Shannon, MS—38868
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shannon, MS
As of Oct '25, the median home price in Shannon, MS is $149,000, with a year-over-year change of 5.2%. This indicates that home prices in Shannon, MS are increasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $149,000 | 5.2% |
| Single Family | $149,000 | 5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Shannon, MS
As of July '25, Rentcast reports the average rent in Shannon, MS is $390, with a year-over-year rent change of -71.1%. Per bedroom, the median rent as of July '25 in Shannon, MS is 2-bedrooms: $450, 3-bedrooms: $300. The most common rental property sizes in Shannon, MS are 2-bedroom and 3-bedroom, accounting for 38.9% and 38.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $300 | $390 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $250 | $450 |
| 3 Bed Rent | $300 | $300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Shannon, MS
As of Oct '25, Realtor.com reports that the median days on market for a home in Shannon, MS is 75. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $254,000 | 10.0% |
Listing Count | 7 | -17.0% |
| Listings as % of Homes | 0.6% | -17.0% |
Days on Market | 75 | 28.0% |
Demographics — Shannon, MS
As of the latest ACS Survey released in 2023, Shannon, MS has a population of 4,700, which has decreased by -13.1% over the past 5 years. Shannon, MS is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 21.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,700 | -13.1% |
% Under 18 | 25.5% | 2.0% |
% Seniors | 19.3% | 52.0% |
% WFH | 3.4% | 17.2% |
% w/ College Degree | 21.9% | 112.6% |
As of the latest ACS Survey released in 2023, Shannon, MS is a predominantly white area, with 51.1% of the population identifying as white. The white population has grown by 0.6% in the last 5 years. The second most common race or ethnicity in Shannon, MS is black, making up 43.5% of the population. Foreign-born residents account for 2.0% of the population in Shannon, MS, and this percentage has increased by 400.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 51.1% | 0.6% |
% Black | 43.5% | -4.8% |
% Hispanic | 2.7% | 8.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 2.0% | 400.0% |
Mortgage and Risk — Shannon, MS
According to HUD data as of 2023, there were 68 mortgage originations in Shannon, MS, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Shannon, MS. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 68 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Shannon, MS
Shannon, MS lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 50 |
Total Units Section 8 | 50 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 79.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | $740 | $250 | $990 |
| 3 Bedroom | $940 | $300 | $1,240 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Shannon, MS
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $149,000 |
| Median Household Income | $53,000 |