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 3,361 people, 1,263 houses or apartments, and a median cost of homes of $183,400, house prices in Water Valley are solidly below the national average.
Single-family detached homes are the single most common housing type in Water Valley, accounting for 79.73% of the city's housing units. Other types of housing that are prevalent in Water Valley include duplexes, homes converted to apartments or other small apartment buildings ( 10.67%), mobile homes or trailers ( 6.98%), and a few large apartment complexes or high rise apartments ( 2.55%).
The most prevalent building size and type in Water Valley are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.10% owning and 44.90% renting.
There is a lot of housing in Water Valley 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 Water Valley built between 1940-1969 ( 37.38%). A lesser amount of the housing stock also hails from before 1939 ( 13.42%). There's also some housing in Water Valley built between 2000 and later ( 11.07%).
Vacant housing appears to be an issue in Water Valley. Fully 15.23% of the housing stock is classified as vacant. Left unchecked, vacant Water Valley homes and apartments can be a drag on the real estate market, holding Water Valley 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.
Appreciation rates for homes in Water Valley have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.26%, which ranks in the top 30% nationwide. This equates to an annual average Water Valley house appreciation rate of 7.61%.
Appreciation rates are so strong in Water Valley that despite a nationwide downturn in the housing market, Water Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Water Valley appreciation rates continue to be some of the highest in America, at 8.35%, which is higher than appreciation rates in 73.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Water Valley. Water Valley appreciation rates in the latest quarter were at 2.38%, which equates to an annual appreciation rate of 9.88%.
Relative to Mississippi, our data show that Water Valley's latest annual appreciation rate is higher than 80% of the other cities and towns in Mississippi.
$183,400
for Mississippi
for nation
1,263
$1,354 / per month