Real Estate Investing in Blue Springs, Mississippi (38828)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38828 (Blue Springs, 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: 20.7% 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 Blue Springs, MS (38828)?
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Market Analysis: 38828 Blue Springs
ZIP 38828 in Blue Springs, MS carries a significant set of headwinds. Home values near $205K and rents of $891/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 38828 can be a a strong candidate for hunting ground — but the discount at $205K reflects genuine risk that outside investors often underestimate.
Within MS, ZIP 38828 trails on several market indicators that neighboring Union County submarkets outperform. The gap is real and substantial enough to shape underwriting.
The 38828 ZIP's population of 4,532 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
Distressed ZIPs reward experience. significant returns are possible in 38828, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Blue Springs:
Market Trends
Home Value History (with trend line)
📊 How Does 38828 Compare?
| Metric | 38828 | Blue Springs | Tupelo, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $204,700 | $204,700 | N/A | $186,446 |
| 5-Year CAGR | 4.1% | 4.1% | N/A | 4.0% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38828 (Blue Springs, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $204,700 |
| Monthly Rent | $891 |
| Price-to-Rent | 19.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | +14.2% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 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 (3.4%). 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 38828
Population: 4,532
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 38828
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 much is rent in Blue Springs, MS?
Rents in Blue Springs, MS run near $891/mo. Compared with median home prices of $205K that produces solid gross yields for typical rentals.
Are renters plentiful in Blue Springs, MS?
Blue Springs, MS draws a consistent base of working renters. Demand at the $891/mo rent level is reasonable for standard single-family and small multi rentals.
What is the rental occupancy rate in Blue Springs, MS?
Occupancy in Blue Springs, MS runs consistent with elevated vacancy. Well-priced units at $891/mo lease on reasonable timelines.
Can owner-occupants cash flow in Blue Springs, MS?
Blue Springs, MS is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $205K price point reasonable to enter.
Which real estate strategy fits Blue Springs, MS?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Blue Springs, MS. The numbers - $205K homes against $891/mo rents - support that play.
You know 38828 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38828 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 38828 ranks in Tupelo, MS
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