Southaven appreciation rates and housing market information

Southaven housing market information

With 29,086 people, 11,486 houses or apartments, and a median cost of homes of $133,397, Southaven real estate is some of the most expensive in Mississippi, although Southaven home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Southaven, accounting for 74.53% of the city's housing units. Other types of housing that are prevalent in Southaven include large apartment complexes or high rise apartments (13.40%), duplexes, homes converted to apartments, or other small apartment buildings (5.39%), mobile homes or trailers (4.07%), and a few row houses and other attached homes (2.61%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Southaven. Owner-occupied housing accounts for 69.51% of Southaven's homes, and 70.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Southaven 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 Southaven built from 1995 and later (26.65%). A lesser amount of the housing stock also hails from 1940-1969 (19.08%), and some were built from 1939 and earlier (19.08%).

Southaven home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Southaven, where house values have increased just 34.39%, which is an average annual increase of 3.43%. NeighborhoodScout's data show that in the latest quarter, Southaven house values appreciated 1.55%, which is an annualized rate of 6.20%. This rate is lower than the appreciation rate found in 20% of the cities and towns in America.

Over the last year, Southaven appreciation rates have trailed the rest of the nation. In the last twelve months, Southaven's appreciation rate has been -0.43%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Southaven were at 1.55%, which equates to an annual appreciation rate of 6.20%.

Relative to Mississippi, our data show that Southaven's latest annual appreciation rate is higher than 14% of the other cities and towns in Mississippi.