Ocean Springs appreciation rates and housing market information

Ocean Springs housing market information

With 17,217 people, 7,092 houses or apartments, and a median cost of homes of $190,340, Ocean Springs real estate is some of the most expensive in Mississippi, although Ocean Springs home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Ocean Springs, accounting for 80.50% of the city's housing units. Other types of housing that are prevalent in Ocean Springs include large apartment complexes or high rise apartments (10.97%), mobile homes or trailers (3.67%), duplexes, homes converted to apartments, or other small apartment buildings (3.57%), and a few row houses and other attached homes (1.30%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Ocean Springs. Owner-occupied housing accounts for 67.77% of Ocean Springs's homes, and 71.43% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Ocean Springs 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 Ocean Springs built from 1940-1969 (31.87%). A lesser amount of the housing stock also hails from 1995 and later (11.83%), and some were built from 1939 and earlier (11.83%).

Ocean Springs home appreciation rates

Appreciation rates for homes in Ocean Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 79.81%, which ranks in the top 40% nationwide. This equates to an annual average Ocean Springs house appreciation rate of 7.98%.

NeighborhoodScout's data show that during the latest twelve months, Ocean Springs home appreciation rates, at -0.39%, have been at or slightly above the national average. In the latest quarter, Ocean Springs's appreciation rate has been 0.92%, which annualizes to a rate of 3.68%.

Relative to Mississippi, our data show that Ocean Springs's latest annual appreciation rate is higher than 15% 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 Ocean Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ocean Springs - 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 Ocean Springs real estate investment or home purchase decisions.