Real Estate Investing in Hernando, Mississippi (38632)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38632 (Hernando, MS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Hernando, MS (38632)?
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Market Analysis: 38632 Hernando
The 38632 ZIP in Hernando, MS is a local-operator market. Outside capital chasing a $350K entry has to pair deep knowledge with the discount.
For an experienced owner, 38632 can be a a strong candidate for hunting ground — but the discount at $350K reflects genuine risk that outside investors often underestimate.
Within MS, ZIP 38632 trails on several market indicators that neighboring DeSoto County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Who lives in 38632 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 38632 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Hernando:
Property Strategy for 38632
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $201,586 | $1,290 | 4.6% | +5.5% | $100,793 |
| 3BR | $294,649 | $1,700 | 4.2% | +5.2% | $98,216 |
| 4BR | $392,430 | $1,980 | 3.6% | +4.7% | $98,107 |
| 5BR | $477,594 | — | — | +4.4% | $95,519 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38632 Compare?
| Metric | 38632 | Hernando | Memphis, TN-MS-AR | Mississippi |
|---|---|---|---|---|
| Home Value | $350,087 | $350,087 | N/A | $186,446 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 4.0% |
| Avg Rent | $2,279 | $2,279 | N/A | - |
| Cap Rate | 5.1% | 5.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38632 (Hernando, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $350,087 |
| Monthly Rent | $2,279 |
| Price-to-Rent | 12.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.8% |
| Cap Rate | 5.1% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | +12.1% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 38632
Population: 30,824
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 38632
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,218 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Hernando, MS a good market for buy-and-hold investors?
Investors tracking Hernando, MS will find a 3.0/5 rating supported by $350K median home values and $2,279/mo rents. That profile suits long-term holders targeting even-keeled returns.
Are rents high in Hernando, MS?
Rents in Hernando, MS run near $2,279/mo. Compared with median home prices of $350K that produces solid gross yields for typical rentals.
Is MS a landlord-friendly state?
The landlord environment in Hernando, MS is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What is the tenant pool like in Hernando, MS?
Expect a solid tenant pool in Hernando, MS. The rental market absorbs $2,279/mo rents without meaningful friction.
What type of investing works in Hernando, MS?
A careful cash-flow rentals with hands-on management strategy Hernando, MS best. The market produces stable results for that approach at the $350K price point.
You know 38632 now. You don’t know where it ranks.
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How 38632 ranks in Memphis, TN-MS-AR
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