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 | Yalobusha County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,058 | $119,791 | $242,182 |
| Price Trend (Annual %) | 45.9% | 5.1% | 8.2% |
| Median Gross Rent | $810 | $923 | $1,342 |
| Rent Trend (Annual %) | 7.2% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Yalobusha County is about 36% lower than in Mississippi. Rent is about 12% 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 Yalobusha County, up about 45.9% and 7.2% a year respectively. Home prices are changing faster.
Median rent in Yalobusha County rose about 72.4% between 2015 and 2023, from $470 to $810. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Yalobusha County.
Buying the median-priced home in Yalobusha County costs roughly 7.9 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 Yalobusha County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Yalobusha County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,058 | $119,791 | $242,182 |
| Median Household Income | $49,394 | $55,084 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Yalobusha County rose about 20.5%, while median household income rose about 72.3% 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 | Yalobusha County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.7% | 59.0% | 58.2% |
| Rental Rate | 23.1% | 25.9% | 31.3% |
| Vacancy Rate | 22.2% | 15.1% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Yalobusha County has a homeownership rate of 54.7%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 22.2%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Yalobusha County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1982 | 1985 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Yalobusha County was built around 1982. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Yalobusha County, Mississippi.
What is the median home price in Yalobusha County, Mississippi?
The median home price in Yalobusha County, Mississippi is $77,058, lower than the Mississippi average of $119,791.
What is the average home price in Yalobusha 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 Yalobusha County, Mississippi?
The median gross rent in Yalobusha County, Mississippi is $810 per month, lower than the Mississippi average of $923.
What was the median gross rent in Yalobusha County in 2020?
In 2020, the median gross rent in Yalobusha County, Mississippi was $674 per month.
What is the price-to-rent ratio in Yalobusha County, Mississippi?
The price-to-rent ratio in Yalobusha County, Mississippi is about 7.9, meaning it would take roughly 7.9 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 Yalobusha County.
Are home prices or rent rising faster in Yalobusha County, Mississippi?
Both home prices and rent are rising in Yalobusha County, up about 45.9% and 7.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Yalobusha County, Mississippi?
54.7% of households in Yalobusha County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Yalobusha County, Mississippi?
The housing vacancy rate in Yalobusha County, Mississippi is 22.2%, higher than the Mississippi average of 15.1%.