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 | Bolivar County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $328,592 | $119,791 | $242,182 |
| Price Trend (Annual %) | 178.6% | 5.1% | 8.2% |
| Median Gross Rent | $670 | $923 | $1,342 |
| Rent Trend (Annual %) | 1.5% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bolivar County is about 174% higher than in Mississippi. Rent is about 27% lower than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Bolivar County, up about 178.6% and 1.5% a year respectively. Home prices are changing faster.
Median rent in Bolivar County rose about 19.0% between 2015 and 2023, from $563 to $670. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 8.8 yearly household incomes in Bolivar County.
Buying the median-priced home in Bolivar County costs roughly 40.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bolivar County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Bolivar County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $328,592 | $119,791 | $242,182 |
| Median Household Income | $37,183 | $55,084 | $78,145 |
| Price-to-Income Ratio | 8.8 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bolivar County rose about 1290.5%, while median household income rose about 49.2% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bolivar County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.1% | 59.0% | 58.2% |
| Rental Rate | 34.0% | 25.9% | 31.3% |
| Vacancy Rate | 13.0% | 15.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Bolivar County has a homeownership rate of 53.1%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 13.0%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Bolivar County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1978 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Bolivar County was built around 1978. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bolivar County, Mississippi.
What is the median home price in Bolivar County, Mississippi?
The median home price in Bolivar County, Mississippi is $328,592, higher than the Mississippi average of $119,791.
What is the average home price in Bolivar County, Mississippi?
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 Bolivar County, Mississippi?
The median gross rent in Bolivar County, Mississippi is $670 per month, lower than the Mississippi average of $923.
What was the median gross rent in Bolivar County in 2020?
In 2020, the median gross rent in Bolivar County, Mississippi was $666 per month.
What is the price-to-rent ratio in Bolivar County, Mississippi?
The price-to-rent ratio in Bolivar County, Mississippi is about 40.8, meaning it would take roughly 40.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bolivar County.
Are home prices or rent rising faster in Bolivar County, Mississippi?
Both home prices and rent are rising in Bolivar County, up about 178.6% and 1.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bolivar County, Mississippi?
53.1% of households in Bolivar County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Bolivar County, Mississippi?
The housing vacancy rate in Bolivar County, Mississippi is 13.0%, lower than the Mississippi average of 15.1%.