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 | Hinds County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $76,148 | $119,791 | $242,182 |
| Price Trend (Annual %) | -3.0% | 5.1% | 8.2% |
| Median Gross Rent | $1,031 | $923 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hinds County is about 36% lower than in Mississippi. Rent is about 12% higher than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Hinds County: home prices fell about 3.0% a year while rent rose about 4.0% a year. That is an unusual pattern worth watching.
Median rent in Hinds County rose about 33.8% between 2015 and 2023, from $771 to $1,031. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Hinds County.
Buying the median-priced home in Hinds County costs roughly 6.2 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 Hinds County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Hinds County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $76,148 | $119,791 | $242,182 |
| Median Household Income | $49,963 | $55,084 | $78,145 |
| Price-to-Income Ratio | 1.5 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hinds County fell about 27.9%, while median household income rose about 29.7% 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 | Hinds County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.9% | 59.0% | 58.2% |
| Rental Rate | 35.6% | 25.9% | 31.3% |
| Vacancy Rate | 15.5% | 15.1% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Hinds County has a homeownership rate of 48.9%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 15.5%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Hinds County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1979 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Hinds County was built around 1979. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hinds County, Mississippi.
What is the median home price in Hinds County, Mississippi?
The median home price in Hinds County, Mississippi is $76,148, lower than the Mississippi average of $119,791.
What is the average home price in Hinds 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 Hinds County, Mississippi?
The median gross rent in Hinds County, Mississippi is $1,031 per month, higher than the Mississippi average of $923.
What was the median gross rent in Hinds County in 2020?
In 2020, the median gross rent in Hinds County, Mississippi was $874 per month.
What is the price-to-rent ratio in Hinds County, Mississippi?
The price-to-rent ratio in Hinds County, Mississippi is about 6.2, meaning it would take roughly 6.2 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 Hinds County.
Are home prices or rent rising faster in Hinds County, Mississippi?
Home prices and rent are moving in opposite directions in Hinds County: home prices fell about 3.0% a year while rent rose about 4.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Hinds County, Mississippi?
48.9% of households in Hinds County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Hinds County, Mississippi?
The housing vacancy rate in Hinds County, Mississippi is 15.5%, higher than the Mississippi average of 15.1%.