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 | Clarke County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,764 | $119,791 | $242,182 |
| Price Trend (Annual %) | 13.8% | 5.1% | 8.2% |
| Median Gross Rent | $803 | $923 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Clarke County is about 35% higher than in Mississippi. Rent is about 13% 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 Clarke County, up about 13.8% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Clarke County rose about 37.2% between 2015 and 2023, from $585 to $803. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Clarke County.
Buying the median-priced home in Clarke County costs roughly 16.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Clarke County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Clarke County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,764 | $119,791 | $242,182 |
| Median Household Income | $45,806 | $55,084 | $78,145 |
| Price-to-Income Ratio | 3.5 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Clarke County rose about 106.5%, while median household income rose about 47.1% 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 | Clarke County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.8% | 59.0% | 58.2% |
| Rental Rate | 13.0% | 25.9% | 31.3% |
| Vacancy Rate | 18.2% | 15.1% | 10.6% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Clarke County has a homeownership rate of 68.8%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 18.2%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Clarke County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Clarke County was built around 1985. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Clarke County, Mississippi.
What is the median home price in Clarke County, Mississippi?
The median home price in Clarke County, Mississippi is $161,764, higher than the Mississippi average of $119,791.
What is the average home price in Clarke 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 Clarke County, Mississippi?
The median gross rent in Clarke County, Mississippi is $803 per month, lower than the Mississippi average of $923.
What was the median gross rent in Clarke County in 2020?
In 2020, the median gross rent in Clarke County, Mississippi was $683 per month.
What is the price-to-rent ratio in Clarke County, Mississippi?
The price-to-rent ratio in Clarke County, Mississippi is about 16.8, meaning it would take roughly 16.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Clarke County.
Are home prices or rent rising faster in Clarke County, Mississippi?
Both home prices and rent are rising in Clarke County, up about 13.8% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Clarke County, Mississippi?
68.8% of households in Clarke County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Clarke County, Mississippi?
The housing vacancy rate in Clarke County, Mississippi is 18.2%, higher than the Mississippi average of 15.1%.