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 | Tishomingo County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,500 | $119,791 | $242,182 |
| Price Trend (Annual %) | 12.5% | 5.1% | 8.2% |
| Median Gross Rent | $703 | $923 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tishomingo County is about 15% higher than in Mississippi. Rent is about 24% 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 Tishomingo County, up about 12.5% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Tishomingo County rose about 33.7% between 2015 and 2023, from $526 to $703. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Tishomingo County.
Buying the median-priced home in Tishomingo County costs roughly 16.3 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 Tishomingo County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Tishomingo County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $137,500 | $119,791 | $242,182 |
| Median Household Income | $47,031 | $55,084 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tishomingo County rose about 77.0%, while median household income rose about 57.8% 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 | Tishomingo County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.5% | 59.0% | 58.2% |
| Rental Rate | 18.3% | 25.9% | 31.3% |
| Vacancy Rate | 18.2% | 15.1% | 10.6% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Tishomingo County has a homeownership rate of 63.5%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 18.2%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Tishomingo County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1980 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Tishomingo County was built around 1980. On average, 2.1 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tishomingo County, Mississippi.
What is the median home price in Tishomingo County, Mississippi?
The median home price in Tishomingo County, Mississippi is $137,500, higher than the Mississippi average of $119,791.
What is the average home price in Tishomingo 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 Tishomingo County, Mississippi?
The median gross rent in Tishomingo County, Mississippi is $703 per month, lower than the Mississippi average of $923.
What was the median gross rent in Tishomingo County in 2020?
In 2020, the median gross rent in Tishomingo County, Mississippi was $545 per month.
What is the price-to-rent ratio in Tishomingo County, Mississippi?
The price-to-rent ratio in Tishomingo County, Mississippi is about 16.3, meaning it would take roughly 16.3 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 Tishomingo County.
Are home prices or rent rising faster in Tishomingo County, Mississippi?
Both home prices and rent are rising in Tishomingo County, up about 12.5% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Tishomingo County, Mississippi?
63.5% of households in Tishomingo County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Tishomingo County, Mississippi?
The housing vacancy rate in Tishomingo County, Mississippi is 18.2%, higher than the Mississippi average of 15.1%.