Southaven, Mississippi Housing Market Prices
Southaven Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 8% below the Mississippi median$120,242
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Median rent 54% above the Mississippi median$1,467
Housing Market Overview
| Metric | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,242 | $130,069 | $248,835 |
| Price Trend (Annual %) | 2.6% | 5.6% | 7.5% |
| Median Gross Rent | $1,467 | $954 | $1,407 |
| Rent Trend (Annual %) | 5.5% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Southaven is about 8% lower than in Mississippi. Rent is about 54% higher than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Southaven, up about 2.6% and 5.5% a year respectively. Rent is changing faster.
Median rent in Southaven rose about 55.8% between 2015 and 2024, from $942 to $1,467. Over the same span, rent in Mississippi rose about 33.2%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Southaven.
Buying the median-priced home in Southaven costs roughly 6.8 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 Southaven. The price-to-rent ratio in Mississippi is about 11.4.
| Metric | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $120,242 | $130,069 | $248,835 |
| Median Household Income | $79,998 | $56,669 | $80,455 |
| Price-to-Income Ratio | 1.5 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Southaven rose about 7.6%, while median household income rose about 39.2% between 2009 and 2025 — 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 | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.3% | 59.8% | 58.5% |
| Rental Rate | 24.3% | 25.6% | 31.2% |
| Vacancy Rate | 7.5% | 14.6% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Southaven has a homeownership rate of 68.3%, higher than the Mississippi average of 59.8%. Its housing vacancy rate is 7.5%, compared with 14.6% in Mississippi.
Housing Stock
| Metric | Southaven | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1995 | 1986 | 1978 |
| Median Number of Rooms | 6.2 | 5.7 | 5.5 |
The typical housing unit in Southaven was built around 1995. On average, 2.7 people live in a home with about 6.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Southaven, Mississippi.
What is the median home price in Southaven, Mississippi?
The median home price in Southaven, Mississippi is $120,242, lower than the Mississippi average of $130,069.
What is the average home price in Southaven, Mississippi?
The typical home price in Southaven, Mississippi, reported as the median sale price, is $120,242. 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 Southaven, Mississippi?
The median gross rent in Southaven, Mississippi is $1,467 per month, higher than the Mississippi average of $954.
What was the median gross rent in Southaven in 2020?
In 2020, the median gross rent in Southaven, Mississippi was $1,050 per month.
What is the price-to-rent ratio in Southaven, Mississippi?
The price-to-rent ratio in Southaven, Mississippi is about 6.8, meaning it would take roughly 6.8 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 Southaven.
Are home prices or rent rising faster in Southaven, Mississippi?
Both home prices and rent are rising in Southaven, up about 2.6% and 5.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Southaven, Mississippi?
68.3% of households in Southaven, Mississippi own their home, higher than the Mississippi average of 59.8%.
What is the vacancy rate in Southaven, Mississippi?
The housing vacancy rate in Southaven, Mississippi is 7.5%, lower than the Mississippi average of 14.6%.
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