Biloxi, Mississippi Housing Market

How much can you negotiate in Biloxi?

Only 38 out of every 100 homes for sale have found a buyer. The other 62 are still waiting. Your offer may be the only one on the table. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Biloxi home takes 86 days to find a buyer. Half of them take even longer. That is 18% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago. There are 294 homes for sale in Biloxi. That is 3.8 times the tightest month on record, but below the peak of 342. Supply is growing against last year.

What to do about it

• Search Biloxi homes listed 90+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

Is now a good time to buy in Biloxi?

Asking prices are 12.2% below their Apr 2023 peak. You are not buying at the top. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Biloxi prices have risen in 85 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

The discount is already here. It is not getting bigger. Buy now while sellers are still weak. Waiting for a lower price stopped working a year ago.

Who will rent from you in Biloxi?

In Biloxi, 45 out of every 100 households rent. That is nearly half. The renter share is shrinking. Five years ago it was 50 in 100. Biloxi lost about 800 renter households in five years. Renter households average 2.2 people. Two and three bedrooms fit the typical renter.

Households grew 3% in five years. The housing stock shrank 1%. Demand is outrunning supply. 12.3% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

The median Biloxi household earns $60,328 a year. Incomes here have grown 3.3% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 5.2 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. A tenant on the median income can pay about $1,508 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Biloxi deal with?

• Price growth to assume — +6.8%/yr. Biloxi has grown about 7.8% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices rose 8.4% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 3. A typical home takes 86 days to sell. Budget that long when you exit or refinance. It is 18% slower than a year ago.
• Odds you cut your price to sell — 1 in 4. About 24% of homes on the Biloxi market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $187/sqft. The typical Biloxi listing shrank from 1,960 to 1,726 sqft since Jul 2016. So median price hides real growth: 92% per sqft versus 54% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +7%. That is how much the number of homes for sale grew in a year. Your resale will face a bigger crowd than today's comps did.
• Price-to-income ratio — 5.2×. A typical home costs 5.2 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. Home prices have outrun incomes. Locals are being priced out.
• Tenant rent ceiling — $1,508/mo. 30% of the median household income of $60,328. Rents above this line shrink your tenant pool fast.

Is Biloxi a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Biloxi right now. 38 out of every 100 homes for sale have a buyer, 24% of sellers have cut their price, and a typical home takes 86 days to sell.

Are Biloxi home prices going up or down?

Asking prices are 12.2% below their Apr 2023 peak. You are not buying at the top. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

What price growth should I assume for Biloxi?

Assume +6.8% a year. Biloxi has grown about 7.8% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices rose 8.4% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Biloxi?

A typical Biloxi home takes 86 days to find a buyer. Half of them take even longer. That is 18% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago.

Is Biloxi a renters' market or an owners' market?

In Biloxi, 45 out of every 100 households rent. That is nearly half. The renter share is shrinking. Five years ago it was 50 in 100. 12.3% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

What rent can Biloxi tenants afford?

A tenant on the median income can pay about $1,508 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Biloxi household earns $60,328 a year.