Hernando, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hernando, 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

Hernando Housing Market Information

With 15,503 people, 5,574 houses or apartments, and a median cost of homes of $185,221, Hernando real estate is some of the most expensive in Mississippi, although Hernando home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Hernando, accounting for 81.14% of the city's housing units. Other types of housing that are prevalent in Hernando include large apartment complexes or high rise apartments ( 5.30%), mobile homes or trailers ( 5.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hernando. Owner-occupied housing accounts for 78.79% of Hernando's homes, and 78.96% have either three or four bedrooms, which is average sized relative to America.

Hernando homes and real estate are some of the newest in America. 49.79% of Hernando's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Hernando real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.41%), and between 1940-1969 ( 8.91%). There's also some housing in Hernando built before 1939 ( 2.89%).

Hernando Home Appreciation Rates

Real estate appreciation rates in Hernando's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.06% during the period.

NeighborhoodScout's data show that during the latest twelve months, Hernando's appreciation rate, at 3.38%, has been at or slightly above the national average. In the latest quarter, Hernando's appreciation rate has been 0.35%, which annualizes to a rate of 1.41%.

Relative to Mississippi, our data show that Hernando's latest annual appreciation rate is higher than 50% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$185,221

Hernando, MS HOME PRICES

Value Range
> $1,113,000 0.5
$835,001 - $1,113,000 0.3
$557,001 - $835,000 0.6
$446,001 - $557,000 1.6
$334,001 - $446,000 7.2
$223,001 - $334,000 23.2
$111,001 - $223,000 50.3
$56,001 - $111,000 9.6
$0 - $56,000 6.7

Very High for MS
High for Nation

Value Relative to Nation Value Relative to State
36.3588421422712 2.85714285714286

Number Of Homes And Apartments:
5,574

Hernando 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
22.82% 1.20% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,071 / per month

Homeownership Rate

Homeownership
Owners 78.79
Renters 21.21
Vacant 2.42

Housing Market Details

 

Age of Homes

AGE OF Hernando HOMES
2000 or Newer 49.8
1970 - 1999 38.4
1940 - 1969 8.9
1939 or Older 2.9

Types of Homes

TYPE OF Hernando HOMES
Single-Family 81.1
Townhomes 4.0
Small Apt. Buildings 4.5
Apt. Complexes 5.3
Mobile Homes 5.1
Other 0.0

Home Size

SIZE OF Hernando HOMES
No Bedroom 1.17
1 Bedroom 4.27
2 Bedrooms 11.57
3 Bedrooms 50.74
4 Bedrooms 28.22
5 or more bedrooms 4.03

Popular Neighborhoods in Hernando

Zip Codes in Hernando, MS