Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Mississippi County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $25,740 | $123,805 | $242,182 |
| Price Trend (Annual %) | -3.6% | 5.2% | 8.2% |
| Median Gross Rent | $796 | $913 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mississippi County is about 79% lower than in Arkansas. Rent is about 13% lower than the Arkansas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Mississippi County: home prices fell about 3.6% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
Median rent in Mississippi County rose about 27.7% between 2015 and 2023, from $624 to $796. Over the same span, rent in Arkansas rose about 35.1%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Mississippi County.
Buying the median-priced home in Mississippi County costs roughly 2.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mississippi County. The price-to-rent ratio in Arkansas is about 11.3.
| Metric | Mississippi County | Arkansas Avg | US Average |
|---|---|---|---|
| Median Home Price | $25,740 | $123,805 | $242,182 |
| Median Household Income | $52,821 | $58,772 | $78,145 |
| Price-to-Income Ratio | 0.5 | 2.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Mississippi County fell about 59.1%, while median household income rose about 58.6% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mississippi County | Arkansas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.8% | 56.9% | 58.2% |
| Rental Rate | 32.6% | 29.1% | 31.3% |
| Vacancy Rate | 19.6% | 14.0% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Mississippi County has a homeownership rate of 47.8%, lower than the Arkansas average of 56.9%. Its housing vacancy rate is 19.6%, compared with 14.0% in Arkansas.
Housing Stock
| Metric | Mississippi County | Arkansas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.48 people | 2.54 people |
| Median Structure Built Year | 1979 | 1986 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Mississippi County was built around 1979. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mississippi County, Arkansas.
What is the median home price in Mississippi County, Arkansas?
The median home price in Mississippi County, Arkansas is $25,740, lower than the Arkansas average of $123,805.
What is the average home price in Mississippi County, Arkansas?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Mississippi County, Arkansas?
The median gross rent in Mississippi County, Arkansas is $796 per month, lower than the Arkansas average of $913.
What was the median gross rent in Mississippi County in 2020?
In 2020, the median gross rent in Mississippi County, Arkansas was $655 per month.
What is the price-to-rent ratio in Mississippi County, Arkansas?
The price-to-rent ratio in Mississippi County, Arkansas is about 2.7, meaning it would take roughly 2.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mississippi County.
Are home prices or rent rising faster in Mississippi County, Arkansas?
Home prices and rent are moving in opposite directions in Mississippi County: home prices fell about 3.6% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Mississippi County, Arkansas?
47.8% of households in Mississippi County, Arkansas own their home, lower than the Arkansas average of 56.9%.
What is the vacancy rate in Mississippi County, Arkansas?
The housing vacancy rate in Mississippi County, Arkansas is 19.6%, higher than the Arkansas average of 14.0%.