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 | Walthall County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $119,791 | $242,182 |
| Price Trend (Annual %) | 22.3% | 5.1% | 8.2% |
| Median Gross Rent | $718 | $923 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Walthall County is about 88% higher than in Mississippi. Rent is about 22% 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 Walthall County, up about 22.3% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Walthall County rose about 51.3% between 2015 and 2023, from $475 to $718. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Walthall County.
Buying the median-priced home in Walthall County costs roughly 26.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Walthall County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Walthall County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $225,000 | $119,791 | $242,182 |
| Median Household Income | $45,357 | $55,084 | $78,145 |
| Price-to-Income Ratio | 5.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Walthall County rose about 63.6%, while median household income rose about 43.2% 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 | Walthall County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.2% | 59.0% | 58.2% |
| Rental Rate | 16.3% | 25.9% | 31.3% |
| Vacancy Rate | 21.5% | 15.1% | 10.6% |
| Median Tenure (years) | 21.0 | 16.0 | 15.0 |
| Median Year Moved In | 2005 | 2010 | 2011 |
Walthall County has a homeownership rate of 62.2%, higher than the Mississippi average of 59.0%. Its housing vacancy rate is 21.5%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Walthall County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Walthall County was built around 1984. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Walthall County, Mississippi.
What is the median home price in Walthall County, Mississippi?
The median home price in Walthall County, Mississippi is $225,000, higher than the Mississippi average of $119,791.
What is the average home price in Walthall 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 Walthall County, Mississippi?
The median gross rent in Walthall County, Mississippi is $718 per month, lower than the Mississippi average of $923.
What was the median gross rent in Walthall County in 2020?
In 2020, the median gross rent in Walthall County, Mississippi was $584 per month.
What is the price-to-rent ratio in Walthall County, Mississippi?
The price-to-rent ratio in Walthall County, Mississippi is about 26.1, meaning it would take roughly 26.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Walthall County.
Are home prices or rent rising faster in Walthall County, Mississippi?
Both home prices and rent are rising in Walthall County, up about 22.3% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Walthall County, Mississippi?
62.2% of households in Walthall County, Mississippi own their home, higher than the Mississippi average of 59.0%.
What is the vacancy rate in Walthall County, Mississippi?
The housing vacancy rate in Walthall County, Mississippi is 21.5%, higher than the Mississippi average of 15.1%.