Southaven MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Southaven, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Southaven Housing Market Information

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%).

Southaven Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$153,141

Southaven, MS HOME PRICES

Value Range
> $1,181,000 0.2
$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

Very High for MS
Average for Nation

Value Relative to Nation Value Relative to State
57.6583941605839 17.1428571428571

Number Of Homes And Apartments:
19,174

Southaven Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2019 Q4
26.00% 1.16%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,326 / per month

Homeownership Rate

Homeownership
Owners 67.46
Renters 32.54
Vacant 6.70

Housing Market Details

 

Age of Homes

AGE OF Southaven HOMES
2000 or Newer 37.6
1970 - 1999 48.0
1940 - 1969 13.2
1939 or Older 1.2

Types of Homes

TYPE OF Southaven HOMES
Single-Family 78.2
Townhomes 1.8
Small Apt. Buildings 4.1
Apt. Complexes 12.2
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Southaven HOMES
No Bedroom 1.01
1 Bedroom 4.02
2 Bedrooms 15.92
3 Bedrooms 54.71
4 Bedrooms 19.38
5 or more bedrooms 4.96