Real Estate Investing in Okolona, Mississippi (38860)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38860 (Okolona, 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.
- High vacancy: 12.4% of homes vacant — above national norms.
- Elevated poverty: 20.6% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Okolona, MS (38860)?
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Market Analysis: 38860 Okolona
Not every below-median market is a bargain. Okolona's 38860 ZIP clocks in at signals that favor experienced operators who can absorb the risk $126K pricing implies.
Rent of $891/mo on a $126K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 38860 sits below the stated 0.0% once reality is priced in.
Regionally, 38860 sits on the difficult end of the MS spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 38860 includes headwinds that any investor should price in. Income distribution skews lower than Okolona averages, and tenant stability requires active management.
The 38860 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 Okolona:
Property Strategy for 38860
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $84,061 | $990 | 8.5% | +5.9% | $42,030 |
| 3BR | $115,625 | $1,250 | 7.8% | +5.5% | $38,542 |
| 4BR | $171,969 | $1,420 | 5.9% | +5.6% | $42,992 |
Market Trends
Home Value History (with trend line)
📊 How Does 38860 Compare?
| Metric | 38860 | Okolona | Mississippi |
|---|---|---|---|
| Home Value | $126,191 | $126,191 | $186,446 |
| 5-Year CAGR | 3.1% | 3.1% | 4.0% |
| Avg Rent | $891 | $891 | - |
| Cap Rate | 5.5% | 5.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38860 (Okolona, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $126,191 |
| Monthly Rent | $891 |
| Price-to-Rent | 11.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.5% |
| Cap Rate | 5.5% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +3.4% ▲ |
🏠 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 (5.5%). 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 38860
Population: 6,313
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 38860
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.
Frequently Asked Questions
How much does a house cost in Okolona, MS?
Okolona, MS median home values land near $126K. That is reasonable territory for investors looking at $891/mo-per-month rentals.
What is the typical rental rate in Okolona, MS?
Rents in Okolona, MS run near $891/mo. Compared with median home prices of $126K that produces solid gross yields for typical rentals.
How strong is tenant demand in Okolona, MS?
The renter base in Okolona, MS is reasonable for the $891/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
How do landlord-tenant laws work in Okolona, MS?
Okolona, MS operates under MS law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
What real estate strategy is ideal for Okolona, MS?
A careful cash-flow rentals with hands-on management strategy Okolona, MS best. The market produces reliable results for that approach at the $126K price point.
You know 38860 now. You don’t know where it ranks.
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