Richland, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Richland Neighborhoods Since 2000




Richland, 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

Richland Housing Market Information

With a population of 7,087, 2,495 total housing units (homes and apartments), and a median house value of $89,986, the cost of homes in Richland is among some of the lowest in the nation. Compared to Mississippi, however, Richland real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Richland, accounting for 57.74% of the city's housing units. Other types of housing that are prevalent in Richland include mobile homes or trailers ( 27.15%), large apartment complexes or high rise apartments ( 10.54%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.57%).

The most prevalent building size and type in Richland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.36% owning and 39.64% renting.

There is a lot of housing in Richland 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 Richland built between 2000 and later ( 20.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.55%). There's also some housing in Richland built before 1939 ( 2.20%).

Richland Home Appreciation Rates

Appreciation rates for homes in Richland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.56%, which ranks in the top 50% nationwide. This equates to an annual average Richland house appreciation rate of 0.15%.

Over the last year, Richland appreciation rates have trailed the rest of the nation. In the last twelve months, Richland's appreciation rate has been -0.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Richland were at -0.74%, which equates to an annual appreciation rate of -2.93%.

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

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

Average Home Values

 

Median Home Value:
$89,986

Richland, MS HOME PRICES

Value Range
> $1,012,000 1.3
$760,001 - $1,012,000 0.0
$507,001 - $760,000 0.5
$405,001 - $507,000 0.0
$304,001 - $405,000 6.9
$202,001 - $304,000 9.8
$101,001 - $202,000 41.8
$50,001 - $101,000 11.7
$0 - $50,000 28.1

Average for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
83.9974217742881 48.9795918367347

Number Of Homes And Apartments:
2,495

Richland 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
27.58% 1.42% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,096 / per month

Homeownership Rate

Homeownership
Owners 60.36
Renters 39.64
Vacant 8.71

Housing Market Details

 

Age of Homes

AGE OF Richland HOMES
2000 or Newer 20.8
1970 - 1999 61.5
1940 - 1969 15.6
1939 or Older 2.2

Types of Homes

TYPE OF Richland HOMES
Single-Family 57.7
Townhomes 0.0
Small Apt. Buildings 4.6
Apt. Complexes 10.5
Mobile Homes 27.1
Other 0.0

Home Size

SIZE OF Richland HOMES
No Bedroom 0.00
1 Bedroom 0.62
2 Bedrooms 29.02
3 Bedrooms 59.50
4 Bedrooms 10.72
5 or more bedrooms 0.15

Popular Neighborhoods in Richland

Zip Codes in Richland, MS