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 | Marshall County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $90,182 | $119,791 | $242,182 |
| Price Trend (Annual %) | 0.6% | 5.1% | 8.2% |
| Median Gross Rent | $926 | $923 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marshall County is about 25% lower than in Mississippi. Rent follows a similar pattern, running close to 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 Marshall County, up about 0.6% and 5.4% a year respectively. Rent is changing faster.
Median rent in Marshall County rose about 37.1% between 2015 and 2023, from $676 to $926. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Marshall County.
Buying the median-priced home in Marshall County costs roughly 8.1 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 Marshall County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Marshall County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $90,182 | $119,791 | $242,182 |
| Median Household Income | $51,001 | $55,084 | $78,145 |
| Price-to-Income Ratio | 1.8 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marshall County rose about 23.9%, while median household income rose about 57.1% 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 | Marshall County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.1% | 59.0% | 58.2% |
| Rental Rate | 19.5% | 25.9% | 31.3% |
| Vacancy Rate | 16.4% | 15.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Marshall County has a homeownership rate of 64.1%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 16.4%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Marshall County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1992 | 1985 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Marshall County was built around 1992. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marshall County, Mississippi.
What is the median home price in Marshall County, Mississippi?
The median home price in Marshall County, Mississippi is $90,182, lower than the Mississippi average of $119,791.
What is the average home price in Marshall 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 Marshall County, Mississippi?
The median gross rent in Marshall County, Mississippi is $926 per month, about the same as the Mississippi average.
What was the median gross rent in Marshall County in 2020?
In 2020, the median gross rent in Marshall County, Mississippi was $742 per month.
What is the price-to-rent ratio in Marshall County, Mississippi?
The price-to-rent ratio in Marshall County, Mississippi is about 8.1, meaning it would take roughly 8.1 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 Marshall County.
Are home prices or rent rising faster in Marshall County, Mississippi?
Both home prices and rent are rising in Marshall County, up about 0.6% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Marshall County, Mississippi?
64.1% of households in Marshall County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Marshall County, Mississippi?
The housing vacancy rate in Marshall County, Mississippi is 16.4%, higher than the Mississippi average of 15.1%.