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 | Chickasaw County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $181,451 | $119,791 | $242,182 |
| Price Trend (Annual %) | 35.9% | 5.1% | 8.2% |
| Median Gross Rent | $702 | $923 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chickasaw County is about 51% higher than in Mississippi. Rent is about 24% 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 Chickasaw County, up about 35.9% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Chickasaw County rose about 31.9% between 2015 and 2023, from $532 to $702. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Chickasaw County.
Buying the median-priced home in Chickasaw County costs roughly 21.6 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 Chickasaw County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Chickasaw County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $181,451 | $119,791 | $242,182 |
| Median Household Income | $43,052 | $55,084 | $78,145 |
| Price-to-Income Ratio | 4.2 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Chickasaw County rose about 433.7%, while median household income rose about 45.3% 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 | Chickasaw County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.5% | 59.0% | 58.2% |
| Rental Rate | 28.0% | 25.9% | 31.3% |
| Vacancy Rate | 14.5% | 15.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Chickasaw County has a homeownership rate of 57.5%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 14.5%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Chickasaw County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Chickasaw County was built around 1982. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chickasaw County, Mississippi.
What is the median home price in Chickasaw County, Mississippi?
The median home price in Chickasaw County, Mississippi is $181,451, higher than the Mississippi average of $119,791.
What is the average home price in Chickasaw 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 Chickasaw County, Mississippi?
The median gross rent in Chickasaw County, Mississippi is $702 per month, lower than the Mississippi average of $923.
What was the median gross rent in Chickasaw County in 2020?
In 2020, the median gross rent in Chickasaw County, Mississippi was $641 per month.
What is the price-to-rent ratio in Chickasaw County, Mississippi?
The price-to-rent ratio in Chickasaw County, Mississippi is about 21.6, meaning it would take roughly 21.6 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 Chickasaw County.
Are home prices or rent rising faster in Chickasaw County, Mississippi?
Both home prices and rent are rising in Chickasaw County, up about 35.9% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chickasaw County, Mississippi?
57.5% of households in Chickasaw County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Chickasaw County, Mississippi?
The housing vacancy rate in Chickasaw County, Mississippi is 14.5%, lower than the Mississippi average of 15.1%.