Waveland, MS—39576
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waveland, MS
As of Oct '25, the median home price in Waveland, MS is $205,000, with a year-over-year change of -5.6%. This indicates that home prices in Waveland, MS are decreasing. According to Zillow, the 1-year price projection is -0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $205,000 | -5.6% |
| Single Family | $205,000 | -6.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $150,000 | -8.5% |
3 Bed | $207,000 | -4.6% |
4 Bed | $280,000 | -3.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Waveland, MS
As of July '25, Rentcast reports the average rent in Waveland, MS is $1,530, with a year-over-year rent change of -21.9%. Per bedroom, the median rent as of July '25 in Waveland, MS is 1-bedrooms: $738, 2-bedrooms: $1,460, 3-bedrooms: $1,950, 4-bedrooms: $1,750. The most common rental property sizes in Waveland, MS are 3-bedroom and 2-bedroom, accounting for 37.2% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,530 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $500 | $738 |
| 2 Bed Rent | $1,300 | $1,460 |
| 3 Bed Rent | $1,700 | $1,950 |
| 4 Bed Rent | $1,750 | $1,750 |
% of Rental Stock
Property Listings — Waveland, MS
As of Oct '25, Realtor.com reports that the median days on market for a home in Waveland, MS is 96. This is a increase of 7.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $349,000 | 8.0% |
Listing Count | 62 | -16.0% |
| Listings as % of Homes | 0.8% | -16.0% |
Days on Market | 96 | 7.0% |
Demographics — Waveland, MS
As of the latest ACS Survey released in 2023, Waveland, MS has a population of 6,250, which has increased by 7.9% over the past 5 years. Waveland, MS is a moderately popular place for families, as children make up 21.8% of the population. The area has a moderately educated workforce, with 25.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,250 | 7.9% |
% Under 18 | 21.8% | -12.8% |
% Seniors | 17.3% | 10.2% |
% WFH | 6.4% | 128.6% |
% w/ College Degree | 25.3% | 15.0% |
As of the latest ACS Survey released in 2023, Waveland, MS is a predominantly white area, with 75.7% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Waveland, MS is black, making up 13.4% of the population. Foreign-born residents account for 4.3% of the population in Waveland, MS, and this percentage has increased by 72.0% 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 | 75.7% | -3.8% |
% Black | 13.4% | -13.0% |
% Hispanic | 3.9% | 39.3% |
% Asian | 0.6% | -14.3% |
% Foreign Born | 4.3% | 72.0% |
Mortgage and Risk — Waveland, MS
According to HUD data as of 2023, there were 113 mortgage originations in Waveland, MS, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Waveland, MS. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 113 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 5.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Waveland, MS
As of 2024, the percent of homes in Waveland, MS under the Section 8 program is 22.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Waveland, MS, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 246 |
Total Units Section 8 | 246 |
% Rentals under Section 8 | 22.3% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $500 | $840 |
| 2 Bedroom | -$260 | $1,300 | $1,040 |
| 3 Bedroom | -$320 | $1,700 | $1,380 |
| 4 Bedroom | -$280 | $1,750 | $1,470 |
Affordability — Waveland, MS
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $205,000 |
| Median Household Income | $60,400 |