Southaven, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Southaven, MS Real Estate Data


Southaven Housing Market Information

With 52,589 people, 17,986 houses or apartments, and a median cost of homes of $155,029, 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 76.92% of the city's housing units. Other types of housing that are prevalent in Southaven include large apartment complexes or high rise apartments ( 12.91%), duplexes, homes converted to apartments or other small apartment buildings ( 4.54%), and a few mobile homes or trailers ( 3.84%).

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 68.51% of Southaven's homes, and 73.15% 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 ( 38.18%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.98%).

Southaven Home Appreciation Rates

Southaven's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Southaven during the period has been just -0.78%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Southaven's appreciation rate, at 5.24%, has been at or slightly above the national average. In the latest quarter, Southaven's appreciation rate has been 1.31%, which annualizes to a rate of 5.35%.

Relative to Mississippi, our data show that Southaven's latest annual appreciation rate is higher than 50% 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:
$155,029

Southaven, MS HOME PRICES

Value Range
> $1,096,000 0.3
$822,001 - $1,096,000 0.5
$548,001 - $822,000 0.3
$439,001 - $548,000 0.9
$329,001 - $439,000 2.9
$219,001 - $329,000 16.2
$110,001 - $219,000 45.5
$55,001 - $110,000 27.5
$0 - $55,000 5.9

Very High for MS
Average for Nation

Value Relative to Nation Value Relative to State
48.5623938630907 8.57142857142857

Number Of Homes And Apartments:
17,986

Rent & Ownership

 

Average Market Rent:
$1,370 / per month

Homeownership Rate

Homeownership
Owners 68.51
Renters 31.49
Vacant 7.36

Housing Market Details

 

Age of Homes

AGE OF Southaven HOMES
2000 or Newer 38.2
1970 - 1999 47.4
1940 - 1969 14.0
1939 or Older 0.5

Types of Homes

TYPE OF Southaven HOMES
Single-Family 76.9
Townhomes 1.8
Small Apt. Buildings 4.5
Apt. Complexes 12.9
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Southaven HOMES
No Bedroom 0.52
1 Bedroom 4.40
2 Bedrooms 17.86
3 Bedrooms 52.49
4 Bedrooms 20.67
5 or more bedrooms 4.06

Southaven 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
7.77% 0.44% 1 1
* 10 is highest