Union, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Union Neighborhoods Since 2000




Union, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Union Housing Market Information

With a population of 1,987, 739 total housing units (homes and apartments), and a median house value of $80,113, 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 77.25% of the town's housing units. Other types of housing that are prevalent in Union include large apartment complexes or high rise apartments ( 11.02%), mobile homes or trailers ( 8.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.96%).

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 61.42% owning and 38.58% 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 ( 33.65%). A lesser amount of the housing stock also hails from before 1939 ( 14.69%). There's also some housing in Union built between 2000 and later ( 7.46%).

Vacant housing appears to be an issue in Union. Fully 12.44% 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 11.60%, which ranks in the top 30% nationwide. This equates to an annual average Union house appreciation rate of 1.10%.

Over the last year, Union appreciation rates have trailed the rest of the nation. In the last twelve months, Union's appreciation rate has been 3.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Union were at 0.54%, which equates to an annual appreciation rate of 2.17%.

Relative to Mississippi, our data show that Union's latest annual appreciation rate is lower than 50% of the other cities and towns in Mississippi.

Average Home Values

 

Median Home Value:
$80,113

Union, MS HOME PRICES

Value Range
> $1,088,000 0.0
$816,001 - $1,088,000 0.0
$544,001 - $816,000 0.0
$435,001 - $544,000 0.0
$326,001 - $435,000 0.6
$217,001 - $326,000 8.1
$109,001 - $217,000 24.4
$55,001 - $109,000 41.4
$0 - $55,000 25.5

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
90.4195476385796 64.4897959183673

Number Of Homes And Apartments:
739

Union Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
52.65% 2.48% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,082 / per month

Homeownership Rate

Homeownership
Owners 61.42
Renters 38.58
Vacant 12.44

Housing Market Details

 

Age of Homes

AGE OF Union HOMES
2000 or Newer 7.5
1970 - 1999 44.2
1940 - 1969 33.6
1939 or Older 14.7

Types of Homes

TYPE OF Union HOMES
Single-Family 77.3
Townhomes 0.0
Small Apt. Buildings 3.0
Apt. Complexes 11.0
Mobile Homes 8.8
Other 0.0

Home Size

SIZE OF Union HOMES
No Bedroom 1.78
1 Bedroom 7.70
2 Bedrooms 21.21
3 Bedrooms 54.15
4 Bedrooms 13.63
5 or more bedrooms 1.54

Popular Neighborhoods in Union

Popular Communities Near Union, MS

Zip Codes in Union, MS