Richland, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Richland, MS Real Estate Data


Richland Housing Market Information

With 7,087 people, 2,632 houses or apartments, and a median cost of homes of $121,492, house prices in Richland are solidly below the national average.

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 ( 26.84%), large apartment complexes or high rise apartments ( 11.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.57%).

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 61.93% owning and 38.07% 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 ( 22.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.05%). There's also some housing in Richland built before 1939 ( 2.70%).

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 10.22%, which ranks in the top 40% nationwide. This equates to an annual average Richland house appreciation rate of 0.98%.

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 2.35%, 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 1.17%, which equates to an annual appreciation rate of 4.77%.

Relative to Mississippi, our data show that Richland's latest annual appreciation rate is lower than 80% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$121,492

Richland, MS HOME PRICES

Value Range
> $1,094,000 1.8
$821,001 - $1,094,000 0.0
$547,001 - $821,000 0.4
$438,001 - $547,000 0.0
$328,001 - $438,000 5.7
$219,001 - $328,000 10.8
$110,001 - $219,000 37.1
$54,001 - $110,000 15.8
$0 - $54,000 28.4

High for MS
Low for Nation

Value Relative to Nation Value Relative to State
65.4652456520466 21.6326530612245

Number Of Homes And Apartments:
2,632

Rent & Ownership

 

Average Market Rent:
$921 / per month

Homeownership Rate

Homeownership
Owners 61.93
Renters 38.07
Vacant 7.78

Housing Market Details

 

Age of Homes

AGE OF Richland HOMES
2000 or Newer 22.7
1970 - 1999 60.6
1940 - 1969 14.1
1939 or Older 2.7

Types of Homes

TYPE OF Richland HOMES
Single-Family 57.7
Townhomes 0.0
Small Apt. Buildings 3.6
Apt. Complexes 11.8
Mobile Homes 26.8
Other 0.0

Home Size

SIZE OF Richland HOMES
No Bedroom 1.05
1 Bedroom 0.46
2 Bedrooms 32.38
3 Bedrooms 52.56
4 Bedrooms 13.17
5 or more bedrooms 0.39

Richland 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
34.76% 1.77% 4 4
* 10 is highest

Popular Neighborhoods in Richland

Zip Codes in Richland, MS