West Point, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating West Point Neighborhoods Since 2000




West Point, 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

West Point Housing Market Information

With a population of 10,990, 4,402 total housing units (homes and apartments), and a median house value of $93,948, the cost of homes in West Point is among some of the lowest in the nation. Compared to Mississippi, however, West Point real state is not on the lower end of the price spectrum.

Single-family detached homes are the single most common housing type in West Point, accounting for 71.97% of the city's housing units. Other types of housing that are prevalent in West Point include duplexes, homes converted to apartments or other small apartment buildings ( 15.30%), large apartment complexes or high rise apartments ( 7.01%), and a few mobile homes or trailers ( 5.12%).

The most prevalent building size and type in West Point are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.50% owning and 42.50% renting.

There is a lot of housing in West Point 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 West Point built between 1940-1969 ( 31.58%). A lesser amount of the housing stock also hails from before 1939 ( 9.46%). There's also some housing in West Point built between 2000 and later ( 5.39%).

Vacant housing appears to be an issue in West Point. Fully 14.97% of the housing stock is classified as vacant. Left unchecked, vacant West Point homes and apartments can be a drag on the real estate market, holding West Point 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.

West Point Home Appreciation Rates

Appreciation rates for homes in West Point have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.81%, which ranks in the top 30% nationwide. This equates to an annual average West Point house appreciation rate of 1.39%.

NeighborhoodScout's data show that during the latest twelve months, West Point's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, West Point's appreciation rate has been 0.54%, which annualizes to a rate of 2.17%.

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

Average Home Values

 

Median Home Value:
$93,948

West Point, MS HOME PRICES

Value Range
> $1,091,000 0.0
$818,001 - $1,091,000 0.0
$546,001 - $818,000 0.3
$436,001 - $546,000 0.4
$327,001 - $436,000 2.2
$218,001 - $327,000 5.9
$109,001 - $218,000 25.1
$54,001 - $109,000 44.3
$0 - $54,000 21.8

Average for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
81.4016172506739 45.3061224489796

Number Of Homes And Apartments:
4,402

West Point 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
30.63% 1.56% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$939 / per month

Homeownership Rate

Homeownership
Owners 57.50
Renters 42.50
Vacant 14.97

Housing Market Details

 

Age of Homes

AGE OF West Point HOMES
2000 or Newer 5.4
1970 - 1999 53.6
1940 - 1969 31.6
1939 or Older 9.5

Types of Homes

TYPE OF West Point HOMES
Single-Family 72.0
Townhomes 0.6
Small Apt. Buildings 15.3
Apt. Complexes 7.0
Mobile Homes 5.1
Other 0.0

Home Size

SIZE OF West Point HOMES
No Bedroom 0.42
1 Bedroom 5.91
2 Bedrooms 25.11
3 Bedrooms 54.76
4 Bedrooms 11.82
5 or more bedrooms 1.97

Popular Communities Near West Point, MS

Zip Codes in West Point, MS