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 a population of 8,978, 3,231 total housing units (homes and apartments), and a median house value of $154,445, the cost of homes in Booneville is among some of the lowest in the nation. Compared to Mississippi, however, Booneville real state is not on the lower end of the price spectrum.
Single-family detached homes are the single most common housing type in Booneville, accounting for 81.74% of the city's housing units. Other types of housing that are prevalent in Booneville include duplexes, homes converted to apartments or other small apartment buildings ( 10.77%), large apartment complexes or high rise apartments ( 5.86%), and a few row houses and other attached homes ( 1.44%).
The most prevalent building size and type in Booneville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.88% owning and 40.12% renting.
There is a lot of housing in Booneville 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 Booneville built between 1940-1969 ( 34.38%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.90%). There's also some housing in Booneville built before 1939 ( 1.60%).
Vacant housing appears to be an issue in Booneville. Fully 13.89% of the housing stock is classified as vacant. Left unchecked, vacant Booneville homes and apartments can be a drag on the real estate market, holding Booneville 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.
Booneville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Booneville during the period has been just 4.78%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Booneville's appreciation rate, at 6.16%, has been at or slightly above the national average. In the latest quarter, Booneville's appreciation rate has been 2.38%, which annualizes to a rate of 9.88%.
Relative to Mississippi, our data show that Booneville's latest annual appreciation rate is higher than 50% 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 Booneville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Booneville - 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 Booneville real estate investment or home purchase decisions.
$154,445
for Mississippi
for nation
3,231
$1,164 / per month