Grenada, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Grenada, 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

Grenada Housing Market Information

With a population of 12,900, 4,278 total housing units (homes and apartments), and a median house value of $105,798, house prices in Grenada are solidly below the national average.

Single-family detached homes are the single most common housing type in Grenada, accounting for 79.14% of the city's housing units. Other types of housing that are prevalent in Grenada include large apartment complexes or high rise apartments ( 9.43%), duplexes, homes converted to apartments or other small apartment buildings ( 7.68%), and a few mobile homes or trailers ( 2.48%).

The most prevalent building size and type in Grenada are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.89% owning and 36.11% renting.

There is a lot of housing in Grenada 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 Grenada built between 1940-1969 ( 36.03%). A lesser amount of the housing stock also hails from before 1939 ( 7.00%). There's also some housing in Grenada built between 2000 and later ( 6.91%).

Vacant housing appears to be an issue in Grenada. Fully 28.38% of the housing stock is classified as vacant. Left unchecked, vacant Grenada homes and apartments can be a drag on the real estate market, holding Grenada 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.

Grenada Home Appreciation Rates

Appreciation rates for homes in Grenada have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.50%, which ranks in the top 50% nationwide. This equates to an annual average Grenada house appreciation rate of 0.34%.

Over the last year, Grenada appreciation rates have trailed the rest of the nation. In the last twelve months, Grenada's appreciation rate has been 2.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grenada were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Grenada's latest annual appreciation rate is lower than 60% 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 Grenada differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grenada - 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 Grenada real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$105,798

Grenada, MS HOME PRICES

Value Range
> $1,057,000 0.4
$793,001 - $1,057,000 0.3
$529,001 - $793,000 0.1
$423,001 - $529,000 1.1
$317,001 - $423,000 3.7
$211,001 - $317,000 9.7
$106,001 - $211,000 27.8
$53,001 - $106,000 38.5
$0 - $53,000 18.3

High for MS
Low for Nation

Value Relative to Nation Value Relative to State
73.7431149654283 31.4285714285714

Number Of Homes And Apartments:
4,278

Grenada 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
25.16% 1.31% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$847 / per month

Homeownership Rate

Homeownership
Owners 63.89
Renters 36.11
Vacant 28.38

Housing Market Details

 

Age of Homes

AGE OF Grenada HOMES
2000 or Newer 6.9
1970 - 1999 50.1
1940 - 1969 36.0
1939 or Older 7.0

Types of Homes

TYPE OF Grenada HOMES
Single-Family 79.1
Townhomes 1.1
Small Apt. Buildings 7.7
Apt. Complexes 9.4
Mobile Homes 2.5
Other 0.2

Home Size

SIZE OF Grenada HOMES
No Bedroom 0.22
1 Bedroom 6.41
2 Bedrooms 21.83
3 Bedrooms 55.28
4 Bedrooms 11.90
5 or more bedrooms 4.35