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 | Wilkinson County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $6,817 | $119,791 | $242,182 |
| Price Trend (Annual %) | 11.7% | 5.1% | 8.2% |
| Median Gross Rent | $674 | $923 | $1,342 |
| Rent Trend (Annual %) | 7.7% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wilkinson County is about 94% lower than in Mississippi. Rent is about 27% 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 Wilkinson County, up about 11.7% and 7.7% a year respectively. Home prices are changing faster.
Median rent in Wilkinson County rose about 31.4% between 2015 and 2023, from $513 to $674. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 0.2 yearly household incomes in Wilkinson County.
Buying the median-priced home in Wilkinson County costs roughly 0.8 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 Wilkinson County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Wilkinson County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $6,817 | $119,791 | $242,182 |
| Median Household Income | $36,659 | $55,084 | $78,145 |
| Price-to-Income Ratio | 0.2 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wilkinson County fell about 28.2%, while median household income rose about 44.4% 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 | Wilkinson County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.0% | 59.0% | 58.2% |
| Rental Rate | 15.7% | 25.9% | 31.3% |
| Vacancy Rate | 25.3% | 15.1% | 10.6% |
| Median Tenure (years) | 21.0 | 16.0 | 15.0 |
| Median Year Moved In | 2005 | 2010 | 2011 |
Wilkinson County has a homeownership rate of 59.0%, about the same as the Mississippi average of 59.0%. Its housing vacancy rate is 25.3%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Wilkinson County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.10 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Wilkinson County was built around 1984. On average, 2.1 people live in a home with about 5.4 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wilkinson County, Mississippi.
What is the median home price in Wilkinson County, Mississippi?
The median home price in Wilkinson County, Mississippi is $6,817, lower than the Mississippi average of $119,791.
What is the average home price in Wilkinson 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 Wilkinson County, Mississippi?
The median gross rent in Wilkinson County, Mississippi is $674 per month, lower than the Mississippi average of $923.
What was the median gross rent in Wilkinson County in 2020?
In 2020, the median gross rent in Wilkinson County, Mississippi was $439 per month.
What is the price-to-rent ratio in Wilkinson County, Mississippi?
The price-to-rent ratio in Wilkinson County, Mississippi is about 0.8, meaning it would take roughly 0.8 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 Wilkinson County.
Are home prices or rent rising faster in Wilkinson County, Mississippi?
Both home prices and rent are rising in Wilkinson County, up about 11.7% and 7.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wilkinson County, Mississippi?
59.0% of households in Wilkinson County, Mississippi own their home, about the same as the Mississippi average.
What is the vacancy rate in Wilkinson County, Mississippi?
The housing vacancy rate in Wilkinson County, Mississippi is 25.3%, higher than the Mississippi average of 15.1%.