Real Estate Investing in Amory, Mississippi (38821)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38821 (Amory, 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: 14.6% 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 Amory, MS (38821)?
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Market Analysis: 38821 Amory
The 38821 ZIP covers a section of Amory that demands careful diligence. Prices near $170K look accessible, but the work to make a deal cash flow is real.
Rent of $765/mo on a $170K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 38821 sits below the stated 0.0% once reality is priced in.
Meanwhile, 38821 offers a low basis, the region around Amory has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A robust renter share of 25% in 38821 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 38821 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Amory:
Market Trends
Home Value History (with trend line)
📊 How Does 38821 Compare?
| Metric | 38821 | Amory | Mississippi |
|---|---|---|---|
| Home Value | $169,619 | $169,619 | $186,446 |
| 5-Year CAGR | 5.1% | 5.1% | 4.0% |
| Avg Rent | $765 | $765 | - |
| Cap Rate | 3.5% | 3.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38821 (Amory, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $169,619 |
| Monthly Rent | $765 |
| Price-to-Rent | 18.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +8.5% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +4.3% ▲ |
🏠 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 (3.5%). 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 38821
Population: 12,417
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 38821
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
How tight is the rental market in Amory, MS?
Occupancy in Amory, MS runs even-keeled with elevated vacancy. Well-priced units at $765/mo lease on reasonable timelines.
What is the average home sale price in Amory, MS?
The median home value in Amory, MS is roughly $170K. That puts it reasonable relative to the MS statewide average.
What is the average monthly rent in Amory, MS?
Rental rates in Amory, MS average $765/mo. Tenant demand and $170K home values make the yield look reasonable by investor standards.
Does house hacking make sense in Amory, MS?
The house hack math a challenging in Amory, MS. Owner-occupant buyers benefit from the $765/mo rents and $170K home values.
How do experienced investors play Amory, MS?
In Amory, MS the significant play is typically careful cash-flow rentals with hands-on management. The combination of $170K prices and $765/mo rents suits that approach.
You know 38821 now. You don’t know where it ranks.
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