Horn Lake, Mississippi Housing Market Prices
Horn Lake Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 13% below the Mississippi median$113,219
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Median rent 48% above the Mississippi median$1,410
Housing Market Overview
| Metric | Horn Lake | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,219 | $130,069 | $248,835 |
| Price Trend (Annual %) | 6.4% | 5.6% | 7.5% |
| Median Gross Rent | $1,410 | $954 | $1,407 |
| Rent Trend (Annual %) | 4.9% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Horn Lake is about 13% lower than in Mississippi. Rent is about 48% higher than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Horn Lake, up about 6.4% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Horn Lake rose about 46.1% between 2015 and 2024, from $966 to $1,410. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Horn Lake.
Buying the median-priced home in Horn Lake costs roughly 6.7 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 Horn Lake. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Horn Lake | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,219 | $130,069 | $248,835 |
| Median Household Income | $53,691 | $56,669 | $80,455 |
| Price-to-Income Ratio | 2.1 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Horn Lake rose about 45.1%, while median household income rose about 10.7% between 2009 and 2025 — 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 | Horn Lake | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.8% | 59.8% | 58.5% |
| Rental Rate | 37.4% | 25.6% | 31.2% |
| Vacancy Rate | 8.8% | 14.6% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Horn Lake has a homeownership rate of 53.8%, lower than the Mississippi average of 59.8%. Its housing vacancy rate is 8.8%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Horn Lake | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1990 | 1986 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Horn Lake was built around 1990. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Horn Lake, Mississippi.
What is the median home price in Horn Lake, Mississippi?
The median home price in Horn Lake, Mississippi is $113,219, lower than the Mississippi average of $130,069.
What is the average home price in Horn Lake, Mississippi?
The typical home price in Horn Lake, Mississippi, reported as the median sale price, is $113,219. 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 Horn Lake, Mississippi?
The median gross rent in Horn Lake, Mississippi is $1,410 per month, higher than the Mississippi average of $954.
What was the median gross rent in Horn Lake in 2020?
In 2020, the median gross rent in Horn Lake, Mississippi was $1,060 per month.
What is the price-to-rent ratio in Horn Lake, Mississippi?
The price-to-rent ratio in Horn Lake, Mississippi is about 6.7, meaning it would take roughly 6.7 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 Horn Lake.
Are home prices or rent rising faster in Horn Lake, Mississippi?
Both home prices and rent are rising in Horn Lake, up about 6.4% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Horn Lake, Mississippi?
53.8% of households in Horn Lake, Mississippi own their home, lower than the Mississippi average of 59.8%.
What is the vacancy rate in Horn Lake, Mississippi?
The housing vacancy rate in Horn Lake, Mississippi is 8.8%, lower than the Mississippi average of 14.6%.
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