neighborhoods and residential communities as well as small farms and wooded landscapes to accommodate every lifestyle – from raising a family to managing a small in-home business to retiring. Housing is plentiful, especially in Oxford, which offers contemporary single-family homes of all sizes, elegant traditional-style dwellings, as well as an array of apartment, condominium and townhouse selections.

Oxford offers many small-town advantages combined with big-city amenities. The availability of high-quality affordable and luxury homes in the area has helped to earn Oxford notable national recognition in recent years. The town has been listed numerous times among the “Best 100 Small Towns” by USA Today, among Time magazine’s “7 Great Places to Retire,” and Money magazine’s six “Best Places to Retire.”

In 2014 the average selling price for existing residential homes in Oxford and Lafayette County was $248,549, with average price per square foot at $110. The average selling price for new construction was $317,943 with the average price per square foot at $134. However the range of existing and new construction properties included something for everyone from under $100,000 to $1,500,000. These figures represent single-family residences only, excluding townhouses and condos. Source: North Central Mississippi REALTORS MLS Service for the period 1/1/2014 to 12/31/2014. Information deemed to be reliable, but is not guaranteed.

Newcomers are often pleasantly surprised to find that even resort golf course living is available. A beautifully manicured golf community has sites available for residential use, and golf villas are nestled around the fairways of the 1,000-acre site.

In 2013, ranked Oxford as one of the “Top 6 College Towns in Which to Retire.” Also, in early 2013, Oxford was featured on NBC Nightly News as they highlighted “College Towns Doubling as Retirement Destinations.”

Oxford House

As part of the Oxford-Lafayette County Economic Development Foundation’s Retiree Attraction Program (RAP), Retiree Ambassador volunteers conduct tours of Oxford for those who call in advance. These tours feature housing options and points of interest in the area for those interested in retiring to Oxford. The RAP office can be reached at (800) 880-6967.

For persons age 65 and over Mississippi law provides a generous exemption from certain ad valorem taxes for those who homestead in Lafayette County. The first $75,000 of true value on a declared homestead is exempt from local property taxes. For example, the annual property tax on a $200,000 home in the City of Oxford is $1,587.80 and in Lafayette County $465.40 (based on the 2015 mileage rates). However, for persons over age 65, the same

home would have a property tax of approximately $1086.13 in the city and $384.63 in the county. In the city residents pay an ad valorem tax to both the City of Oxford and Lafayette County. A Separate School District tax for maintenance of the Separate School District is required of city residents. In the county residents pay an ad valorem tax on real property. If located within the Separate School District but outside Oxford city limits, residents are required to pay a Separate School District tax. If located outside of the Separate school District, residents pay a Lafayette County School Tax. Additionally, the state of Mississippi has a 7 percent sales tax.

Scenic and serene, the area offers an overall cost of living below the national average, and taxes are comparatively low. Many friendly and reputable realtors are members of the Oxford-Lafayette County Chamber of Commerce and eagerly serve the area’s home buying and selling needs. There are also a number of banking and lending institutions to help with your mortgage needs.

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