Quitman, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Quitman, 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

Quitman Housing Market Information

With a population of 2,209, 880 total housing units (homes and apartments), and a median house value of $73,120, house prices in Quitman are solidly below the national average.

Single-family detached homes are the single most common housing type in Quitman, accounting for 72.84% of the city's housing units. Other types of housing that are prevalent in Quitman include large apartment complexes or high rise apartments ( 13.87%), mobile homes or trailers ( 6.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Quitman. Owner-occupied housing accounts for 65.25% of Quitman's homes, and 69.42% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Quitman 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 Quitman built between 1940-1969 ( 36.56%). A lesser amount of the housing stock also hails from before 1939 ( 7.03%). There's also some housing in Quitman built between 2000 and later ( 1.71%).

Vacant housing appears to be an issue in Quitman. Fully 16.43% of the housing stock is classified as vacant. Left unchecked, vacant Quitman homes and apartments can be a drag on the real estate market, holding Quitman 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.

Quitman Home Appreciation Rates

Appreciation rates for homes in Quitman have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.22%, which ranks in the top 50% nationwide. This equates to an annual average Quitman house appreciation rate of 0.12%.

Over the last year, Quitman appreciation rates have trailed the rest of the nation. In the last twelve months, Quitman's appreciation rate has been 2.29%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Quitman were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Quitman's latest annual appreciation rate is lower than 70% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$73,120

Quitman, MS HOME PRICES

Value Range
> $1,058,000 0.0
$794,001 - $1,058,000 0.0
$529,001 - $794,000 0.0
$423,001 - $529,000 0.0
$317,001 - $423,000 0.0
$211,001 - $317,000 4.0
$106,001 - $211,000 23.7
$53,001 - $106,000 37.9
$0 - $53,000 34.5

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
93.9353099730458 78.3673469387755

Number Of Homes And Apartments:
880

Quitman 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
36.94% 1.84% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$598 / per month

Homeownership Rate

Homeownership
Owners 65.25
Renters 34.75
Vacant 16.43

Housing Market Details

 

Age of Homes

AGE OF Quitman HOMES
2000 or Newer 1.7
1970 - 1999 54.7
1940 - 1969 36.6
1939 or Older 7.0

Types of Homes

TYPE OF Quitman HOMES
Single-Family 72.8
Townhomes 2.0
Small Apt. Buildings 3.5
Apt. Complexes 13.9
Mobile Homes 6.4
Other 1.4

Home Size

SIZE OF Quitman HOMES
No Bedroom 2.47
1 Bedroom 8.26
2 Bedrooms 18.52
3 Bedrooms 54.61
4 Bedrooms 14.81
5 or more bedrooms 1.33

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Zip Codes in Quitman, MS