Fayette, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Fayette Neighborhoods Since 2000




Fayette, 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

Fayette Housing Market Information

With 1,577 people, 594 houses or apartments, and a median cost of homes of $56,352, house prices in Fayette 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 Fayette, accounting for 58.38% of the city's housing units. Other types of housing that are prevalent in Fayette include duplexes, homes converted to apartments or other small apartment buildings ( 28.44%), mobile homes or trailers ( 11.68%), and a few large apartment complexes or high rise apartments ( 1.50%).

The most prevalent building size and type in Fayette are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.34% owning and 49.66% renting.

There is a lot of housing in Fayette 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 Fayette built between 1940-1969 ( 15.42%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.19%).

Vacant housing appears to be an issue in Fayette. Fully 11.08% of the housing stock is classified as vacant. Left unchecked, vacant Fayette homes and apartments can be a drag on the real estate market, holding Fayette 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.

Fayette Home Appreciation Rates

Real estate appreciation rates in Fayette's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.34% during the period.

Over the last year, Fayette appreciation rates have trailed the rest of the nation. In the last twelve months, Fayette's appreciation rate has been 2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fayette were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Fayette's latest annual appreciation rate is lower than 70% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$56,352

Fayette, MS HOME PRICES

Value Range
> $1,053,000 0.4
$790,001 - $1,053,000 0.0
$527,001 - $790,000 0.1
$421,001 - $527,000 0.0
$316,001 - $421,000 0.4
$211,001 - $316,000 7.4
$105,001 - $211,000 11.4
$53,001 - $105,000 39.8
$0 - $53,000 40.4

Very Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
98.634712293449 97.1428571428571

Number Of Homes And Apartments:
594

Fayette 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
37.20% 1.85% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$848 / per month

Homeownership Rate

Homeownership
Owners 50.34
Renters 49.66
Vacant 11.08

Housing Market Details

 

Age of Homes

AGE OF Fayette HOMES
2000 or Newer 7.2
1970 - 1999 76.6
1940 - 1969 15.4
1939 or Older 0.7

Types of Homes

TYPE OF Fayette HOMES
Single-Family 58.4
Townhomes 0.0
Small Apt. Buildings 28.4
Apt. Complexes 1.5
Mobile Homes 11.7
Other 0.0

Home Size

SIZE OF Fayette HOMES
No Bedroom 0.00
1 Bedroom 6.59
2 Bedrooms 17.96
3 Bedrooms 64.22
4 Bedrooms 10.78
5 or more bedrooms 0.45

Popular Neighborhoods in Fayette

Popular Communities Near Fayette, MS

Zip Codes in Fayette, MS