Union, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Union Neighborhoods Since 2000




Union, MS Real Estate Data


Union Housing Market Information

With a population of 1,987, 785 total housing units (homes and apartments), and a median house value of $81,705, house prices in Union are solidly below the national average.

Single-family detached homes are the single most common housing type in Union, accounting for 77.26% of the town's housing units. Other types of housing that are prevalent in Union include mobile homes or trailers ( 10.55%), large apartment complexes or high rise apartments ( 10.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.96%).

The most prevalent building size and type in Union are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.63% owning and 39.37% renting.

There is a lot of housing in Union 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 Union built between 1940-1969 ( 35.69%). A lesser amount of the housing stock also hails from before 1939 ( 14.58%). There's also some housing in Union built between 2000 and later ( 4.35%).

Vacant housing appears to be an issue in Union. Fully 14.58% of the housing stock is classified as vacant. Left unchecked, vacant Union homes and apartments can be a drag on the real estate market, holding Union 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.

Union Home Appreciation Rates

Appreciation rates for homes in Union have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.35%, which ranks in the top 40% nationwide. This equates to an annual average Union house appreciation rate of 1.08%.

Appreciation rates are so strong in Union that despite a nationwide downturn in the housing market, Union real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Union appreciation rates continue to be some of the highest in America, at 5.72%, which is higher than appreciation rates in 70.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Union. Union appreciation rates in the latest quarter were at 1.35%, which equates to an annual appreciation rate of 5.52%.

Relative to Mississippi, our data show that Union's latest annual appreciation rate is higher than 80% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$81,705

Union, MS HOME PRICES

Value Range
> $1,109,000 0.0
$831,001 - $1,109,000 0.0
$554,001 - $831,000 0.0
$444,001 - $554,000 1.1
$332,001 - $444,000 0.6
$222,001 - $332,000 6.9
$111,001 - $222,000 24.8
$56,001 - $111,000 36.0
$0 - $56,000 30.5

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
90.2383322597646 64.0816326530612

Number Of Homes And Apartments:
785

Rent & Ownership

 

Average Market Rent:
$807 / per month

Homeownership Rate

Homeownership
Owners 60.63
Renters 39.37
Vacant 14.58

Housing Market Details

 

Age of Homes

AGE OF Union HOMES
2000 or Newer 4.4
1970 - 1999 45.4
1940 - 1969 35.7
1939 or Older 14.6

Types of Homes

TYPE OF Union HOMES
Single-Family 77.3
Townhomes 0.0
Small Apt. Buildings 2.0
Apt. Complexes 10.2
Mobile Homes 10.6
Other 0.0

Home Size

SIZE OF Union HOMES
No Bedroom 1.20
1 Bedroom 8.27
2 Bedrooms 21.00
3 Bedrooms 54.30
4 Bedrooms 14.15
5 or more bedrooms 1.09

Union 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
50.98% 2.45% 8 6
* 10 is highest

Popular Neighborhoods in Union

Popular Communities Near Union, MS

Zip Codes in Union, MS