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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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 12,471 people, 5,193 houses or apartments, and a median cost of homes of $146,464, the cost of homes in Grenada is among some of the lowest in the nation. Compared to Mississippi, however, Grenada real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Grenada, accounting for 77.45% 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 ( 12.34%), large apartment complexes or high rise apartments ( 5.91%), and a few mobile homes or trailers ( 3.67%).

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 57.08% owning and 42.92% 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 ( 29.32%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.10%). There's also some housing in Grenada built before 1939 ( 4.49%).

Vacant housing appears to be an issue in Grenada. Fully 16.77% 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 27.87%, which is annualized rate of 2.49%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

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 9.45%, 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 2.19%, which equates to an annual appreciation rate of 9.07%.

Notably, Grenada's appreciation rate in the latest quarter is one of the lowest in America.

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:
$146,464

Grenada, MS HOME PRICES

> $1,258,000
$943,001 - $1,258,000
$629,001 - $943,000
$503,001 - $629,000
$377,001 - $503,000
$251,001 - $377,000
$126,001 - $251,000
$63,001 - $126,000
$0 - $63,000
0.9%
0.9%
0.0%
0.0%
2.1%
2.1%
0.5%
0.5%
1.7%
1.7%
12.8%
12.8%
29.7%
29.7%
38.6%
38.6%
13.7%
13.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Average for MS

Value Relative To Nation

Number Of Homes And Apartments:
5,193

Grenada Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
53.53% 1.90%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,151 / per month

Homeownership Rate

Owners
Renters
Vacant
57.1%
57.1%
42.9%
42.9%
16.8%
16.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.1%
10.1%
56.1%
56.1%
29.3%
29.3%
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.4%
77.4%
0.6%
0.6%
12.3%
12.3%
5.9%
5.9%
3.7%
3.7%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
6.8%
6.8%
21.9%
21.9%
56.7%
56.7%
10.2%
10.2%
3.4%
3.4%
0.0% 100.0%
% OF HOMES