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 | Scott County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,364 | $119,791 | $242,182 |
| Price Trend (Annual %) | 16.0% | 5.1% | 8.2% |
| Median Gross Rent | $887 | $923 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Scott County is about 33% lower 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 Scott County, up about 16.0% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Scott County rose about 41.2% between 2015 and 2023, from $628 to $887. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Scott County.
Buying the median-priced home in Scott County costs roughly 7.6 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 Scott County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Scott County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,364 | $119,791 | $242,182 |
| Median Household Income | $48,403 | $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 Scott County rose about 80.1%, while median household income rose about 51.0% 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 | Scott County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.9% | 59.0% | 58.2% |
| Rental Rate | 23.8% | 25.9% | 31.3% |
| Vacancy Rate | 15.4% | 15.1% | 10.6% |
| Median Tenure (years) | 19.0 | 16.0 | 15.0 |
| Median Year Moved In | 2007 | 2010 | 2011 |
Scott County has a homeownership rate of 60.9%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 15.4%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Scott County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1986 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Scott County was built around 1986. On average, 2.8 people live in a home with about 5.9 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Scott County, Mississippi.
What is the median home price in Scott County, Mississippi?
The median home price in Scott County, Mississippi is $80,364, lower than the Mississippi average of $119,791.
What is the average home price in Scott 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 Scott County, Mississippi?
The median gross rent in Scott County, Mississippi is $887 per month, lower than the Mississippi average of $923.
What was the median gross rent in Scott County in 2020?
In 2020, the median gross rent in Scott County, Mississippi was $703 per month.
What is the price-to-rent ratio in Scott County, Mississippi?
The price-to-rent ratio in Scott County, Mississippi is about 7.6, meaning it would take roughly 7.6 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 Scott County.
Are home prices or rent rising faster in Scott County, Mississippi?
Both home prices and rent are rising in Scott County, up about 16.0% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Scott County, Mississippi?
60.9% of households in Scott County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Scott County, Mississippi?
The housing vacancy rate in Scott County, Mississippi is 15.4%, higher than the Mississippi average of 15.1%.