Summit, MS is a great place to invest in housing. With a median value currently at $160,000, it is significantly lower than the US house median value of $338,100, making it an attractive and affordable investment option for first-time buyers. Additionally, the one-year house appreciation rate in Summit, MS is 12.50%, which is substantially higher than the US average appreciation rate of 8.27%. This makes investing in housing in Summit an even better decision since your investment will likely yield a greater return over time.
The median home cost in Summit is $160,000. Home appreciation the last 10 years has been 51.9%. Home Appreciation in Summit is up 14.5%.
Average Age of Homes
- The median age of Summit real estate is 43 years old
The Rental Market in Summit
- Renters make up 31.6% of the Summit population
- 3.4% of houses and apartments in Summit, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.