menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Grenada, MS Real Estate Market

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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Grenada, MS Housing Market Trends

With a population of 12,302, 5,227 total housing units (homes and apartments), and a median house value of $172,592, 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 76.10% of the city's housing units. Other types of housing that are prevalent in Grenada include duplexes, homes converted to apartments or other small apartment buildings ( 11.68%), large apartment complexes or high rise apartments ( 8.19%), and a few mobile homes or trailers ( 3.46%).

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 60.51% owning and 39.49% 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 ( 31.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.39%). There's also some housing in Grenada built before 1939 ( 5.71%).

Vacant housing appears to be an issue in Grenada. Fully 17.83% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Grenada, where house values have increased just 39.83%, which is annualized rate of 3.41%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Grenada's appreciation rate, at 4.90%, has been at or slightly above the national average. In the latest quarter, Grenada's appreciation rate has been 2.18%, which annualizes to a rate of 9.02%.

Relative to Mississippi, our data show that Grenada's latest annual appreciation rate is higher 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

$172,592

Grenada, MS Home Prices
> $1,419,000
$1,064,001 - $1,419,000
$709,001 - $1,064,000
$567,001 - $709,000
$426,001 - $567,000
$284,001 - $426,000
$142,001 - $284,000
$71,001 - $142,000
$0 - $71,000
1.0%
1.0%
0.0%
0.0%
1.6%
1.6%
0.3%
0.3%
1.5%
1.5%
11.2%
11.2%
32.0%
32.0%
34.5%
34.5%
17.9%
17.9%
0% 100.0%
% of Homes
High

for Mississippi

Low

for nation

Number of Homes And Apartments:

5,227

Grenada Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,320 / per month

Homeownership Rate

Owners
Renters
Vacant
60.5%
60.5%
39.5%
39.5%
17.8%
17.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.4%
12.4%
50.6%
50.6%
31.3%
31.3%
5.7%
5.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.1%
76.1%
0.6%
0.6%
11.7%
11.7%
8.2%
8.2%
3.5%
3.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.8%
0.8%
7.4%
7.4%
24.7%
24.7%
52.4%
52.4%
12.3%
12.3%
2.4%
2.4%
0% 100.0%
% of Homes