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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hernando, MS Real Estate Market

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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hernando, MS Housing Market Trends

With 18,053 people, 6,715 houses or apartments, and a median cost of homes of $347,162, Hernando real estate is some of the most expensive in Mississippi, although Hernando home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Hernando, accounting for 80.41% of the city's housing units. Other types of housing that are prevalent in Hernando include large apartment complexes or high rise apartments ( 6.78%), mobile homes or trailers ( 4.81%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hernando. Owner-occupied housing accounts for 78.85% of Hernando's homes, and 72.82% have either three or four bedrooms, which is average sized relative to America.

Hernando homes and real estate are some of the newest in America. 49.37% of Hernando's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Hernando real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 41.49%), and between 1940-1969 ( 7.66%). There's also some housing in Hernando built before 1939 ( 1.48%).

Hernando Home Appreciation Rates

Real estate appreciation rates in Hernando's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.01% during the period.

Over the last year, Hernando appreciation rates have trailed the rest of the nation. In the last twelve months, Hernando's appreciation rate has been 2.49%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hernando were at -1.15%, which equates to an annual appreciation rate of -4.52%.

Notably, Hernando's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Mississippi, our data show that Hernando's latest annual appreciation rate is lower than 70% 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 Hernando differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hernando - 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 Hernando real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$347,162

Hernando, MS Home Prices
> $1,328,000
$996,001 - $1,328,000
$664,001 - $996,000
$532,001 - $664,000
$398,001 - $532,000
$266,001 - $398,000
$133,001 - $266,000
$67,001 - $133,000
$0 - $67,000
0.4%
0.4%
2.0%
2.0%
2.7%
2.7%
9.5%
9.5%
22.1%
22.1%
39.4%
39.4%
17.1%
17.1%
2.4%
2.4%
4.3%
4.3%
0% 100.0%
% of Homes
Very High

for Mississippi

High

for nation

Number of Homes And Apartments:

6,715

Hernando Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,870 / per month

Homeownership Rate

Owners
Renters
78.9%
78.9%
21.1%
21.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.4%
4.4%
95.6%
95.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
49.4%
49.4%
41.5%
41.5%
7.7%
7.7%
1.5%
1.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.4%
80.4%
2.8%
2.8%
4.8%
4.8%
6.8%
6.8%
4.8%
4.8%
0.4%
0.4%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.4%
3.4%
3.8%
3.8%
13.2%
13.2%
47.8%
47.8%
25.1%
25.1%
6.7%
6.7%
0% 100.0%
% of Homes