Real Estate Investing in Hickory Flat, Mississippi (38633)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38633 (Hickory Flat, 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.
- Elevated vacancy: 10.9% vacancy may signal weakening demand.
- Lower household income: $37,500 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hickory Flat, MS (38633)?
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Market Analysis: 38633 Hickory Flat
On the rental side, ZIP 38633 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $166K median. It rewards specialists, not generalists.
The investment case in 38633 is robust only for operators who understand what they are buying. A $166K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within MS, ZIP 38633 trails on several market indicators that neighboring Benton County submarkets outperform. The gap is real and healthy enough to shape underwriting.
On the rental side, 2,091 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 38633 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Hickory Flat:
Market Trends
Home Value History (with trend line)
📊 How Does 38633 Compare?
| Metric | 38633 | Hickory Flat | Mississippi |
|---|---|---|---|
| Home Value | $165,960 | $165,960 | $186,446 |
| 5-Year CAGR | 2.4% | 2.4% | 4.0% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 4.3% | 4.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38633 (Hickory Flat, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $165,960 |
| Monthly Rent | $918 |
| Price-to-Rent | 15.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +10.9% ▲ |
| 3-Year CAGR | +8.3% ▲ |
| 5-Year CAGR | +2.4% ▲ |
| 10-Year CAGR | +3.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.3%). 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 38633
Population: 2,091
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 38633
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
Frequently Asked Questions
What are home prices like in Hickory Flat, MS?
The median home value in Hickory Flat, MS is roughly $166K. That puts it reasonable relative to the MS statewide average.
How landlord-friendly is Hickory Flat, MS?
Landlord-friendliness in Hickory Flat, MS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is Hickory Flat, MS a good market for FHA house hackers?
Hickory Flat, MS offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $918/mo rent level.
What are rental rates like in Hickory Flat, MS?
Rental rates in Hickory Flat, MS average $918/mo. Tenant demand and $166K home values make the yield look reasonable by investor standards.
How strong is the working-renter base in Hickory Flat, MS?
Tenant demand in Hickory Flat, MS is solid. The local workforce $918/mo rents across most rental classes.
You know 38633 now. You don’t know where it ranks.
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