Charleston, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Charleston, MS Real Estate Data


Charleston Housing Market Information

With a population of 2,048, 527 total housing units (homes and apartments), and a median house value of $72,126, house prices in Charleston are solidly below the national average.

Single-family detached homes are the single most common housing type in Charleston, accounting for 83.72% of the city's housing units. Other types of housing that are prevalent in Charleston include mobile homes or trailers ( 10.07%), duplexes, homes converted to apartments or other small apartment buildings ( 3.45%), and a few large apartment complexes or high rise apartments ( 1.93%).

The most prevalent building size and type in Charleston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.73% owning and 51.27% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Charleston's housing was primarily built during this period, from the '40s through the '60s. A full 42.21% of the city's housing hails from this era. Other housing ages represented in Charleston include homes built between 1970-1999 ( 36.28%) and housing constructed before 1939 ( 12.28%). There's also some housing in Charleston built between 2000 and later ( 9.24%).

Vacant housing appears to be an issue in Charleston. Fully 27.31% of the housing stock is classified as vacant. Left unchecked, vacant Charleston homes and apartments can be a drag on the real estate market, holding Charleston 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.

Charleston Home Appreciation Rates

In the last 10 years, Charleston has experienced some of the highest home appreciation rates of any community in the nation. Charleston real estate appreciated 22.79% over the last ten years, which is an average annual home appreciation rate of 2.07%, putting Charleston in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Charleston 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, Charleston's appreciation rate, at 3.97%, has been at or slightly above the national average. In the latest quarter, Charleston's appreciation rate has been 2.16%, which annualizes to a rate of 8.92%.

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

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

Average Home Values

 

Median Home Value:
$72,126

Charleston, MS HOME PRICES

Value Range
> $1,094,000 0.0
$821,001 - $1,094,000 0.0
$547,001 - $821,000 0.1
$438,001 - $547,000 0.0
$328,001 - $438,000 0.0
$219,001 - $328,000 4.0
$109,001 - $219,000 13.8
$55,001 - $109,000 41.5
$0 - $55,000 40.7

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
94.2634477909293 79.1836734693878

Number Of Homes And Apartments:
527

Rent & Ownership

 

Average Market Rent:
$600 / per month

Homeownership Rate

Homeownership
Owners 48.73
Renters 51.27
Vacant 27.31

Housing Market Details

 

Age of Homes

AGE OF Charleston HOMES
2000 or Newer 9.2
1970 - 1999 36.3
1940 - 1969 42.2
1939 or Older 12.3

Types of Homes

TYPE OF Charleston HOMES
Single-Family 83.7
Townhomes 0.8
Small Apt. Buildings 3.4
Apt. Complexes 1.9
Mobile Homes 10.1
Other 0.0

Home Size

SIZE OF Charleston HOMES
No Bedroom 4.55
1 Bedroom 6.21
2 Bedrooms 31.72
3 Bedrooms 45.79
4 Bedrooms 3.72
5 or more bedrooms 8.00

Charleston 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
57.10% 2.65% 9 7
* 10 is highest

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