New Albany, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating New Albany Neighborhoods Since 2000




New Albany, 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

New Albany Housing Market Information

With a population of 8,830, 3,108 total housing units (homes and apartments), and a median house value of $149,747, New Albany real estate is some of the most expensive in Mississippi, although New Albany home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in New Albany, accounting for 81.26% of the city's housing units. Other types of housing that are prevalent in New Albany include large apartment complexes or high rise apartments ( 8.20%), duplexes, homes converted to apartments or other small apartment buildings ( 6.39%), and a few mobile homes or trailers ( 2.34%).

The most prevalent building size and type in New Albany are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.34% owning and 46.66% renting.

There is a lot of housing in New Albany 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 New Albany built between 1940-1969 ( 26.46%). A lesser amount of the housing stock also hails from before 1939 ( 13.50%). There's also some housing in New Albany built between 2000 and later ( 9.17%).

Vacant housing appears to be an issue in New Albany. Fully 13.33% of the housing stock is classified as vacant. Left unchecked, vacant New Albany homes and apartments can be a drag on the real estate market, holding New Albany 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.

New Albany Home Appreciation Rates

Appreciation rates for homes in New Albany have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.52%, which ranks in the top 30% nationwide. This equates to an annual average New Albany house appreciation rate of 1.19%.

Over the last year, New Albany appreciation rates have trailed the rest of the nation. In the last twelve months, New Albany's appreciation rate has been 3.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Albany were at 0.54%, which equates to an annual appreciation rate of 2.17%.

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

Average Home Values

 

Median Home Value:
$149,747

New Albany, MS HOME PRICES

Value Range
> $1,101,000 0.7
$825,001 - $1,101,000 0.9
$550,001 - $825,000 5.1
$440,001 - $550,000 0.0
$330,001 - $440,000 1.8
$220,001 - $330,000 10.9
$110,001 - $220,000 38.7
$55,001 - $110,000 26.3
$0 - $55,000 15.6

Very High for MS
Average for Nation

Value Relative to Nation Value Relative to State
50.1289112855971 9.38775510204082

Number Of Homes And Apartments:
3,108

New Albany 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
46.62% 2.24% 7 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,016 / per month

Homeownership Rate

Homeownership
Owners 53.34
Renters 46.66
Vacant 13.33

Housing Market Details

 

Age of Homes

AGE OF New Albany HOMES
2000 or Newer 9.2
1970 - 1999 50.9
1940 - 1969 26.5
1939 or Older 13.5

Types of Homes

TYPE OF New Albany HOMES
Single-Family 81.3
Townhomes 1.8
Small Apt. Buildings 6.4
Apt. Complexes 8.2
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF New Albany HOMES
No Bedroom 0.39
1 Bedroom 6.30
2 Bedrooms 28.03
3 Bedrooms 46.77
4 Bedrooms 13.30
5 or more bedrooms 5.21