Hattiesburg appreciation rates and housing market information
Hattiesburg housing market information
With a population of 46,626, 18,501 total housing units (homes and apartments), and a median house value of $99,489, house prices in Hattiesburg are solidly below the national average.
Single-family detached homes are the single most common housing type in Hattiesburg, accounting for 51.42% of the city's housing units. Other types of housing that are prevalent in Hattiesburg include large apartment complexes or high rise apartments (32.35%), duplexes, homes converted to apartments or other small apartment buildings (12.55%), and a few mobile homes or trailers (2.62%).
People in Hattiesburg primarily live in small (one, two or no bedroom) single-family detached homes. Hattiesburg has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Hattiesburg built from 1970 to 1999 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 Hattiesburg built between 1940-1969 (33.79%). A lesser amount of the housing stock also hails from between 2000 and later (18.83%). There's also some housing in Hattiesburg built before 1939 (8.83%).
Vacant housing appears to be an issue in Hattiesburg. Fully 13.73% of the housing stock is classified as vacant. Left unchecked, vacant Hattiesburg homes and apartments can be a drag on the real estate market, holding Hattiesburg 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.
Hattiesburg home appreciation rates
Hattiesburg's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hattiesburg during the period has been just -2.04%, which is lower than 80% of US communities.
Over the last year, Hattiesburg appreciation rates have trailed the rest of the nation. In the last twelve months, Hattiesburg's appreciation rate has been -3.81%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hattiesburg were at -0.64%, which equates to an annual appreciation rate of -2.52%.
Relative to Mississippi, our data show that Hattiesburg's latest annual appreciation rate is lower than 90% 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 Hattiesburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hattiesburg - 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 Hattiesburg real estate investment or home purchase decisions.