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 a population of 9,134, 3,547 total housing units (homes and apartments), and a median house value of $89,110, house prices in Indianola are some of the most affordable in Mississippi as well as the nation.
Single-family detached homes are the single most common housing type in Indianola, accounting for 80.39% of the city's housing units. Other types of housing that are prevalent in Indianola include large apartment complexes or high rise apartments ( 11.31%), duplexes, homes converted to apartments or other small apartment buildings ( 6.45%), and a few row houses and other attached homes ( 1.35%).
The most prevalent building size and type in Indianola are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.80% owning and 47.20% renting.
There is a lot of housing in Indianola 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 Indianola built between 1940-1969 ( 37.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 6.75%). There's also some housing in Indianola built before 1939 ( 4.70%).
Vacant housing appears to be an issue in Indianola. Fully 12.64% of the housing stock is classified as vacant. Left unchecked, vacant Indianola homes and apartments can be a drag on the real estate market, holding Indianola 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Indianola, where house values have increased just 18.92%, which is annualized rate of 1.75%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Indianola that despite a nationwide downturn in the housing market, Indianola real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Indianola appreciation rates continue to be some of the highest in America, at 8.42%, which is higher than appreciation rates in 74.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Indianola. Indianola appreciation rates in the latest quarter were at 2.38%, which equates to an annual appreciation rate of 9.87%.
Relative to Mississippi, our data show that Indianola's latest annual appreciation rate is higher than 80% of the other cities and towns in Mississippi.
$89,110
for Mississippi
for nation
3,547
$1,094 / per month