Water Valley, MS—38965
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Water Valley, MS
Water Valley, MS lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $179,000 | -7.0% |
| Single Family | $178,000 | -7.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $138,000 | -4.8% |
3 Bed | $180,000 | -7.7% |
4 Bed | $235,000 | -4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Water Valley, MS
As of July '25, Rentcast reports the average rent in Water Valley, MS is $1,500, with a year-over-year rent change of 87.5%. Per bedroom, the median rent as of July '25 in Water Valley, MS is 2-bedrooms: $1,500. The most common rental property sizes in Water Valley, MS are 3-bedroom and 2-bedroom, accounting for 65.1% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,500 | $1,500 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Water Valley, MS
As of Oct '25, Realtor.com reports that the median days on market for a home in Water Valley, MS is 76. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter 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 | $295,000 | -19.0% |
Listing Count | 26 | -5.0% |
| Listings as % of Homes | 0.2% | -5.0% |
Days on Market | 76 | -12.0% |
Demographics — Water Valley, MS
As of the latest ACS Survey released in 2023, Water Valley, MS has a population of 8,800, which has increased by 1.6% over the past 5 years. Water Valley, MS is a moderately popular place for families, as children make up 21.8% of the population. The area has a poorly educated workforce, with 15.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,800 | 1.6% |
% Under 18 | 21.8% | -10.3% |
% Seniors | 21.2% | 13.4% |
% WFH | 2.5% | 257.1% |
% w/ College Degree | 15.1% | -18.4% |
As of the latest ACS Survey released in 2023, Water Valley, MS is a predominantly white area, with 65.0% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Water Valley, MS is black, making up 30.3% of the population. Foreign-born residents account for 0.3% of the population in Water Valley, MS, and this percentage has decreased by 25.0% 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 | 65.0% | -3.4% |
% Black | 30.3% | -5.3% |
% Hispanic | 1.0% | 66.7% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.3% | -25.0% |
Mortgage and Risk — Water Valley, MS
According to HUD data as of 2023, there were 78 mortgage originations in Water Valley, MS, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Water Valley, MS. Investor activity is low, as 6.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 78 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 6.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Water Valley, MS
Water Valley, MS lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 232 |
Total Units Section 8 | 32 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $960 |
| 2 Bedroom | -$360 | $1,500 | $1,140 |
| 3 Bedroom | N/A | N/A | $1,370 |
| 4 Bedroom | N/A | N/A | $1,510 |
Affordability — Water Valley, MS
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $179,000 |
| Median Household Income | $57,400 |