Magee, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Magee, 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

Magee Housing Market Information

With 4,368 people, 1,354 houses or apartments, and a median cost of homes of $103,102, house prices in Magee are solidly below the national average.

Single-family detached homes are the single most common housing type in Magee, accounting for 67.83% of the city's housing units. Other types of housing that are prevalent in Magee include large apartment complexes or high rise apartments ( 13.90%), duplexes, homes converted to apartments or other small apartment buildings ( 10.85%), and a few mobile homes or trailers ( 7.42%).

The most prevalent building size and type in Magee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.67% owning and 52.33% renting.

There is a lot of housing in Magee 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 Magee built between 1940-1969 ( 28.74%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.46%). There's also some housing in Magee built before 1939 ( 4.80%).

Vacant housing appears to be an issue in Magee. Fully 15.59% of the housing stock is classified as vacant. Left unchecked, vacant Magee homes and apartments can be a drag on the real estate market, holding Magee 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.

Magee Home Appreciation Rates

Appreciation rates for homes in Magee have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.77%, which ranks in the top 30% nationwide. This equates to an annual average Magee house appreciation rate of 1.39%.

NeighborhoodScout's data show that during the latest twelve months, Magee's appreciation rate, at 3.87%, has been at or slightly above the national average. In the latest quarter, Magee's appreciation rate has been -0.74%, which annualizes to a rate of -2.93%.

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

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

Average Home Values

 

Median Home Value:
$103,102

Magee, MS HOME PRICES

Value Range
> $1,092,000 0.4
$819,001 - $1,092,000 0.0
$546,001 - $819,000 0.0
$437,001 - $546,000 0.6
$328,001 - $437,000 3.1
$218,001 - $328,000 8.4
$109,001 - $218,000 29.1
$55,001 - $109,000 38.4
$0 - $55,000 19.9

High for MS
Low for Nation

Value Relative to Nation Value Relative to State
75.5888901910231 34.6938775510204

Number Of Homes And Apartments:
1,354

Magee 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
46.99% 2.26% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$801 / per month

Homeownership Rate

Homeownership
Owners 47.67
Renters 52.33
Vacant 15.59

Housing Market Details

 

Age of Homes

AGE OF Magee HOMES
2000 or Newer 17.5
1970 - 1999 49.0
1940 - 1969 28.7
1939 or Older 4.8

Types of Homes

TYPE OF Magee HOMES
Single-Family 67.8
Townhomes 0.0
Small Apt. Buildings 10.8
Apt. Complexes 13.9
Mobile Homes 7.4
Other 0.0

Home Size

SIZE OF Magee HOMES
No Bedroom 2.12
1 Bedroom 1.43
2 Bedrooms 37.59
3 Bedrooms 50.94
4 Bedrooms 7.92
5 or more bedrooms 0.00

Popular Neighborhoods in Magee

Zip Codes in Magee, MS