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 | Newton County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $36,400 | $119,791 | $242,182 |
| Price Trend (Annual %) | -9.5% | 5.1% | 8.2% |
| Median Gross Rent | $722 | $923 | $1,342 |
| Rent Trend (Annual %) | 2.4% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Newton County is about 70% lower than in Mississippi. Rent is about 22% lower 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 Newton County: home prices fell about 9.5% a year while rent rose about 2.4% a year. That is an unusual pattern worth watching.
Median rent in Newton County rose about 16.4% between 2015 and 2023, from $620 to $722. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Newton County.
Buying the median-priced home in Newton County costs roughly 4.2 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 Newton County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Newton County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $36,400 | $119,791 | $242,182 |
| Median Household Income | $50,409 | $55,084 | $78,145 |
| Price-to-Income Ratio | 0.7 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Newton County fell about 57.7%, while median household income rose about 41.6% 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 | Newton County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.4% | 59.0% | 58.2% |
| Rental Rate | 17.8% | 25.9% | 31.3% |
| Vacancy Rate | 15.8% | 15.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Newton County has a homeownership rate of 66.4%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 15.8%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Newton County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1987 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Newton County was built around 1987. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Newton County, Mississippi.
What is the median home price in Newton County, Mississippi?
The median home price in Newton County, Mississippi is $36,400, lower than the Mississippi average of $119,791.
What is the average home price in Newton 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 Newton County, Mississippi?
The median gross rent in Newton County, Mississippi is $722 per month, lower than the Mississippi average of $923.
What was the median gross rent in Newton County in 2020?
In 2020, the median gross rent in Newton County, Mississippi was $632 per month.
What is the price-to-rent ratio in Newton County, Mississippi?
The price-to-rent ratio in Newton County, Mississippi is about 4.2, meaning it would take roughly 4.2 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 Newton County.
Are home prices or rent rising faster in Newton County, Mississippi?
Home prices and rent are moving in opposite directions in Newton County: home prices fell about 9.5% a year while rent rose about 2.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Newton County, Mississippi?
66.4% of households in Newton County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Newton County, Mississippi?
The housing vacancy rate in Newton County, Mississippi is 15.8%, higher than the Mississippi average of 15.1%.