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Southaven, MS Real Estate Market

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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Southaven, MS Housing Market Trends

With 55,429 people, 20,226 houses or apartments, and a median cost of homes of $231,240, Southaven real estate is some of the most expensive in Mississippi, although Southaven home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Southaven, accounting for 80.48% of the city's housing units. Other types of housing that are prevalent in Southaven include large apartment complexes or high rise apartments ( 10.37%), duplexes, homes converted to apartments or other small apartment buildings ( 4.27%), and a few mobile homes or trailers ( 3.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Southaven. Owner-occupied housing accounts for 70.78% of Southaven's homes, and 73.70% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Southaven 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 Southaven built between 2000 and later ( 38.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.13%).

Southaven Home Appreciation Rates

Appreciation rates for homes in Southaven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 86.35%, which ranks in the top 40% nationwide. This equates to an annual average Southaven house appreciation rate of 6.42%.

Appreciation rates are so strong in Southaven that despite a nationwide downturn in the housing market, Southaven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Southaven appreciation rates continue to be some of the highest in America, at 16.13%, which is higher than appreciation rates in 74.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Southaven. Southaven appreciation rates in the latest quarter were at 3.42%, which equates to an annual appreciation rate of 14.41%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Southaven differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Southaven - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Southaven real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$231,240

Southaven, MS HOME PRICES

> $1,505,000
$1,128,001 - $1,505,000
$752,001 - $1,128,000
$602,001 - $752,000
$452,001 - $602,000
$301,001 - $452,000
$151,001 - $301,000
$75,001 - $151,000
$0 - $75,000
0.3%
0.3%
0.8%
0.8%
0.4%
0.4%
0.6%
0.6%
5.2%
5.2%
22.1%
22.1%
49.1%
49.1%
17.8%
17.8%
3.7%
3.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for MS

Value Relative To Nation

Number Of Homes And Apartments:
20,226

Southaven Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
84.49% 2.73%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,769 / per month

Homeownership Rate

Owners
Renters
Vacant
70.8%
70.8%
29.2%
29.2%
5.9%
5.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
38.8%
38.8%
48.3%
48.3%
12.1%
12.1%
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.5%
80.5%
1.6%
1.6%
4.3%
4.3%
10.4%
10.4%
3.2%
3.2%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
4.1%
4.1%
15.0%
15.0%
52.3%
52.3%
21.4%
21.4%
6.3%
6.3%
0.0% 100.0%
% OF HOMES