Statistics About The Most Expensive House In Mississippi

In this post, we explore a plethora of statistics surrounding homeownership, real estate, and income in Mississippi. From the percentage of homeowners in the state to the average home insurance rate and the wealthiest town in Mississippi, these data points offer a comprehensive picture of the real estate landscape in the Magnolia State.

Statistic 1

"73.3% of Mississippi residents are homeowners."

Statistic 2

"The average living space of a new single-family house in the U.S. Is 2,509 square feet."

Statistic 3

"Madison County, MS has among the most expensive homes in the state."

Statistic 4

"The median household income in Mississippi is $45,792."

Statistic 5

"The per capita income for the state of Mississippi is $23,836."

Statistic 6

"The average home insurance rate in Mississippi is $1,578 per year."

Statistic 7

"Mississippi has a homeownership rate of 69.1%, which is above the national average."

Statistic 8

"Only 3% of homes in Mississippi are valued over $300,000."

Statistic 9

"Homes in Mississippi typically sell for 93.9% of the asking price."

Statistic 10

"Roughly 20% of homes in Mississippi were built before 1950."

Statistic 11

"Mississippi has a real estate property tax rate of 0.80%."

Statistic 12

"The wealthiest town in Mississippi, according to data analysis is Madison, where the median household income is $114,521."

Statistic 13

"On average, home appreciation in Mississippi was up 4.3% in 2020."

In conclusion, Mississippi boasts a high homeownership rate, with a significant portion of households owning property valued under $300,000. Despite relatively lower household and per capita incomes compared to the national average, there are pockets of wealth in areas like Madison County with expensive homes and higher median household incomes. Home values tend to appreciate in Mississippi, with a majority of homes selling close to the asking price. Additionally, the state’s real estate property tax rate is relatively low, making it an attractive option for homeowners.