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 1,376, 536 total housing units (homes and apartments), and a median house value of $243,356, Walls real estate is some of the most expensive in Mississippi, although Walls home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Walls, accounting for 57.75% of the town's housing units. Other types of housing that are prevalent in Walls include large apartment complexes or high rise apartments ( 36.22%), duplexes, homes converted to apartments or other small apartment buildings ( 5.06%).
The most prevalent building size and type in Walls are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 37.69% owning and 62.31% renting.
There is a lot of housing in Walls 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 Walls built between 2000 and later ( 38.50%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.01%). There's also some housing in Walls built before 1939 ( 1.47%).
Vacant housing appears to be an issue in Walls. Fully 12.56% of the housing stock is classified as vacant. Left unchecked, vacant Walls homes and apartments can be a drag on the real estate market, holding Walls 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 Walls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.44% during the period.
Appreciation rates are so strong in Walls that despite a nationwide downturn in the housing market, Walls real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Walls appreciation rates continue to be some of the highest in America, at 15.81%, which is higher than appreciation rates in 89.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Walls. Walls appreciation rates in the latest quarter were at 5.60%, which equates to an annual appreciation rate of 24.37%.
Importantly, this makes Walls one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Mississippi, our data show that Walls's latest annual appreciation rate is higher than 90% of the other cities and towns in Mississippi.
$243,356
for Mississippi
for nation
536
$1,787 / per month