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 | Claiborne County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $313,889 | $119,791 | $242,182 |
| Price Trend (Annual %) | — | 5.1% | 8.2% |
| Median Gross Rent | $651 | $923 | $1,342 |
| Rent Trend (Annual %) | 2.3% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Claiborne County is about 162% higher than in Mississippi. Rent is about 30% lower than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2023
Median Rent Prices, 2015-2023
Median rent in Claiborne County rose about 14.4% between 2015 and 2023, from $569 to $651. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 9.3 yearly household incomes in Claiborne County.
Buying the median-priced home in Claiborne County costs roughly 40.2 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 Claiborne County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Claiborne County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $313,889 | $119,791 | $242,182 |
| Median Household Income | $33,855 | $55,084 | $78,145 |
| Price-to-Income Ratio | 9.3 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Occupancy & Tenure
| Metric | Claiborne County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.0% | 59.0% | 58.2% |
| Rental Rate | 17.8% | 25.9% | 31.3% |
| Vacancy Rate | 28.2% | 15.1% | 10.6% |
| Median Tenure (years) | 22.0 | 16.0 | 15.0 |
| Median Year Moved In | 2004 | 2010 | 2011 |
Claiborne County has a homeownership rate of 54.0%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 28.2%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Claiborne County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Claiborne County was built around 1982. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 22.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Claiborne County, Mississippi.
What is the median home price in Claiborne County, Mississippi?
The median home price in Claiborne County, Mississippi is $313,889, higher than the Mississippi average of $119,791.
What is the average home price in Claiborne 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 Claiborne County, Mississippi?
The median gross rent in Claiborne County, Mississippi is $651 per month, lower than the Mississippi average of $923.
What was the median gross rent in Claiborne County in 2020?
In 2020, the median gross rent in Claiborne County, Mississippi was $533 per month.
What is the price-to-rent ratio in Claiborne County, Mississippi?
The price-to-rent ratio in Claiborne County, Mississippi is about 40.2, meaning it would take roughly 40.2 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 Claiborne County.
What is the homeownership rate in Claiborne County, Mississippi?
54.0% of households in Claiborne County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Claiborne County, Mississippi?
The housing vacancy rate in Claiborne County, Mississippi is 28.2%, higher than the Mississippi average of 15.1%.