Forest, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Forest Neighborhoods Since 2000




Forest, 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

Forest Housing Market Information

With a population of 5,695, 2,011 total housing units (homes and apartments), and a median house value of $83,167, the cost of homes in Forest is among some of the lowest in the nation. Compared to Mississippi, however, Forest real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Forest, accounting for 64.78% of the city's housing units. Other types of housing that are prevalent in Forest include duplexes, homes converted to apartments or other small apartment buildings ( 13.32%), large apartment complexes or high rise apartments ( 10.04%), and a few mobile homes or trailers ( 9.42%).

The most prevalent building size and type in Forest are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.52% owning and 51.48% renting.

There is a lot of housing in Forest 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 Forest built between 1940-1969 ( 36.28%). A lesser amount of the housing stock also hails from before 1939 ( 6.42%). There's also some housing in Forest built between 2000 and later ( 5.13%).

Vacant housing appears to be an issue in Forest. Fully 11.02% of the housing stock is classified as vacant. Left unchecked, vacant Forest homes and apartments can be a drag on the real estate market, holding Forest 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.

Forest Home Appreciation Rates

In the last 10 years, Forest has experienced some of the highest home appreciation rates of any community in the nation. Forest real estate appreciated 16.94% over the last ten years, which is an average annual home appreciation rate of 1.58%, putting Forest in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Forest definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Forest appreciation rates have trailed the rest of the nation. In the last twelve months, Forest's appreciation rate has been 2.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forest were at 0.54%, which equates to an annual appreciation rate of 2.17%.

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

Average Home Values

 

Median Home Value:
$83,167

Forest, MS HOME PRICES

Value Range
> $1,067,000 0.4
$801,001 - $1,067,000 0.0
$534,001 - $801,000 0.0
$427,001 - $534,000 0.0
$320,001 - $427,000 2.9
$214,001 - $320,000 7.2
$107,001 - $214,000 26.5
$53,001 - $107,000 37.5
$0 - $53,000 25.4

Average for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
88.5093167701863 60.0

Number Of Homes And Apartments:
2,011

Forest 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
36.93% 1.84% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$927 / per month

Homeownership Rate

Homeownership
Owners 48.52
Renters 51.48
Vacant 11.02

Housing Market Details

 

Age of Homes

AGE OF Forest HOMES
2000 or Newer 5.1
1970 - 1999 52.2
1940 - 1969 36.3
1939 or Older 6.4

Types of Homes

TYPE OF Forest HOMES
Single-Family 64.8
Townhomes 2.4
Small Apt. Buildings 13.3
Apt. Complexes 10.0
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF Forest HOMES
No Bedroom 0.00
1 Bedroom 10.84
2 Bedrooms 27.43
3 Bedrooms 42.52
4 Bedrooms 16.90
5 or more bedrooms 2.30

Popular Neighborhoods in Forest

Popular Communities Near Forest, MS

Zip Codes in Forest, MS