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 | Neshoba County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,636 | $119,791 | $242,182 |
| Price Trend (Annual %) | 15.8% | 5.1% | 8.2% |
| Median Gross Rent | $759 | $923 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Neshoba County is about 37% 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 Neshoba County, up about 15.8% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Neshoba County rose about 26.2% between 2015 and 2023, from $602 to $759. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Neshoba County.
Buying the median-priced home in Neshoba County costs roughly 18.0 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 Neshoba County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Neshoba County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $163,636 | $119,791 | $242,182 |
| Median Household Income | $51,943 | $55,084 | $78,145 |
| Price-to-Income Ratio | 3.2 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Neshoba County rose about 108.4%, while median household income rose about 55.0% 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 | Neshoba County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.1% | 59.0% | 58.2% |
| Rental Rate | 21.0% | 25.9% | 31.3% |
| Vacancy Rate | 14.9% | 15.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Neshoba County has a homeownership rate of 64.1%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 14.9%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Neshoba County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Neshoba County was built around 1982. On average, 2.8 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Neshoba County, Mississippi.
What is the median home price in Neshoba County, Mississippi?
The median home price in Neshoba County, Mississippi is $163,636, higher than the Mississippi average of $119,791.
What is the average home price in Neshoba 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 Neshoba County, Mississippi?
The median gross rent in Neshoba County, Mississippi is $759 per month, lower than the Mississippi average of $923.
What was the median gross rent in Neshoba County in 2020?
In 2020, the median gross rent in Neshoba County, Mississippi was $659 per month.
What is the price-to-rent ratio in Neshoba County, Mississippi?
The price-to-rent ratio in Neshoba County, Mississippi is about 18.0, meaning it would take roughly 18.0 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 Neshoba County.
Are home prices or rent rising faster in Neshoba County, Mississippi?
Both home prices and rent are rising in Neshoba County, up about 15.8% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Neshoba County, Mississippi?
64.1% of households in Neshoba County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Neshoba County, Mississippi?
The housing vacancy rate in Neshoba County, Mississippi is 14.9%, lower than the Mississippi average of 15.1%.