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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 54,944 people, 19,174 houses or apartments, and a median cost of homes of $153,141, house prices in Southaven are solidly below the national average.
Single-family detached homes are the single most common housing type in Southaven, accounting for 78.17% of the city's housing units. Other types of housing that are prevalent in Southaven include large apartment complexes or high rise apartments ( 12.24%), duplexes, homes converted to apartments or other small apartment buildings ( 4.10%), and a few mobile homes or trailers ( 3.65%).
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 67.46% of Southaven's homes, and 74.09% 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 ( 37.62%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.18%). There's also some housing in Southaven built before 1939 ( 1.24%).
Real estate appreciation rates in Southaven's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.66% during the period.
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 6.04%, which is higher than appreciation rates in 85.19% 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 1.80%, which equates to an annual appreciation rate of 7.41%.
Importantly, this makes Southaven one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
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.
|$886,001 - $1,181,000||0.3|
|$591,001 - $886,000||0.3|
|$472,001 - $591,000||0.8|
|$354,001 - $472,000||3.5|
|$236,001 - $354,000||16.9|
|$118,001 - $236,000||47.5|
|$59,001 - $118,000||25.3|
|$0 - $59,000||5.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Southaven HOMES|
|2000 or Newer||37.6|
|1970 - 1999||48.0|
|1940 - 1969||13.2|
|1939 or Older||1.2|
|TYPE OF Southaven HOMES|
|Small Apt. Buildings||4.1|
|SIZE OF Southaven HOMES|
|5 or more bedrooms||4.96|