Bay Springs, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bay Springs, MS Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bay Springs Housing Market Information

With 1,738 people, 773 houses or apartments, and a median cost of homes of $79,759, house prices in Bay Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Bay Springs, accounting for 70.52% of the city's housing units. Other types of housing that are prevalent in Bay Springs include mobile homes or trailers ( 12.81%), duplexes, homes converted to apartments or other small apartment buildings ( 9.41%), and a few large apartment complexes or high rise apartments ( 6.58%).

The most prevalent building size and type in Bay Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.69% owning and 39.31% renting.

There is a lot of housing in Bay Springs 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 Bay Springs built between 1940-1969 ( 34.01%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.38%). There's also some housing in Bay Springs built before 1939 ( 3.74%).

Vacant housing appears to be an issue in Bay Springs. Fully 12.36% of the housing stock is classified as vacant. Left unchecked, vacant Bay Springs homes and apartments can be a drag on the real estate market, holding Bay Springs 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.

Bay Springs Home Appreciation Rates

Appreciation rates for homes in Bay 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 6.26%, which ranks in the top 40% nationwide. This equates to an annual average Bay Springs house appreciation rate of 0.61%.

Over the last year, Bay Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Bay Springs's appreciation rate has been 2.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bay Springs were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Bay Springs's latest annual appreciation rate is lower than 60% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$79,759

Bay Springs, MS HOME PRICES

Value Range
> $1,072,000 0.0
$804,001 - $1,072,000 0.7
$536,001 - $804,000 0.0
$428,001 - $536,000 3.4
$322,001 - $428,000 1.4
$214,001 - $322,000 6.8
$107,001 - $214,000 22.4
$54,001 - $107,000 49.0
$0 - $54,000 16.3

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
90.7066682292277 65.7142857142857

Number Of Homes And Apartments:
773

Bay Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
42.61% 2.08% 6 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,936 / per month

Homeownership Rate

Homeownership
Owners 60.69
Renters 39.31
Vacant 12.36

Housing Market Details

 

Age of Homes

AGE OF Bay Springs HOMES
2000 or Newer 13.4
1970 - 1999 48.9
1940 - 1969 34.0
1939 or Older 3.7

Types of Homes

TYPE OF Bay Springs HOMES
Single-Family 70.5
Townhomes 0.7
Small Apt. Buildings 9.4
Apt. Complexes 6.6
Mobile Homes 12.8
Other 0.0

Home Size

SIZE OF Bay Springs HOMES
No Bedroom 7.03
1 Bedroom 7.60
2 Bedrooms 21.66
3 Bedrooms 44.22
4 Bedrooms 16.33
5 or more bedrooms 3.17

Popular Neighborhoods in Bay Springs

Zip Codes in Bay Springs, MS