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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.



Southaven, 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

Southaven, MS Housing Market Trends

With a population of 56,360, 20,262 total housing units (homes and apartments), and a median house value of $277,138, Southaven real estate is some of the most expensive in Mississippi, although Southaven home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Southaven, accounting for 80.06% of the city's housing units. Other types of housing that are prevalent in Southaven include large apartment complexes or high rise apartments ( 10.46%), duplexes, homes converted to apartments or other small apartment buildings ( 4.35%), and a few mobile homes or trailers ( 3.43%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Southaven. Owner-occupied housing accounts for 70.46% of Southaven's homes, and 74.19% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Southaven 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 Southaven built between 2000 and later ( 41.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.30%).

Southaven Home Appreciation Rates

Appreciation rates for homes in Southaven have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 101.99%, which ranks in the top 30% nationwide. This equates to an annual average Southaven house appreciation rate of 7.28%.

Over the last year, Southaven appreciation rates have trailed the rest of the nation. In the last twelve months, Southaven'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 Southaven were at -1.15%, which equates to an annual appreciation rate of -4.52%.

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

Relative to Mississippi, our data show that Southaven'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 Southaven differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Southaven - 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 Southaven real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$277,138

Southaven, MS Home Prices
> $1,363,000
$1,022,001 - $1,363,000
$681,001 - $1,022,000
$545,001 - $681,000
$409,001 - $545,000
$272,001 - $409,000
$136,001 - $272,000
$68,001 - $136,000
$0 - $68,000
1.0%
1.0%
0.7%
0.7%
1.5%
1.5%
1.9%
1.9%
12.0%
12.0%
27.6%
27.6%
42.6%
42.6%
9.1%
9.1%
3.6%
3.6%
0% 100.0%
% of Homes
Very High

for Mississippi

Average

for nation

Number of Homes And Apartments:

20,262

Southaven Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,221 / per month

Homeownership Rate

Owners
Renters
70.5%
70.5%
29.5%
29.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.1%
8.1%
91.9%
91.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
41.4%
41.4%
46.4%
46.4%
11.3%
11.3%
0.9%
0.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
80.1%
80.1%
1.6%
1.6%
4.3%
4.3%
10.5%
10.5%
3.4%
3.4%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
4.7%
4.7%
14.6%
14.6%
50.3%
50.3%
23.9%
23.9%
5.9%
5.9%
0% 100.0%
% of Homes