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 | Noxubee County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $27,500 | $119,791 | $242,182 |
| Price Trend (Annual %) | -11.2% | 5.1% | 8.2% |
| Median Gross Rent | $589 | $923 | $1,342 |
| Rent Trend (Annual %) | 0.9% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Noxubee County is about 77% lower than in Mississippi. Rent is about 36% 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 Noxubee County: home prices fell about 11.2% a year while rent rose about 0.9% a year. That is an unusual pattern worth watching.
Median rent in Noxubee County rose about 10.6% between 2015 and 2023, from $533 to $589. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Noxubee County.
Buying the median-priced home in Noxubee County costs roughly 3.9 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 Noxubee County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Noxubee County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $27,500 | $119,791 | $242,182 |
| Median Household Income | $37,676 | $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 Noxubee County fell about 56.6%, while median household income rose about 59.5% 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 | Noxubee County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.7% | 59.0% | 58.2% |
| Rental Rate | 19.4% | 25.9% | 31.3% |
| Vacancy Rate | 19.9% | 15.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Noxubee County has a homeownership rate of 60.7%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 19.9%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Noxubee County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.63 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Noxubee County was built around 1982. 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 Noxubee County, Mississippi.
What is the median home price in Noxubee County, Mississippi?
The median home price in Noxubee County, Mississippi is $27,500, lower than the Mississippi average of $119,791.
What is the average home price in Noxubee 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 Noxubee County, Mississippi?
The median gross rent in Noxubee County, Mississippi is $589 per month, lower than the Mississippi average of $923.
What was the median gross rent in Noxubee County in 2020?
In 2020, the median gross rent in Noxubee County, Mississippi was $542 per month.
What is the price-to-rent ratio in Noxubee County, Mississippi?
The price-to-rent ratio in Noxubee County, Mississippi is about 3.9, meaning it would take roughly 3.9 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 Noxubee County.
Are home prices or rent rising faster in Noxubee County, Mississippi?
Home prices and rent are moving in opposite directions in Noxubee County: home prices fell about 11.2% a year while rent rose about 0.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Noxubee County, Mississippi?
60.7% of households in Noxubee County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Noxubee County, Mississippi?
The housing vacancy rate in Noxubee County, Mississippi is 19.9%, higher than the Mississippi average of 15.1%.