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 | Lincoln County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,249,863 | $119,791 | $242,182 |
| Price Trend (Annual %) | 75.3% | 5.1% | 8.2% |
| Median Gross Rent | $754 | $923 | $1,342 |
| Rent Trend (Annual %) | 2.0% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lincoln County is about 943% higher than in Mississippi. Rent is about 18% 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 Lincoln County, up about 75.3% and 2.0% a year respectively. Home prices are changing faster.
Median rent in Lincoln County rose about 18.3% between 2015 and 2023, from $638 to $754. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 26.0 yearly household incomes in Lincoln County.
Buying the median-priced home in Lincoln County costs roughly 138.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lincoln County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Lincoln County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,249,863 | $119,791 | $242,182 |
| Median Household Income | $48,090 | $55,084 | $78,145 |
| Price-to-Income Ratio | 26.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lincoln County rose about 1783.1%, while median household income rose about 27.4% 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 | Lincoln County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.5% | 59.0% | 58.2% |
| Rental Rate | 21.5% | 25.9% | 31.3% |
| Vacancy Rate | 18.0% | 15.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Lincoln County has a homeownership rate of 60.5%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 18.0%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Lincoln County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.63 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Lincoln County was built around 1985. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lincoln County, Mississippi.
What is the median home price in Lincoln County, Mississippi?
The median home price in Lincoln County, Mississippi is $1,249,863, higher than the Mississippi average of $119,791.
What is the average home price in Lincoln 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 Lincoln County, Mississippi?
The median gross rent in Lincoln County, Mississippi is $754 per month, lower than the Mississippi average of $923.
What was the median gross rent in Lincoln County in 2020?
In 2020, the median gross rent in Lincoln County, Mississippi was $697 per month.
What is the price-to-rent ratio in Lincoln County, Mississippi?
The price-to-rent ratio in Lincoln County, Mississippi is about 138.1, meaning it would take roughly 138.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lincoln County.
Are home prices or rent rising faster in Lincoln County, Mississippi?
Both home prices and rent are rising in Lincoln County, up about 75.3% and 2.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lincoln County, Mississippi?
60.5% of households in Lincoln County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Lincoln County, Mississippi?
The housing vacancy rate in Lincoln County, Mississippi is 18.0%, higher than the Mississippi average of 15.1%.