Top 5 Residential Real Estate Investment Markets in Mississippi

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By Trent Seigfried Updated May 28, 2024
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Edited by Michael Yessis

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Crystal Springs is home to the best residential real estate investment market in Mississippi.

The 39059 zip code in Crystal Springs presents the greatest opportunity for investors among the 580 individual real estate markets in Mississippi we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.

Top 5 Mississippi residential real estate markets

RankCity InvestScore Affordability Property value appreciation
1Crystal Springs1002.227.09%
2Mount Olive98.22.024.34%
3Batesville94.73.055.22%
4Caledonia94.62.933.40%
5Byram93.62.841.15%
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1. Crystal Springs

We've identified the 39059 zip code in Crystal Springs as Mississippi's best real estate investment market. Here's why.

πŸ”Ž Key data about Crystal Springs

Data pointValueRank in state (of 580 markets)
Zip code39059N/A
InvestScore 100Highest
Typical property value $117,511[1]32nd lowest
Five-year appreciation 27.09%[2]79th highest
Household income $52,583[3]71st highest
Affordability ratio 2.215th most affordable
Five-year population growth 1.0%[4]63rd highest
Unemployment rate 2.9%[5]15th lowest
Property taxes $799[6]30th lowest
Educational attainment 22.6%[7]52nd highest
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Crystal Springs (zip code 39059) is the best residential real estate investment market in Mississippi. It has the 79th highest property value appreciation among markets we evaluated, with a 27.09% appreciation of the typical property over the last five years.

Crystal Springs is the 15th most affordable market among the 580 Mississippi markets we evaluated, with an affordability ratio of 2.2.

2. Mount Olive

The 39119 zip code in Mount Olive is Mississippi's second-best residential real estate investment market.

πŸ”Ž Key data about Mount Olive

Data pointValueRank in state (of 580 markets)
Zip code39119N/A
InvestScore 98.22nd highest
Typical property value $126,407[8]37th lowest
Five-year appreciation 24.34%[9]92nd highest
Household income $63,179[10]37th highest
Affordability ratio 2.09th most affordable
Five-year population growth 10.7%[11]22nd highest
Unemployment rate 6.9%[12]90th lowest
Property taxes $526[13]3rd lowest
Educational attainment 18.5%[14]88th highest
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The 39119 zip code in Mount Olive features a typical property value of $126,407, the 37th lowest in the state.

Property values have appreciated 24.34% over the past five years, the 92nd highest increase among evaluated markets in the state. Mount Olive homes have an affordability ratio of 2.0, the 9th most affordable in the state.

3. Batesville

The 38606 zip code in Batesville comes in at No. 3 in our ranking of residential real estate investment markets in Mississippi.

πŸ”Ž Key data about Batesville

Data pointValueRank in state (of 580 markets)
Zip code38606N/A
InvestScore 94.73rd highest
Typical property value $179,912[15]81st lowest
Five-year appreciation 55.22%[16]3rd highest
Household income $59,444[17]49th highest
Affordability ratio 3.058th most affordable
Five-year population growth 2.6%[18]56th highest
Unemployment rate 6.2%[19]78th lowest
Property taxes $830[20]37th lowest
Educational attainment 22.2%[21]56th highest
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With a typical property value of $179,912, Batesville's 38606 zip code features the 81st lowest property values in the state.

Batesville homes have an affordability ratio of 3.0, the 58th most affordable among the markets we evaluated.

4. Caledonia

The 39740 zip code in Caledonia ranks No. 4 among Mississippi's residential real estate investment markets.

πŸ”Ž Key data about Caledonia

Data pointValueRank in state (of 580 markets)
Zip code39740N/A
InvestScore 94.64th highest
Typical property value $238,980[22]122nd lowest
Five-year appreciation 33.40%[23]61st highest
Household income $83,419[24]61st highest
Affordability ratio 2.942nd most affordable
Five-year population growth 10.9%[25]20th highest
Unemployment rate 2.4%[26]8th lowest
Property taxes $730[27]22nd lowest
Educational attainment 28.1%[28]33rd highest
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Property values in Caledonia's 39740 zip code have seen the 61st highest increase among evaluated markets in the state, with an appreciation of 33.40% over the past five years.

Caledonia's affordability ratio of 2.9 makes it the 42nd most affordable among the 580 markets we evaluated.

5. Byram

The 39272 zip code in Byram rounds out our top five residential real estate investment markets in Mississippi.

πŸ”Ž Key data about Byram

Data pointValueRank in state (of 580 markets)
Zip code39272N/A
InvestScore 93.65th highest
Typical property value $202,242[29]98th lowest
Five-year appreciation 41.15%[30]31st highest
Household income $72,209[31]31st highest
Affordability ratio 2.838th most affordable
Five-year population growth 7.4%[32]31st highest
Unemployment rate 4%[33]34th lowest
Property taxes $1,343[34]108th lowest
Educational attainment 34.9%[35]18th highest
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Property values in Byram's 39272 zip code rose 41.15% over the last five years, ranking the city 31st highest among evaluated markets in Mississippi.

Byram homes have an affordability ratio of 2.8, the 38th most affordable among the markets we evaluated.

How we rank residential real estate markets in Mississippi

We evaluated 580 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in Mississippi.

What is InvestScore?

InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.

  • Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
  • Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
  • Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income. We assign a weight of 10% to median household income.
  • Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
  • Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
  • Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
  • Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
  • Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates  local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.

Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.

Article Sources

[1] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[2] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[7] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[8] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[9] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[14] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[15] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[16] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[21] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[22] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[23] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[28] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.
[29] Zillow – "Zillow Home Value Index". Updated March 31, 2024.
[30] Zillow – "Zillow Home Value Index, difference over last five years". Updated March 31, 2024.
[35] U.S. Census – "U.S. Census Table S1501 - Educational Attainment 2018-2022". Updated 2018-2022.

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Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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