Biloxi appreciation rates and housing market information

Biloxi housing market information

With a population of 50,713, 22,147 total housing units (homes and apartments), and a median house value of $165,712, Biloxi real estate is some of the most expensive in Mississippi, although Biloxi home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Biloxi, accounting for 53.92% of the city's housing units. Other types of housing that are prevalent in Biloxi include large apartment complexes or high rise apartments (22.54%), duplexes, homes converted to apartments, or other small apartment buildings (9.75%), mobile homes or trailers (7.99%), and a few row houses and other attached homes (5.64%).

People in Biloxi primarily live in small (one, two, or no bedroom) single-family detached homes. Biloxi has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Biloxi built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Biloxi built from 1940-1969 (39.69%). A lesser amount of the housing stock also hails from 1995 and later (10.63%), and some were built from 1939 and earlier (10.63%).

Vacant housing appears to be an issue in Biloxi. Fully 11.42% of the housing stock is classified as vacant. Left unchecked, vacant Biloxi homes and apartments can be a drag on the real estate market, holding Biloxi real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Biloxi home appreciation rates

Appreciation rates for homes in Biloxi have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 78.02%, which ranks in the top 40% nationwide. This equates to an annual average Biloxi house appreciation rate of 7.80%.

Over the last year, Biloxi appreciation rates have trailed the rest of the nation. In the last twelve months, Biloxi's appreciation rate has been -3.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Biloxi were at 1.82%, which equates to an annual appreciation rate of 7.28%.

Importantly, this makes Biloxi one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Mississippi, our data show that Biloxi's latest annual appreciation rate is higher than 3% of the other cities and towns in Mississippi.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Biloxi differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Biloxi - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Biloxi real estate investment or home purchase decisions.