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 3,891 people, 1,357 houses or apartments, and a median cost of homes of $173,136, house prices in Magee are solidly below the national average.
Single-family detached homes are the single most common housing type in Magee, accounting for 69.50% of the city's housing units. Other types of housing that are prevalent in Magee include large apartment complexes or high rise apartments ( 11.00%), duplexes, homes converted to apartments or other small apartment buildings ( 9.96%), and a few mobile homes or trailers ( 7.95%).
The most prevalent building size and type in Magee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.48% owning and 50.52% renting.
There is a lot of housing in Magee 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 Magee built between 1940-1969 ( 36.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.32%). There's also some housing in Magee built before 1939 ( 3.12%).
Vacant housing appears to be an issue in Magee. Fully 17.05% of the housing stock is classified as vacant. Left unchecked, vacant Magee homes and apartments can be a drag on the real estate market, holding Magee 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 Magee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.76% during the period.
Appreciation rates are so strong in Magee that despite a nationwide downturn in the housing market, Magee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Magee appreciation rates continue to be some of the highest in America, at 11.71%, which is higher than appreciation rates in 92.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Magee. Magee 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 Magee's latest annual appreciation rate is higher than 80% of the other cities and towns in Mississippi.
$173,136
for Mississippi
for nation
1,357
$1,143 / per month