Real Estate Investing in Waveland, Mississippi (39576)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 39576 (Waveland, MS)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.4% 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 Waveland, MS (39576)?
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Market Analysis: 39576 Waveland
Not every below-median market is a bargain. Waveland's 39576 ZIP posts signals that favor experienced operators who can absorb the risk $218K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 39576 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within MS, ZIP 39576 trails on several market indicators that neighboring Hancock County submarkets outperform. The gap is real and durable enough to shape underwriting.
Demographically, 39576 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 39576 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 Waveland:
Property Strategy for 39576
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $149,986 | $1,010 | 4.8% | +6.3% | $74,993 |
| 3BR | $206,859 | $1,310 | 4.6% | +6.0% | $68,953 |
| 4BR | $280,411 | $1,430 | 3.7% | +5.5% | $70,103 |
Market Trends
Home Value History (with trend line)
📊 How Does 39576 Compare?
| Metric | 39576 | Waveland | Gulfport-Biloxi, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $217,719 | $217,719 | N/A | $186,446 |
| 5-Year CAGR | 3.6% | 3.6% | N/A | 4.0% |
| Avg Rent | $909 | $909 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 39576 (Waveland, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $217,719 |
| Monthly Rent | $909 |
| Price-to-Rent | 20.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +3.6% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 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 (3.3%). 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 39576
Population: 6,249
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 39576
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
Is the tenant base reliable in Waveland, MS?
The renter base in Waveland, MS is reasonable for the $909/mo price point. Screening well and pricing to market typically yields measured tenants.
Is MS a landlord-friendly state?
The landlord environment in Waveland, MS is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Can I live-in-and-rent in Waveland, MS?
House hacking in Waveland, MS is a challenging. With home values around $218K and rents at $909/mo, owner-occupants can offset a meaningful share of PITI.
How much do tenants pay in Waveland, MS?
Expect rents around $909/mo per month in Waveland, MS. With home values at $218K, the yield math works out to reasonable levels for rental investors.
Should investors consider Waveland, MS?
The 3.0/5 investability rating in Waveland, MS reflects its $218K prices and $909/mo rents. Investors generally consider it a solid option within MS.
You know 39576 now. You don’t know where it ranks.
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How 39576 ranks in Gulfport-Biloxi, MS
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