Tupelo MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Tupelo, 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Tupelo Housing Market Information

With a population of 38,206, 14,783 total housing units (homes and apartments), and a median house value of $144,484, house prices in Tupelo are solidly below the national average.

Single-family detached homes are the single most common housing type in Tupelo, accounting for 68.19% of the city's housing units. Other types of housing that are prevalent in Tupelo include large apartment complexes or high rise apartments ( 17.25%), duplexes, homes converted to apartments or other small apartment buildings ( 10.76%), and a few mobile homes or trailers ( 1.97%).

The most prevalent building size and type in Tupelo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.49% owning and 42.51% renting.

There is a lot of housing in Tupelo 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 Tupelo built between 1940-1969 ( 25.54%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.54%). There's also some housing in Tupelo built before 1939 ( 3.29%).

Vacant housing appears to be an issue in Tupelo. Fully 11.59% of the housing stock is classified as vacant. Left unchecked, vacant Tupelo homes and apartments can be a drag on the real estate market, holding Tupelo 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.

Tupelo Home Appreciation Rates

Tupelo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Tupelo during the period has been just 1.14%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Tupelo's appreciation rate, at 3.68%, has been at or slightly above the national average. In the latest quarter, Tupelo's appreciation rate has been 2.51%, which annualizes to a rate of 10.42%.

Importantly, this makes Tupelo 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 Tupelo's latest annual appreciation rate is higher than 60% 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 Tupelo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tupelo - 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 Tupelo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$144,484

Tupelo, MS HOME PRICES

Value Range
> $1,150,000 0.6
$863,001 - $1,150,000 0.7
$575,001 - $863,000 1.6
$460,001 - $575,000 1.7
$345,001 - $460,000 4.8
$230,001 - $345,000 14.4
$115,001 - $230,000 40.3
$58,001 - $115,000 28.1
$0 - $58,000 7.8

High for MS
Low for Nation

Value Relative to Nation Value Relative to State
61.0452554744526 20.8163265306122

Number Of Homes And Apartments:
14,783

Tupelo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
34.69% 1.52%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$951 / per month

Homeownership Rate

Homeownership
Owners 57.49
Renters 42.51
Vacant 11.59

Housing Market Details

 

Age of Homes

AGE OF Tupelo HOMES
2000 or Newer 16.5
1970 - 1999 54.6
1940 - 1969 25.5
1939 or Older 3.3

Types of Homes

TYPE OF Tupelo HOMES
Single-Family 68.2
Townhomes 1.8
Small Apt. Buildings 10.8
Apt. Complexes 17.3
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Tupelo HOMES
No Bedroom 9.93
1 Bedroom 6.12
2 Bedrooms 20.50
3 Bedrooms 44.99
4 Bedrooms 15.30
5 or more bedrooms 3.16