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 | Greene County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,380 | $119,791 | $242,182 |
| Price Trend (Annual %) | 6.0% | 5.1% | 8.2% |
| Median Gross Rent | $811 | $923 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greene County is about 35% higher than in Mississippi. Rent is about 12% 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 Greene County, up about 6.0% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Greene County rose about 40.8% between 2015 and 2023, from $576 to $811. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Greene County.
Buying the median-priced home in Greene County costs roughly 16.6 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 Greene County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Greene County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,380 | $119,791 | $242,182 |
| Median Household Income | $54,049 | $55,084 | $78,145 |
| Price-to-Income Ratio | 3.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Greene County rose about 47.2%, while median household income rose about 44.1% 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 | Greene County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.0% | 59.0% | 58.2% |
| Rental Rate | 16.3% | 25.9% | 31.3% |
| Vacancy Rate | 25.7% | 15.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Greene County has a homeownership rate of 58.0%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 25.7%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Greene County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Greene County was built around 1985. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greene County, Mississippi.
What is the median home price in Greene County, Mississippi?
The median home price in Greene County, Mississippi is $161,380, higher than the Mississippi average of $119,791.
What is the average home price in Greene 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 Greene County, Mississippi?
The median gross rent in Greene County, Mississippi is $811 per month, lower than the Mississippi average of $923.
What was the median gross rent in Greene County in 2020?
In 2020, the median gross rent in Greene County, Mississippi was $627 per month.
What is the price-to-rent ratio in Greene County, Mississippi?
The price-to-rent ratio in Greene County, Mississippi is about 16.6, meaning it would take roughly 16.6 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 Greene County.
Are home prices or rent rising faster in Greene County, Mississippi?
Both home prices and rent are rising in Greene County, up about 6.0% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Greene County, Mississippi?
58.0% of households in Greene County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Greene County, Mississippi?
The housing vacancy rate in Greene County, Mississippi is 25.7%, higher than the Mississippi average of 15.1%.