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 | DeSoto County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,317 | $119,791 | $242,182 |
| Price Trend (Annual %) | 0.2% | 5.1% | 8.2% |
| Median Gross Rent | $1,340 | $923 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in DeSoto County is about the same as in Mississippi. Rent is about 45% higher 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 DeSoto County, up about 0.2% and 4.7% a year respectively. Rent is changing faster.
Median rent in DeSoto County rose about 40.0% between 2015 and 2023, from $957 to $1,340. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in DeSoto County.
Buying the median-priced home in DeSoto County costs roughly 7.4 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 DeSoto County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | DeSoto County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,317 | $119,791 | $242,182 |
| Median Household Income | $83,150 | $55,084 | $78,145 |
| Price-to-Income Ratio | 1.4 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in DeSoto County fell about 8.7%, while median household income rose about 42.9% 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 | DeSoto County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.8% | 59.0% | 58.2% |
| Rental Rate | 20.8% | 25.9% | 31.3% |
| Vacancy Rate | 6.4% | 15.1% | 10.6% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
DeSoto County has a homeownership rate of 72.8%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 6.4%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | DeSoto County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1989 | 1985 | 1978 |
| Median Number of Rooms | 6.3 | 5.7 | 5.5 |
The typical housing unit in DeSoto County was built around 1989. On average, 2.7 people live in a home with about 6.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in DeSoto County, Mississippi.
What is the median home price in DeSoto County, Mississippi?
The median home price in DeSoto County, Mississippi is $119,317, about the same as the Mississippi average.
What is the average home price in DeSoto 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 DeSoto County, Mississippi?
The median gross rent in DeSoto County, Mississippi is $1,340 per month, higher than the Mississippi average of $923.
What was the median gross rent in DeSoto County in 2020?
In 2020, the median gross rent in DeSoto County, Mississippi was $1,073 per month.
What is the price-to-rent ratio in DeSoto County, Mississippi?
The price-to-rent ratio in DeSoto County, Mississippi is about 7.4, meaning it would take roughly 7.4 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 DeSoto County.
Are home prices or rent rising faster in DeSoto County, Mississippi?
Both home prices and rent are rising in DeSoto County, up about 0.2% and 4.7% a year respectively. Rent is changing faster.
What is the homeownership rate in DeSoto County, Mississippi?
72.8% of households in DeSoto County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in DeSoto County, Mississippi?
The housing vacancy rate in DeSoto County, Mississippi is 6.4%, lower than the Mississippi average of 15.1%.