39114, Mendenhall, MS

Mendenhall, Mississippi is located in the 39114 zip code. The median home value in this zip code is $127,000. Home equity in Mendenhall has increased significantly over the past few years. In 2013, the home equity in Mendenhall was $102,000. By 2016, the home equity had increased to $128,000. This increase can be attributed to a number of factors including an increase in home prices and an increase in home equity loans available.

The average monthly mortgage payment for a Mendenhall resident with a 30-year fixed-rate mortgage is $1,521. This amount includes principal and interest payments as well as taxes and insurance premiums. The average monthly rent for a Mendenhall resident is also relatively high at $1,868 per month. However, due to the high demand for housing in Mendenhall and other nearby cities such as Jackson and Starkville, rental prices have continued to rise over time. As of 2016, the median rent for a one-bedroom apartment was $1,950 per month while the median rent for a two-bedroom apartment was $2,560 per month.

Despite these high costs of living relative to other areas of Mississippi, homeownership rates are still relatively high in Mendenhall compared to other parts of the state. As of 2016, 68% of households in Mendenhall were owner-occupied while 32% were rented or leased from an outside source (such as through Airbnb). This higher rate of homeownership may be attributable to several factors including low crime rates and good schools within Mendenhall's boundaries. Additionally, many residents may choose to own their homes due to their strong appreciation potential over time or because they believe that it offers more stability than renting from an outside source