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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,622 people, 761 houses or apartments, and a median cost of homes of $178,696, house prices in Bay Springs are solidly below the national average.
Single-family detached homes are the single most common housing type in Bay Springs, accounting for 71.31% of the city's housing units. Other types of housing that are prevalent in Bay Springs include duplexes, homes converted to apartments or other small apartment buildings ( 16.47%), mobile homes or trailers ( 7.95%), and a few large apartment complexes or high rise apartments ( 3.69%).
The most prevalent building size and type in Bay Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.60% owning and 38.40% renting.
There is a lot of housing in Bay Springs 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 Bay Springs built between 2000 and later ( 23.85%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.82%). There's also some housing in Bay Springs built before 1939 ( 5.30%).
Vacant housing appears to be an issue in Bay Springs. Fully 12.33% of the housing stock is classified as vacant. Left unchecked, vacant Bay Springs homes and apartments can be a drag on the real estate market, holding Bay Springs 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.
Real estate appreciation rates in Bay Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.97% during the period.
NeighborhoodScout's data show that during the latest twelve months, Bay Springs's appreciation rate, at 6.44%, has been at or slightly above the national average. In the latest quarter, Bay Springs's appreciation rate has been 2.38%, which annualizes to a rate of 9.88%.
Relative to Mississippi, our data show that Bay Springs's latest annual appreciation rate is higher than 60% of the other cities and towns in Mississippi.
$178,696
for Mississippi
for nation
761
$1,352 / per month