Real Estate Investing in New Albany, Mississippi (38652)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38652 (New Albany, MS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.8% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Albany, MS (38652)?
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Market Analysis: 38652 New Albany
Investors eyeing 38652 need to respect the fundamentals at play. Home values of $212K come alongside slower price movement and elevated management overhead.
On balance, the numbers look inviting — $212K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38652 is substantial and deserves full respect.
Regionally, 38652 sits on the difficult end of the MS spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 38652 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 38652 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in New Albany:
Property Strategy for 38652
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $139,749 | $900 | 4.6% | +7.0% | $69,875 |
| 3BR | $237,444 | $1,090 | 3.3% | +8.0% | $79,148 |
| 4BR | $340,423 | $1,360 | 2.9% | +8.0% | $85,106 |
Market Trends
Home Value History (with trend line)
📊 How Does 38652 Compare?
| Metric | 38652 | New Albany | Mississippi |
|---|---|---|---|
| Home Value | $211,995 | $211,995 | $186,446 |
| 5-Year CAGR | 4.7% | 4.7% | 4.0% |
| Avg Rent | $810 | $810 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38652 (New Albany, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $211,995 |
| Monthly Rent | $810 |
| Price-to-Rent | 21.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.7% |
📈 Home Appreciation
| 1-Year | +14.0% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (3.0%). 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 38652
Population: 15,540
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 38652
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
Is New Albany, MS a good place for real estate investing?
New Albany, MS registers an investability rating of 3.0/5, with median home values near $212K and average rents around $810/mo. That combination puts it in the durable tier for investor interest.
How much rent can I charge in New Albany, MS?
Rents in New Albany, MS run near $810/mo. Compared with median home prices of $212K that produces solid gross yields for typical rentals.
What is it like being a landlord in New Albany, MS?
MS law landlord-friendly for landlords, and New Albany inherits those rules. Investors should still review local ordinances for rental licensing.
Is vacancy a concern in New Albany, MS?
Expect elevated vacancy in New Albany, MS. Rents at $810/mo are absorbed by the tenant base without meaningful lag.
Does house hacking work in New Albany, MS?
House hacking in New Albany, MS is reasonable to execute. Prices around $212K and rents of $810/mo solid owner-occupant economics.
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