Booneville, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Booneville, 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

Booneville Housing Market Information

With a population of 8,816, 2,802 total housing units (homes and apartments), and a median house value of $108,957, house prices in Booneville are solidly below the national average.

Single-family detached homes are the single most common housing type in Booneville, accounting for 77.11% of the city's housing units. Other types of housing that are prevalent in Booneville include duplexes, homes converted to apartments or other small apartment buildings ( 8.73%), large apartment complexes or high rise apartments ( 8.00%), and a few mobile homes or trailers ( 6.15%).

The most prevalent building size and type in Booneville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.56% owning and 44.44% renting.

There is a lot of housing in Booneville 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 Booneville built between 1940-1969 ( 26.36%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.01%). There's also some housing in Booneville built before 1939 ( 8.58%).

Vacant housing appears to be an issue in Booneville. Fully 10.68% of the housing stock is classified as vacant. Left unchecked, vacant Booneville homes and apartments can be a drag on the real estate market, holding Booneville 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.

Booneville Home Appreciation Rates

In the last 10 years, Booneville has experienced some of the highest home appreciation rates of any community in the nation. Booneville real estate appreciated 18.45% over the last ten years, which is an average annual home appreciation rate of 1.71%, putting Booneville in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Booneville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Booneville that despite a nationwide downturn in the housing market, Booneville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Booneville appreciation rates continue to be some of the highest in America, at 10.41%, which is higher than appreciation rates in 94.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Booneville. Booneville appreciation rates in the latest quarter were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Booneville's latest annual appreciation rate is higher than 90% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$108,957

Booneville, MS HOME PRICES

Value Range
> $1,174,000 0.0
$881,001 - $1,174,000 0.0
$587,001 - $881,000 0.2
$470,001 - $587,000 0.0
$352,001 - $470,000 0.5
$235,001 - $352,000 4.0
$117,001 - $235,000 34.2
$59,001 - $117,000 45.0
$0 - $59,000 16.2

High for MS
Low for Nation

Value Relative to Nation Value Relative to State
71.9852337981953 28.9795918367347

Number Of Homes And Apartments:
2,802

Booneville 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
42.10% 2.06% 6 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$846 / per month

Homeownership Rate

Homeownership
Owners 55.56
Renters 44.44
Vacant 10.68

Housing Market Details

 

Age of Homes

AGE OF Booneville HOMES
2000 or Newer 15.0
1970 - 1999 50.0
1940 - 1969 26.4
1939 or Older 8.6

Types of Homes

TYPE OF Booneville HOMES
Single-Family 77.1
Townhomes 0.0
Small Apt. Buildings 8.7
Apt. Complexes 8.0
Mobile Homes 6.2
Other 0.0

Home Size

SIZE OF Booneville HOMES
No Bedroom 4.18
1 Bedroom 6.18
2 Bedrooms 23.72
3 Bedrooms 48.58
4 Bedrooms 13.45
5 or more bedrooms 3.89

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Zip Codes in Booneville, MS