Richton, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Richton, 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

Richton Housing Market Information

With 1,066 people, 330 houses or apartments, and a median cost of homes of $83,305, the cost of homes in Richton is among some of the lowest in the nation. Compared to Mississippi, however, Richton real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in Richton, accounting for 76.32% 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 ( 12.64%), mobile homes or trailers ( 6.21%), and a few large apartment complexes or high rise apartments ( 4.83%).

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 61.88% owning and 38.12% 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 ( 22.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.63%). There's also some housing in Richton built before 1939 ( 9.89%).

Vacant housing appears to be an issue in Richton. Fully 24.14% 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 -0.26% during the period.

NeighborhoodScout's data show that during the latest twelve months, Richton's appreciation rate, at 4.37%, has been at or slightly above the national average. In the latest quarter, Richton's appreciation rate has been 1.36%, which annualizes to a rate of 5.53%.

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

Average Home Values

 

Median Home Value:
$83,305

Richton, MS HOME PRICES

Value Range
> $1,074,000 1.3
$805,001 - $1,074,000 0.0
$537,001 - $805,000 0.0
$430,001 - $537,000 0.0
$322,001 - $430,000 0.3
$215,001 - $322,000 7.4
$108,001 - $215,000 28.0
$54,001 - $108,000 35.6
$0 - $54,000 27.3

Average for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
88.4331419196062 59.1836734693878

Number Of Homes And Apartments:
330

Richton 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
34.60% 1.74% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$832 / per month

Homeownership Rate

Homeownership
Owners 61.88
Renters 38.12
Vacant 24.14

Housing Market Details

 

Age of Homes

AGE OF Richton HOMES
2000 or Newer 15.6
1970 - 1999 51.7
1940 - 1969 22.8
1939 or Older 9.9

Types of Homes

TYPE OF Richton HOMES
Single-Family 76.3
Townhomes 0.0
Small Apt. Buildings 12.6
Apt. Complexes 4.8
Mobile Homes 6.2
Other 0.0

Home Size

SIZE OF Richton HOMES
No Bedroom 0.00
1 Bedroom 11.26
2 Bedrooms 19.77
3 Bedrooms 48.51
4 Bedrooms 18.39
5 or more bedrooms 2.07

Popular Neighborhoods in Richton

Popular Communities Near Richton, MS

Zip Codes in Richton, MS