Richton, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Richton, MS Real Estate Data


Richton Housing Market Information

With 1,066 people, 338 houses or apartments, and a median cost of homes of $79,838, house prices in Richton are solidly below the national average.

Single-family detached homes are the single most common housing type in Richton, accounting for 80.51% of the town's housing units. Other types of housing that are prevalent in Richton include duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), large apartment complexes or high rise apartments ( 5.35%), and a few mobile homes or trailers ( 3.85%).

The most prevalent building size and type in Richton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.24% owning and 39.76% renting.

There is a lot of housing in Richton 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 Richton built between 1940-1969 ( 19.06%). A lesser amount of the housing stock also hails from before 1939 ( 14.78%). There's also some housing in Richton built between 2000 and later ( 12.63%).

Vacant housing appears to be an issue in Richton. Fully 27.62% of the housing stock is classified as vacant. Left unchecked, vacant Richton homes and apartments can be a drag on the real estate market, holding Richton 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.

Richton Home Appreciation Rates

Real estate appreciation rates in Richton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.04% during the period.

Over the last year, Richton appreciation rates have trailed the rest of the nation. In the last twelve months, Richton's appreciation rate has been 0.85%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Richton were at -0.71%, which equates to an annual appreciation rate of -2.79%.

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

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

Average Home Values

 

Median Home Value:
$79,838

Richton, MS HOME PRICES

Value Range
> $1,039,000 0.0
$779,001 - $1,039,000 0.0
$519,001 - $779,000 0.0
$415,001 - $519,000 0.0
$311,001 - $415,000 0.2
$208,001 - $311,000 8.7
$104,001 - $208,000 26.9
$52,001 - $104,000 40.6
$0 - $52,000 23.5

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
91.3626515195877 67.3469387755102

Number Of Homes And Apartments:
338

Rent & Ownership

 

Average Market Rent:
$778 / per month

Homeownership Rate

Homeownership
Owners 60.24
Renters 39.76
Vacant 27.62

Housing Market Details

 

Age of Homes

AGE OF Richton HOMES
2000 or Newer 12.6
1970 - 1999 53.5
1940 - 1969 19.1
1939 or Older 14.8

Types of Homes

TYPE OF Richton HOMES
Single-Family 80.5
Townhomes 0.0
Small Apt. Buildings 10.3
Apt. Complexes 5.4
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Richton HOMES
No Bedroom 0.00
1 Bedroom 6.00
2 Bedrooms 20.56
3 Bedrooms 49.04
4 Bedrooms 22.06
5 or more bedrooms 2.36

Richton 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
32.73% 1.68% 4 4
* 10 is highest

Popular Neighborhoods in Richton

Popular Communities Near Richton, MS

Zip Codes in Richton, MS