Brookhaven, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Brookhaven, 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

Brookhaven Housing Market Information

With a population of 12,414, 4,385 total housing units (homes and apartments), and a median house value of $96,521, house prices in Brookhaven are solidly below the national average.

Single-family detached homes are the single most common housing type in Brookhaven, accounting for 68.67% of the city's housing units. Other types of housing that are prevalent in Brookhaven include mobile homes or trailers ( 12.19%), duplexes, homes converted to apartments or other small apartment buildings ( 9.17%), and a few large apartment complexes or high rise apartments ( 8.45%).

The most prevalent building size and type in Brookhaven are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.61% owning and 43.39% renting.

There is a lot of housing in Brookhaven 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 Brookhaven built between 1940-1969 ( 31.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.02%). There's also some housing in Brookhaven built before 1939 ( 9.17%).

Vacant housing appears to be an issue in Brookhaven. Fully 14.99% of the housing stock is classified as vacant. Left unchecked, vacant Brookhaven homes and apartments can be a drag on the real estate market, holding Brookhaven 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.

Brookhaven Home Appreciation Rates

Appreciation rates for homes in Brookhaven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.87%, which ranks in the top 30% nationwide. This equates to an annual average Brookhaven house appreciation rate of 1.31%.

Over the last year, Brookhaven appreciation rates have trailed the rest of the nation. In the last twelve months, Brookhaven's appreciation rate has been 1.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Brookhaven were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Brookhaven's latest annual appreciation rate is lower than 80% 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 Brookhaven differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Brookhaven - 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 2000, to assist you in making the best Brookhaven real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$96,521

Brookhaven, MS HOME PRICES

Value Range
> $1,060,000 0.5
$795,001 - $1,060,000 0.0
$530,001 - $795,000 1.8
$424,001 - $530,000 1.6
$318,001 - $424,000 3.9
$212,001 - $318,000 7.3
$106,001 - $212,000 31.1
$53,001 - $106,000 33.9
$0 - $53,000 20.0

Average for MS
Low for Nation

Value Relative to Nation Value Relative to State
79.8195242001641 40.8163265306122

Number Of Homes And Apartments:
4,385

Brookhaven 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
45.01% 2.18% 7 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,231 / per month

Homeownership Rate

Homeownership
Owners 56.61
Renters 43.39
Vacant 14.99

Housing Market Details

 

Age of Homes

AGE OF Brookhaven HOMES
2000 or Newer 10.0
1970 - 1999 49.7
1940 - 1969 31.1
1939 or Older 9.2

Types of Homes

TYPE OF Brookhaven HOMES
Single-Family 68.7
Townhomes 1.5
Small Apt. Buildings 9.2
Apt. Complexes 8.5
Mobile Homes 12.2
Other 0.0

Home Size

SIZE OF Brookhaven HOMES
No Bedroom 2.31
1 Bedroom 5.39
2 Bedrooms 20.55
3 Bedrooms 61.52
4 Bedrooms 8.05
5 or more bedrooms 2.19

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Zip Codes in Brookhaven, MS