There’s a the age old question everyone thinks about when they decide to move to a city in Mississippi:
Should I buy a place or rent?
Well, we aren’t here today to solve that problem for you exactly. We are just assuming you’ll do the right thing and a buy a place 😉
And while we are happy to tell you the best place to live in Mississippi, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Magnolia State.
To do that we are going to look at places in Mississippi that are growing faster than average, but where home prices are below average. In every day terms, the ‘deals’.
The best deal in Mississippi at the moment? That would be Booneville according to our analysis.
Here’s a look at the top ten places to buy a home in Mississippi:
- Booneville (Homes)
- Amory (Photos | Homes)
- Grenada (Photos | Homes)
- Horn Lake (Photos | Homes)
- Natchez (Photos | Homes)
- Brookhaven (Photos | Homes)
- Pearl (Photos | Homes)
- Columbus (Photos | Homes)
- Picayune (Photos | Homes)
- Hattiesburg (Photos | Homes)
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
If you’re not worried about finding a deal on good places to live, check out the most expensive places to live in Mississippi and, for those of you on a budget, the cheapest places to live in Mississippi.
How do you determine the best places to buy a home in Mississippi?
We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we’ve put a lot of thought into what goes into finding a good place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in Mississippi. Put differently, the analysis will try to find places in Mississippi with undervalued homes relative to pent up demand.
To do that we looked at the most recent American Community Survey Census data for 2012-2016 and compared it to the previous vintage (2011-2015). Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still ‘cheap’ for Mississippi with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 362 cities and towns in Mississippi, only 11 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 11 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a ‘best place to buy’ index with the place having the lowest index being the best.
Turns out that Booneville is the best potential gem in the not-so-rough in the Magnolia State.
Read on for more on these places.
The land of Booneville was bought by B.B. Boone, G.W. Williams, and W.P. Curlee from the Chickasaw tribesman Le-Ho-Yea. The community was named for R.H. Boone, a relative of Daniel Boone, the early American pioneer.
Amory began as a planned railroad town. The Kansas City, Memphis & Birmingham Railroad needed a midpoint between Memphis, Tennessee and Birmingham, Alabama for their locomotives, and they laid out the new town of Amory in 1887. People from nearby Cotton Gin Port on the Tombigbee River abandoned their town and moved to Amory.
Grenada was formed in 1836, after federal removal of the Choctaw who had long occupied this territory. It was the result of the union of the two adjacent towns (separated by the present-day Line Street) of Pittsburg and Tulahoma, founded respectively by European Americans Franklin Plummer and Hiram Runnels. Development included stores and businesses that supported the county court and market days.
4. Horn Lake
Brookhaven is located in what was formerly Choctaw Indian territory. The city was founded in 1818 by Samuel Jayne from New York, who named it after the Town of Brookhaven on Long Island.
After the American Civil War, the bottomlands of the Pearl River were developed for agriculture. Population was sparse until the mid-1900s, when development of the state capital of Jackson in Hinds County to the west spilled over into this county. New residents and industry settled here. Thereafter, growth in the area came from the urban expansion of the capital, control of flood threats from the Pearl River, and improved transportation due to accessible interstates and Jackson-Evers International Airport.
The first record of the site of Columbus in Western history is found in the annals of the explorer Hernando de Soto, who is reputed to have crossed the nearby Tombigbee River on his search for El Dorado. However, the site does not enter the main continuity of American history until December 1810, when John Pitchlynn, the U.S. interpreter for the Choctaw Nation, moved to Plymouth Bluff where he built a home, established a farm and transacted Choctaw Agency business.
Picayune was founded in 1904, named by Eliza Jane Poitevent Nicholson, the owner and publisher of the New Orleans Daily Picayune, a newspaper named for the Spanish coin. The post office contains a mural, Lumber Regions of Mississippi, painted by Donald H. Robertson in 1940. Federally commissioned murals were produced from 1934 to 1943 in the United States through the Section of Painting and Sculpture, later called the Section of Fine Arts, of the Treasury Department.
This area was historically occupied by the Choctaw Native Americans, who had been in the region for hundreds of years. Their indigenous ancestors had communities for thousands of years before that. During European colonization, this area was first claimed by the French. Between 1763 and 1783 the area that is currently Hattiesburg fell under the jurisdiction of the colony of British West Florida. After the United States gained its independence, Great Britain ceded this and other areas to it after 1783. The United States gained a cession of lands from the Choctaw and Chickasaw under the terms of the Treaty of Mount Dexter in 1805. After the treaty was ratified, European-American settlers began to move into the area.
There You Have It – The Best Places To Purchase A House In Mississippi
There’s our analysis of the best places to buy a house in Mississippi. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 362 places in the state.
So if we’d could rent or buy in these cities, we’d definitely buy.
For more Mississippi reading, check out:
- 10 Most Ghetto Cities In Mississippi
- 10 Worst Places To Live In Mississippi
- 10 Most Dangerous Cities In Mississippi
Detailed List Of The Best Places To Buy A Home In Mississippi