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 1,847 people, 935 houses or apartments, and a median cost of homes of $101,991, house prices in Magnolia 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 Magnolia, accounting for 76.44% of the city's housing units. Other types of housing that are prevalent in Magnolia include mobile homes or trailers ( 14.57%), duplexes, homes converted to apartments or other small apartment buildings ( 4.67%), and a few large apartment complexes or high rise apartments ( 2.47%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Magnolia. Owner-occupied housing accounts for 72.11% of Magnolia's homes, and 77.64% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Magnolia's housing was primarily built during this period, from the '40s through the '60s. A full 40.15% of the city's housing hails from this era. Other housing ages represented in Magnolia include homes built between 1970-1999 ( 39.78%) and housing constructed between 2000 and later ( 11.09%). There's also some housing in Magnolia built before 1939 ( 8.98%).
Vacant housing appears to be an issue in Magnolia. Fully 14.30% of the housing stock is classified as vacant. Left unchecked, vacant Magnolia homes and apartments can be a drag on the real estate market, holding Magnolia 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 Magnolia, where house values have increased just 44.54%, which is annualized rate of 3.75%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Magnolia appreciation rates have trailed the rest of the nation. In the last twelve months, Magnolia's appreciation rate has been 5.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Magnolia were at 2.38%, which equates to an annual appreciation rate of 9.87%.
Relative to Mississippi, our data show that Magnolia's latest annual appreciation rate is lower than 70% of the other cities and towns in Mississippi.
$101,991
for Mississippi
for nation
935
$1,465 / per month