Magee, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Magee, MS Real Estate Data


Magee Housing Market Information

With a population of 4,368, 1,354 total housing units (homes and apartments), and a median house value of $104,364, 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

In the last 10 years, Magee has experienced some of the highest home appreciation rates of any community in the nation. Magee real estate appreciated 18.72% over the last ten years, which is an average annual home appreciation rate of 1.73%, putting Magee in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Magee definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Magee that despite a nationwide downturn in the housing market, Magee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Magee appreciation rates continue to be some of the highest in America, at 6.79%, which is higher than appreciation rates in 78.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Magee. Magee appreciation rates in the latest quarter were at 2.80%, which equates to an annual appreciation rate of 11.69%.

Importantly, this makes Magee one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Mississippi, our data show that Magee's latest annual appreciation rate is higher than 80% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$104,364

Magee, MS HOME PRICES

Value Range
> $1,106,000 0.4
$829,001 - $1,106,000 0.0
$553,001 - $829,000 0.0
$442,001 - $553,000 0.6
$332,001 - $442,000 3.1
$221,001 - $332,000 8.4
$111,001 - $221,000 29.1
$55,001 - $111,000 38.4
$0 - $55,000 19.9

High for MS
Low for Nation

Value Relative to Nation Value Relative to State
74.6161959451541 33.0612244897959

Number Of Homes And Apartments:
1,354

Rent & Ownership

 

Average Market Rent:
$778 / 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

Magee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
49.19% 2.35% 8 6
* 10 is highest

Popular Neighborhoods in Magee

Zip Codes in Magee, MS