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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 2,488 people, 884 houses or apartments, and a median cost of homes of $90,195, the cost of homes in Mendenhall is among some of the lowest in the nation. Compared to Mississippi, however, Mendenhall real state is not on the lower end of the price spectrum.
Single-family detached homes are the single most common housing type in Mendenhall, accounting for 79.91% of the city's housing units. Other types of housing that are prevalent in Mendenhall include mobile homes or trailers ( 7.78%), large apartment complexes or high rise apartments ( 6.88%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.43%).
The most prevalent building size and type in Mendenhall are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.94% owning and 36.06% renting.
There is a lot of housing in Mendenhall 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 Mendenhall built between 1940-1969 ( 36.38%). A lesser amount of the housing stock also hails from before 1939 ( 10.77%). There's also some housing in Mendenhall built between 2000 and later ( 7.33%).
Vacant housing appears to be an issue in Mendenhall. Fully 20.00% of the housing stock is classified as vacant. Left unchecked, vacant Mendenhall homes and apartments can be a drag on the real estate market, holding Mendenhall 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.
In the last 10 years, Mendenhall has experienced some of the highest home appreciation rates of any community in the nation. Mendenhall real estate appreciated 18.08% over the last ten years, which is an average annual home appreciation rate of 1.68%, putting Mendenhall in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mendenhall definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Mendenhall appreciation rates have trailed the rest of the nation. In the last twelve months, Mendenhall's appreciation rate has been 1.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mendenhall were at -0.74%, which equates to an annual appreciation rate of -2.93%.
Notably, Mendenhall's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Mississippi, our data show that Mendenhall's latest annual appreciation rate is lower than 80% of the other cities and towns in Mississippi.
|$788,001 - $1,050,000||0.0|
|$525,001 - $788,000||0.1|
|$420,001 - $525,000||1.7|
|$315,001 - $420,000||0.1|
|$210,001 - $315,000||1.3|
|$105,001 - $210,000||36.3|
|$52,001 - $105,000||42.4|
|$0 - $52,000||18.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Mendenhall HOMES|
|2000 or Newer||7.3|
|1970 - 1999||45.5|
|1940 - 1969||36.4|
|1939 or Older||10.8|
|TYPE OF Mendenhall HOMES|
|Small Apt. Buildings||5.4|
|SIZE OF Mendenhall HOMES|
|5 or more bedrooms||2.17|