The top rental markets in Mississippi are Laurel and Jackson.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Mississippi Rental Trends:
Mississippi is in the southeastern part of the U.S. and is full of affordable housing, music, beautiful landscapes, and a great culture. Investors won’t want to miss out on the great property deals this state has to offer. Here are some highlights from the top rental markets in the Magnolia State.
Days on Market:
The city with the lowest days on market is Jackson at 17 – a few days above the national average which sits at 15 days; Laurel has the highest number of days on market at 21.
The top two towns for the largest amount of leads per listing are above or around the national average sitting at 38. Here they are:
- Jackson – 41 leads per listing
- Laurel – 30 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Laurel comes below that with the lowest average rent of $672 for a two-bedroom compared to the highest rent in Mississippi at $819 in Jackson.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,000. Mississippi’s highest median sale price comes below that at $96,000 in Laurel with its lowest median sale price at $46,000 in Jackson.
Mississippi’s median income rings in at $38,910 – below the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in Mississippi’s cities between 2018 and 2019. With the largest being an increase of 25% in Jackson at $500, and the largest decrease at -10% in Laurel with the current average around $900 – both are well under the national average for security deposits which is $1,200.
All of Mississippi’s cities have a livability score of 62 or higher with the highest being Laurel at 64!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.