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 | Oktibbeha County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,172 | $119,791 | $242,182 |
| Price Trend (Annual %) | 0.5% | 5.1% | 8.2% |
| Median Gross Rent | $872 | $923 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oktibbeha County is about 37% lower than in Mississippi. Rent is about 6% 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 Oktibbeha County, up about 0.5% and 2.6% a year respectively. Rent is changing faster.
Median rent in Oktibbeha County rose about 21.8% between 2015 and 2023, from $716 to $872. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Oktibbeha County.
Buying the median-priced home in Oktibbeha County costs roughly 7.2 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 Oktibbeha County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Oktibbeha County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,172 | $119,791 | $242,182 |
| Median Household Income | $43,826 | $55,084 | $78,145 |
| Price-to-Income Ratio | 1.7 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Oktibbeha County rose about 15.3%, while median household income rose about 64.2% 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 | Oktibbeha County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.8% | 59.0% | 58.2% |
| Rental Rate | 44.0% | 25.9% | 31.3% |
| Vacancy Rate | 16.2% | 15.1% | 10.6% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Oktibbeha County has a homeownership rate of 39.8%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 16.2%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Oktibbeha County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.15 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1991 | 1985 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Oktibbeha County was built around 1991. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Oktibbeha County, Mississippi.
What is the median home price in Oktibbeha County, Mississippi?
The median home price in Oktibbeha County, Mississippi is $75,172, lower than the Mississippi average of $119,791.
What is the average home price in Oktibbeha 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 Oktibbeha County, Mississippi?
The median gross rent in Oktibbeha County, Mississippi is $872 per month, lower than the Mississippi average of $923.
What was the median gross rent in Oktibbeha County in 2020?
In 2020, the median gross rent in Oktibbeha County, Mississippi was $795 per month.
What is the price-to-rent ratio in Oktibbeha County, Mississippi?
The price-to-rent ratio in Oktibbeha County, Mississippi is about 7.2, meaning it would take roughly 7.2 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 Oktibbeha County.
Are home prices or rent rising faster in Oktibbeha County, Mississippi?
Both home prices and rent are rising in Oktibbeha County, up about 0.5% and 2.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Oktibbeha County, Mississippi?
39.8% of households in Oktibbeha County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Oktibbeha County, Mississippi?
The housing vacancy rate in Oktibbeha County, Mississippi is 16.2%, higher than the Mississippi average of 15.1%.