Bruce, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bruce, MS Real Estate Data


Bruce Housing Market Information

With 1,906 people, 783 houses or apartments, and a median cost of homes of $67,665, house prices in Bruce are some of the most affordable in Mississippi as well as the nation.

Single-family detached homes are the single most common housing type in Bruce, accounting for 71.44% of the town's housing units. Other types of housing that are prevalent in Bruce include duplexes, homes converted to apartments or other small apartment buildings ( 11.36%), mobile homes or trailers ( 10.40%), and a few large apartment complexes or high rise apartments ( 5.94%).

The most prevalent building size and type in Bruce are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.35% owning and 44.65% renting.

There is a lot of housing in Bruce 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 Bruce built between 1940-1969 ( 38.11%). A lesser amount of the housing stock also hails from before 1939 ( 5.73%). There's also some housing in Bruce built between 2000 and later ( 4.46%).

Vacant housing appears to be an issue in Bruce. Fully 16.88% of the housing stock is classified as vacant. Left unchecked, vacant Bruce homes and apartments can be a drag on the real estate market, holding Bruce 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.

Bruce Home Appreciation Rates

In the last 10 years, Bruce has experienced some of the highest home appreciation rates of any community in the nation. Bruce real estate appreciated 18.04% over the last ten years, which is an average annual home appreciation rate of 1.67%, putting Bruce in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bruce definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Bruce's appreciation rate, at 3.45%, has been at or slightly above the national average. In the latest quarter, Bruce's appreciation rate has been 2.08%, which annualizes to a rate of 8.57%.

Importantly, this makes Bruce one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Mississippi, our data show that Bruce's latest annual appreciation rate is higher than 50% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$67,665

Bruce, MS HOME PRICES

Value Range
> $1,087,000 0.0
$815,001 - $1,087,000 0.0
$544,001 - $815,000 0.3
$435,001 - $544,000 0.0
$326,001 - $435,000 0.1
$217,001 - $326,000 5.0
$109,001 - $217,000 7.7
$54,001 - $109,000 52.0
$0 - $54,000 34.7

Very Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
96.0623461853979 86.9387755102041

Number Of Homes And Apartments:
783

Rent & Ownership

 

Average Market Rent:
$636 / per month

Homeownership Rate

Homeownership
Owners 55.35
Renters 44.65
Vacant 16.88

Housing Market Details

 

Age of Homes

AGE OF Bruce HOMES
2000 or Newer 4.5
1970 - 1999 51.7
1940 - 1969 38.1
1939 or Older 5.7

Types of Homes

TYPE OF Bruce HOMES
Single-Family 71.4
Townhomes 0.8
Small Apt. Buildings 11.4
Apt. Complexes 5.9
Mobile Homes 10.4
Other 0.0

Home Size

SIZE OF Bruce HOMES
No Bedroom 0.00
1 Bedroom 8.07
2 Bedrooms 29.94
3 Bedrooms 50.53
4 Bedrooms 10.93
5 or more bedrooms 0.53

Bruce Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
53.45% 2.51% 9 7
* 10 is highest

Popular Neighborhoods in Bruce

Zip Codes in Bruce, MS