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 5,765, 2,042 total housing units (homes and apartments), and a median house value of $225,479, house prices in Pontotoc are solidly below the national average.
Single-family detached homes are the single most common housing type in Pontotoc, accounting for 74.21% of the city's housing units. Other types of housing that are prevalent in Pontotoc include duplexes, homes converted to apartments or other small apartment buildings ( 14.06%), mobile homes or trailers ( 5.74%), and a few large apartment complexes or high rise apartments ( 4.52%).
The most prevalent building size and type in Pontotoc are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.29% owning and 51.71% renting.
There is a lot of housing in Pontotoc 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 Pontotoc built between 1940-1969 ( 38.12%). A lesser amount of the housing stock also hails from before 1939 ( 11.06%). There's also some housing in Pontotoc built between 2000 and later ( 10.38%).
Vacant housing appears to be an issue in Pontotoc. Fully 13.80% of the housing stock is classified as vacant. Left unchecked, vacant Pontotoc homes and apartments can be a drag on the real estate market, holding Pontotoc 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 Pontotoc's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.12% during the period.
NeighborhoodScout's data show that during the latest twelve months, Pontotoc's appreciation rate, at 7.10%, has been at or slightly above the national average. In the latest quarter, Pontotoc's appreciation rate has been 2.38%, which annualizes to a rate of 9.88%.
Relative to Mississippi, our data show that Pontotoc's latest annual appreciation rate is higher than 70% of the other cities and towns in Mississippi.
$225,479
for Mississippi
for nation
2,042
$1,356 / per month