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 27,682 people, 11,004 houses or apartments, and a median cost of homes of $200,538, house prices in Pearl are solidly below the national average.
Single-family detached homes are the single most common housing type in Pearl, accounting for 68.45% of the city's housing units. Other types of housing that are prevalent in Pearl include large apartment complexes or high rise apartments ( 14.60%), mobile homes or trailers ( 11.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.33%).
The most prevalent building size and type in Pearl are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.80% owning and 39.20% renting.
There is a lot of housing in Pearl 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 Pearl built between 1940-1969 ( 29.81%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.88%).
Pearl's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Pearl during the period has been just 5.29%, which is lower than 70% of US communities.
Appreciation rates are so strong in Pearl that despite a nationwide downturn in the housing market, Pearl real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pearl appreciation rates continue to be some of the highest in America, at 12.11%, which is higher than appreciation rates in 93.86% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pearl. Pearl appreciation rates in the latest quarter were at 0.63%, which equates to an annual appreciation rate of 2.56%.
Relative to Mississippi, our data show that Pearl's latest annual appreciation rate is higher than 80% 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 Pearl differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pearl - 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 Pearl real estate investment or home purchase decisions.
$200,538
for Mississippi
for nation
11,004
$1,809 / per month