Water Valley, MS housing market
The typical Water Valley home is worth about $186,000, up 2.5% in a year, 6% below the Mississippi typical home.
Home values, sales, trends and how Water Valley compares with the towns next door — updated as new data is published.
Water Valley at a glance
Typical home value, 2016–2026
Show as a table
| January | Water Valley | Mississippi |
|---|---|---|
| 2017 | $152,000 | $138,000 |
| 2018 | $150,000 | $140,000 |
| 2019 | $151,000 | $144,000 |
| 2020 | $157,000 | $150,000 |
| 2021 | $171,000 | $162,000 |
| 2022 | $200,000 | $185,000 |
| 2023 | $193,000 | $188,000 |
| 2024 | $187,000 | $188,000 |
| 2025 | $191,000 | $195,000 |
| 2026 | $185,000 | $195,000 |
| August 2026 | $186,000 | $198,000 |
19 new homes permitted in 2025
Builders were permitted 19 new homes in Water Valley in 2025, all single-family houses. That's 5.6 per 1,000 residents, faster than across Mississippi (4). Over the past 10 years, Water Valley has permitted 173 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Water Valley's population fell by 12 even though 111 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 14 | 14 | 0 | $426,000 |
| 2025 | 19 | 19 | 0 | $578,000 |
| 2024 | 22 | 22 | 0 | $670,000 |
| 2023 | 20 | 20 | 0 | $609,000 |
| 2022 | 22 | 22 | 0 | $670,000 |
| 2021 | 20 | 20 | 0 | $609,000 |
| 2020 | 16 | 16 | 0 | $487,000 |
| 2019 | 15 | 15 | 0 | $457,000 |
| 2018 | 14 | 14 | 0 | $426,000 |
| 2017 | 13 | 13 | 0 | $396,000 |
| 2016 | 12 | 12 | 0 | $365,000 |
| 2015 | 10 | 10 | 0 | $304,000 |
| 2014 | 10 | 10 | 0 | $304,000 |
| 2013 | 10 | 10 | 0 | $304,000 |
| 2012 | 9 | 9 | 0 | $274,000 |
| 2011 | 9 | 9 | 0 | $274,000 |
| 2010 | 9 | 9 | 0 | $274,000 |
| 2009 | 10 | 10 | 0 | $304,000 |
| 2008 | 14 | 14 | 0 | $426,000 |
| 2007 | 21 | 21 | 0 | $639,000 |
| 2006 | 26 | 26 | 0 | $792,000 |
| 2005 | 27 | 27 | 0 | $822,000 |
| 2004 | 24 | 24 | 0 | $731,000 |
| 2003 | 21 | 21 | 0 | $639,000 |
| 2002 | 19 | 19 | 0 | $578,000 |
| 2001 | 17 | 17 | 0 | $518,000 |
| 2000 | 17 | 17 | 0 | $518,000 |
Water Valley's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
How Water Valley ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
4.3 years of income
The typical Water Valley home costs about 4.3 years of the town's median household income, more than across Mississippi (3.5 years).
How Water Valley ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,170
HUD's Fair Market Rent for a two-bedroom in Water Valley is $1,170 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Water Valley pay a median of $606, so moving in tends to cost more than staying put. A two-bedroom takes about 33% of the town's median household income, above the 30% guideline for affordable housing.
Studio $990 · 4 bedrooms $1,550
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (38965; Calhoun County, MS), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.