Hernando, MS—38632
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hernando, MS
As of Oct '25, the median home price in Hernando, MS is $340,000, with a year-over-year change of 1.0%. This indicates that home prices in Hernando, MS are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $340,000 | 1.0% |
| Single Family | $340,000 | 1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $202,000 | 4.1% |
3 Bed | $295,000 | 1.4% |
4 Bed | $392,000 | 0.8% |
| 5 Bed | $478,000 | 0.6% |
% of Housing Stock
Rental Trends — Hernando, MS
As of July '25, Rentcast reports the average rent in Hernando, MS is $2,190, with a year-over-year rent change of 7.4%. Per bedroom, the median rent as of July '25 in Hernando, MS is 2-bedrooms: $2,220, 3-bedrooms: $1,900, 4-bedrooms: $2,430. The most common rental property sizes in Hernando, MS are 2-bedroom and 3-bedroom, accounting for 39.6% and 18.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,190 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,400 | $2,220 |
| 3 Bed Rent | $1,950 | $1,900 |
| 4 Bed Rent | $2,280 | $2,430 |
% of Rental Stock
Property Listings — Hernando, MS
As of Oct '25, Realtor.com reports that the median days on market for a home in Hernando, MS is 78. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $423,000 | 4.0% |
Listing Count | 239 | -3.0% |
| Listings as % of Homes | 1.1% | -3.0% |
Days on Market | 78 | 1.0% |
Demographics — Hernando, MS
As of the latest ACS Survey released in 2023, Hernando, MS has a population of 30,800, which has increased by 12.8% over the past 5 years. Hernando, MS is a popular place for families, as children make up 25.4% of the population. The area has a moderately educated workforce, with 35.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,800 | 12.8% |
% Under 18 | 25.4% | 5.0% |
% Seniors | 16.7% | 5.7% |
% WFH | 8.8% | 131.6% |
% w/ College Degree | 35.9% | 33.0% |
As of the latest ACS Survey released in 2023, Hernando, MS is a predominantly white area, with 81.2% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Hernando, MS is black, making up 12.5% of the population. Foreign-born residents account for 1.8% of the population in Hernando, MS, and this percentage has decreased by 28.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.2% | -2.2% |
% Black | 12.5% | 12.6% |
% Hispanic | 1.7% | -57.5% |
% Asian | 0.8% | 100.0% |
% Foreign Born | 1.8% | -28.0% |
Mortgage and Risk — Hernando, MS
According to HUD data as of 2023, there were 438 mortgage originations in Hernando, MS, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Hernando, MS. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 438 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Hernando, MS
Hernando, MS lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 96 |
Total Units Section 8 | 96 |
% Rentals under Section 8 | 7.3% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,240 |
| 2 Bedroom | -$1,010 | $2,400 | $1,390 |
| 3 Bedroom | -$120 | $1,950 | $1,830 |
| 4 Bedroom | -$140 | $2,280 | $2,140 |
Affordability — Hernando, MS
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $340,000 |
| Median Household Income | $90,300 |