What is the average home price in Shannon, MS 38868?

As of May '26, the median home price in Shannon, MS 38868 is $171,000, based on Zillow home estimates.

How have home prices in Shannon, MS 38868 changed over the past year?

As of May '26, home prices have increased 8.2% over the past year, according to Zillow home estimates data.

What is the home price projection for Shannon, MS 38868?

As of May '26, Zillow projects home prices in Shannon, MS 38868 to increase 0.7% in the next year.

What are the demographics of Shannon, MS 38868?

According to the latest Census, the demographics of Shannon, MS 38868 are 51.1% White, 43.5% Black, 0.0% Asian, 2.7% Hispanic. The population is 4,700, with 25.5% under 18 years old.

How long does it take homes to sell in Shannon, MS 38868?

According to Realtor.com, as of May '26, the median home in Shannon, MS 38868 is on the market for 99 days. This is an increase of 20.0% from last year.

What is the average rent price in Shannon, MS 38868?

The average rent price in Shannon, MS 38868, as of the latest data, is $390. The average rent for 1 bedroom homes is N/A. For 2, 3, and 4 bedroom homes, the average rent is $450, $300, and N/A respectively.

Shannon, MS 38868 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Shannon, MS—38868

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$171,000

8.2% YoY Growth

Household Income

$53,000

46.4% YoY Growth

Days on Market

20.0% Longer YoY

Home Price Forecast

0.7%

Median Rent

$300

71.1% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$250

N/A

3-Bed Rent

$300

N/A

Home Price Trends — Shannon, MS

As of May '26, the median home price in Shannon, MS is $171,000, with a year-over-year change of 8.2%. This indicates that home prices in Shannon, MS are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$171,000	8.2%
Single Family	$170,000	8.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

15.2%

1 Bedroom

4.7%

2 Bedrooms

38.9%

3 Bedrooms

38.5%

4 Bedrooms

2.8%

Property Listings — Shannon, MS

As of May '26, Realtor.com reports that the median days on market for a home in Shannon, MS is 99. This is a increase of 20.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$250,000	-10.0%
Listing Count	10	68.0%
Listings as % of Homes	0.6%	68.0%
Days on Market	99	20.0%

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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%

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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%

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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%

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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

Shannon, MS—38868

Key Metrics at a Glance

Home Price Trends — Shannon, MS

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Shannon, MS

% of Rental Stock

Property Listings — Shannon, MS

Demographics — Shannon, MS

Race and Ethnicity

Mortgage and Risk — Shannon, MS

Mortgages

Rentals and Section 8 — Shannon, MS

Section 8 Market Size

Section 8 Opportunity

Affordability — Shannon, MS

Home Price to Income Ratio

Shannon, MS — ZIP Code Boundary Map

Nearby ZIP Codes

Tupelo, MS

Plantersville, MS

Okolona, MS

Tupelo, MS

Belden, MS

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$171,000
Median Household Income	$53,000