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 1,805 people, 571 houses or apartments, and a median cost of homes of $132,802, house prices in Wesson are solidly below the national average.
Single-family detached homes are the single most common housing type in Wesson, accounting for 75.49% of the town's housing units. Other types of housing that are prevalent in Wesson include mobile homes or trailers ( 15.98%), large apartment complexes or high rise apartments ( 6.39%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.67%).
The most prevalent building size and type in Wesson are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.68% owning and 51.32% renting.
There is a lot of housing in Wesson 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 Wesson built between 2000 and later ( 19.18%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.92%). There's also some housing in Wesson built before 1939 ( 14.31%).
Vacant housing appears to be an issue in Wesson. Fully 13.09% of the housing stock is classified as vacant. Left unchecked, vacant Wesson homes and apartments can be a drag on the real estate market, holding Wesson 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 Wesson, where house values have increased just 43.71%, which is annualized rate of 3.69%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Wesson appreciation rates have trailed the rest of the nation. In the last twelve months, Wesson's appreciation rate has been 5.79%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wesson were at 7.67%, which equates to an annual appreciation rate of 34.41%.
Importantly, this makes Wesson 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 Wesson's latest annual appreciation rate is lower than 80% of the other cities and towns in Mississippi.
$132,802
for Mississippi
for nation
571
$1,679 / per month