Purvis, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Purvis, MS Real Estate Data


Purvis Housing Market Information

With a population of 2,335, 674 total housing units (homes and apartments), and a median house value of $130,591, house prices in Purvis are solidly below the national average.

Single-family detached homes are the single most common housing type in Purvis, accounting for 87.19% of the city's housing units. Other types of housing that are prevalent in Purvis include mobile homes or trailers ( 8.00%), large apartment complexes or high rise apartments ( 2.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.85%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Purvis. Owner-occupied housing accounts for 67.34% of Purvis's homes, and 75.74% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Purvis 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 Purvis built between 1940-1969 ( 29.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.19%). There's also some housing in Purvis built before 1939 ( 6.28%).

Vacant housing appears to be an issue in Purvis. Fully 17.00% of the housing stock is classified as vacant. Left unchecked, vacant Purvis homes and apartments can be a drag on the real estate market, holding Purvis 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.

Purvis Home Appreciation Rates

Appreciation rates for homes in Purvis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.77%, which ranks in the top 40% nationwide. This equates to an annual average Purvis house appreciation rate of 0.84%.

Over the last year, Purvis appreciation rates have trailed the rest of the nation. In the last twelve months, Purvis's appreciation rate has been 1.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Purvis were at -0.71%, which equates to an annual appreciation rate of -2.79%.

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

Relative to Mississippi, our data show that Purvis's latest annual appreciation rate is lower than 90% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$130,591

Purvis, MS HOME PRICES

Value Range
> $1,024,000 0.0
$768,001 - $1,024,000 0.0
$512,001 - $768,000 0.3
$410,001 - $512,000 0.6
$307,001 - $410,000 7.5
$205,001 - $307,000 15.1
$102,001 - $205,000 35.2
$51,001 - $102,000 19.1
$0 - $51,000 22.2

Very High for MS
Low for Nation

Value Relative to Nation Value Relative to State
60.4731510218422 16.734693877551

Number Of Homes And Apartments:
674

Rent & Ownership

 

Average Market Rent:
$762 / per month

Homeownership Rate

Homeownership
Owners 67.34
Renters 32.66
Vacant 17.00

Housing Market Details

 

Age of Homes

AGE OF Purvis HOMES
2000 or Newer 12.2
1970 - 1999 52.1
1940 - 1969 29.4
1939 or Older 6.3

Types of Homes

TYPE OF Purvis HOMES
Single-Family 87.2
Townhomes 0.0
Small Apt. Buildings 1.8
Apt. Complexes 3.0
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Purvis HOMES
No Bedroom 0.62
1 Bedroom 4.19
2 Bedrooms 18.72
3 Bedrooms 56.77
4 Bedrooms 18.97
5 or more bedrooms 0.74

Purvis Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
41.54% 2.06% 6 5
* 10 is highest

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Zip Codes in Purvis, MS