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 | Pearl River County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,490 | $119,791 | $242,182 |
| Price Trend (Annual %) | 7.2% | 5.1% | 8.2% |
| Median Gross Rent | $886 | $923 | $1,342 |
| Rent Trend (Annual %) | 2.8% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pearl River County is about 72% higher than in Mississippi. Rent is about 4% 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 Pearl River County, up about 7.2% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Pearl River County rose about 12.7% between 2015 and 2023, from $786 to $886. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Pearl River County.
Buying the median-priced home in Pearl River County costs roughly 19.4 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 Pearl River County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Pearl River County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,490 | $119,791 | $242,182 |
| Median Household Income | $56,810 | $55,084 | $78,145 |
| Price-to-Income Ratio | 3.6 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pearl River County rose about 35.5%, while median household income rose about 46.8% 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 | Pearl River County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.8% | 59.0% | 58.2% |
| Rental Rate | 14.7% | 25.9% | 31.3% |
| Vacancy Rate | 14.5% | 15.1% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Pearl River County has a homeownership rate of 70.8%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 14.5%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Pearl River County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1988 | 1985 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Pearl River County was built around 1988. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Pearl River County, Mississippi.
What is the median home price in Pearl River County, Mississippi?
The median home price in Pearl River County, Mississippi is $206,490, higher than the Mississippi average of $119,791.
What is the average home price in Pearl River 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 Pearl River County, Mississippi?
The median gross rent in Pearl River County, Mississippi is $886 per month, lower than the Mississippi average of $923.
What was the median gross rent in Pearl River County in 2020?
In 2020, the median gross rent in Pearl River County, Mississippi was $804 per month.
What is the price-to-rent ratio in Pearl River County, Mississippi?
The price-to-rent ratio in Pearl River County, Mississippi is about 19.4, meaning it would take roughly 19.4 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 Pearl River County.
Are home prices or rent rising faster in Pearl River County, Mississippi?
Both home prices and rent are rising in Pearl River County, up about 7.2% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pearl River County, Mississippi?
70.8% of households in Pearl River County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Pearl River County, Mississippi?
The housing vacancy rate in Pearl River County, Mississippi is 14.5%, lower than the Mississippi average of 15.1%.