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 Holly Springs according to our analysis.
Here’s a look at the top ten places to buy a home in Mississippi for 2019:
- Holly Springs (Photos | Homes For Sale)
- Pontotoc (Photos | Homes For Sale)
- Corinth (Photos | Homes For Sale)
- Richland (Homes For Sale)
- Laurel (Photos | Homes For Sale)
- Bay St. Louis (Photos | Homes For Sale)
- Pass Christian (Photos | Homes For Sale)
- Forest (Photos | Homes For Sale)
- Horn Lake (Photos | Homes For Sale)
- New Albany (Photos | Homes For Sale)
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.
For more Mississippi reading, check out:
- These Are The 10 Best Counties To Live In Mississippi
- 10 Best Places To Raise A Family In Mississippi
- These Are The 10 Best Places To Retire In Mississippi
How do you determine the best places to buy a home in Mississippi for 2019?
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 2013-2017 and compared it to the previous vintage (2012-2016). 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 62 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 62 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 Holly Springs is the best potential gem in the not-so-rough in the Magnolia State.
Read on for more on these places.
Holly Springs was founded by European Americans in 1836, on territory historically occupied by Chickasaw Indians for centuries before Indian Removal. They ceded most of their land under the Treaty of Pontotoc Creek of 1832. Most early US migrants were from Virginia, supplemented by migrants from Georgia and the Carolinas.
Pontotoc is a Chickasaw word meaning “Land of Hanging Grapes”.
Corinth was founded in 1853 as Cross City, so-called because it served as a junction for the Mobile & Ohio and Memphis & Charleston railroads. It was the town’s early newspaper editor, W. E. Gibson, who suggested the name of Corinth, named for the city in Greece that also served as a crossroads.
Laurel was founded in 1882 as a lumber town, as the industry harvested yellow pine forests in the region. The city was named for laurel thickets near the original town site.
The exact date when Native Americans first arrived in the Gulf Coast area is not known, but artifacts have been found suggesting that humans have inhabited the area for many thousands of years.
There You Have It – The Best Places To Purchase A House In Mississippi for 2019
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:
Detailed List Of The Best Places To Buy A Home In Mississippi
|Bay St. Louis||6|