Picayune, MS Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Picayune, MS Housing Market Trends

With 10,904 people, 4,457 houses or apartments, and a median cost of homes of $161,773, Picayune real estate is some of the most expensive in Mississippi, although Picayune home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Picayune, accounting for 68.94% of the city's housing units. Other types of housing that are prevalent in Picayune include duplexes, homes converted to apartments or other small apartment buildings ( 18.90%), large apartment complexes or high rise apartments ( 5.96%), and a few row houses and other attached homes ( 3.37%).

The most prevalent building size and type in Picayune are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.20% owning and 44.80% renting.

There is a lot of housing in Picayune 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 Picayune built between 1940-1969 ( 27.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.02%). There's also some housing in Picayune built before 1939 ( 5.32%).

Vacant housing appears to be an issue in Picayune. Fully 17.99% of the housing stock is classified as vacant. Left unchecked, vacant Picayune homes and apartments can be a drag on the real estate market, holding Picayune 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.

Picayune Home Appreciation Rates

Picayune's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Picayune during the period has been just 1.44%, which is lower than 80% of US communities.

Over the last year, Picayune appreciation rates have trailed the rest of the nation. In the last twelve months, Picayune's appreciation rate has been 3.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Picayune were at 1.72%, which equates to an annual appreciation rate of 7.05%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Picayune differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Picayune - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Picayune real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$161,773

Picayune, MS HOME PRICES

> $1,119,000
0.1%
0.1%
$839,001 - $1,119,000
1.0%
1.0%
$559,001 - $839,000
0.8%
0.8%
$448,001 - $559,000
0.9%
0.9%
$336,001 - $448,000
3.1%
3.1%
$224,001 - $336,000
11.3%
11.3%
$112,001 - $224,000
37.2%
37.2%
$56,001 - $112,000
31.5%
31.5%
$0 - $56,000
13.9%
13.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for MS

Value Relative To Nation

Number Of Homes And Apartments:
4,457

Picayune Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
65.52% 2.43%
7
5
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,049 / per month

Homeownership Rate

Owners
55.2%
55.2%
Renters
44.8%
44.8%
Vacant
18.0%
18.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
23.0%
23.0%
1970 - 1999
44.6%
44.6%
1940 - 1969
27.0%
27.0%
1939 or Older
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.9%
68.9%
Townhomes
3.4%
3.4%
Small Apt. Buildings
18.9%
18.9%
Apt. Complexes
6.0%
6.0%
Mobile Homes
2.8%
2.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
9.8%
9.8%
2 Bedrooms
27.3%
27.3%
3 Bedrooms
48.5%
48.5%
4 Bedrooms
9.7%
9.7%
5 or more bedrooms
1.7%
1.7%
0.0% 100.0%
% OF HOMES

Popular Communities Near Picayune, MS

Zip Codes in Picayune, MS