Real Estate Investing in Booneville, Mississippi (38829)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38829 (Booneville, MS)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 15.7% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.3% CAGR).
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Booneville, MS (38829)?
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Market Analysis: 38829 Booneville
Investors eyeing 38829 need to respect the fundamentals at play. Home values of $147K come alongside slower price movement and elevated management overhead.
Rent of $756/mo on a $147K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 38829 sits below the stated 0.0% once reality is priced in.
The gap between 38829 and stronger Booneville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A resilient renter share of 24% in 38829 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 38829 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 Booneville:
Market Trends
Home Value History (with trend line)
📊 How Does 38829 Compare?
| Metric | 38829 | Booneville | Tupelo, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $146,551 | $146,551 | N/A | $186,446 |
| 5-Year CAGR | 0.3% | 0.3% | N/A | 4.0% |
| Avg Rent | $756 | $756 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38829 (Booneville, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $146,551 |
| Monthly Rent | $756 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 4.3% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | -0.1% ▼ |
| 5-Year CAGR | +0.3% ▲ |
| 10-Year CAGR | +0.8% ▲ |
🏠 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 (4.0%). 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 38829
Population: 18,036
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 38829
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 821 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is it easy to find good tenants in Booneville, MS?
Booneville, MS draws a stable base of working renters. Demand at the $756/mo rent level is reasonable for standard single-family and small multi rentals.
What is the typical vacancy rate in Booneville, MS?
Vacancy risk in Booneville, MS is elevated. That supports stable cash flow for typical rental holds.
What price range are homes in Booneville, MS?
Typical homes in Booneville, MS go for around $147K. The 5-year CAGR of 0.0% consistent price movement.
What type of investing works in Booneville, MS?
Booneville, MS investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($147K prices, $756/mo rents) make it a reasonable choice.
How do landlord-tenant laws work in Booneville, MS?
Rental owners in Booneville, MS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 38829 now. You don’t know where it ranks.
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