39464, Ovett, MS

Home Equity and Home Prices in the 39464 Zip Code of Ovett, MS

The 39464 zip code of Ovett, MS has a median home value of $119,000. This is higher than the Mississippi median home value of $92,500. The highest home values are found in the affluent neighborhoods around town while the lowest values are found in some of the more rural areas. The 39464 zip code also has a high rate of homeownership at 87%. This is higher than the state average rate of 65%.

The reason for this high rate of homeownership is likely due to the many affluent families who live in this area. These families may be able to afford a higher price tag for homes because they can afford to pay down their mortgage faster or have more money available for other investments such as stocks or bonds. Additionally, there are few rental properties available in this area which limits competition for homes and drives up prices.

Despite these high rates of homeownership and home equity, there have been some recent trends that could impact home prices in this area over time. For example, there has been an increase in retirees moving into this area which may lead to an increased demand for housing but also could lead to increased competition for homes since retirees typically do not need as much space as someone who is currently working. Additionally, while job growth has been strong recently within the city limits, it may not be as strong outside of those boundaries which could lead to less demand for homes within those areas and thus lower prices overall.