Gulfport, MS
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Known for its white sandy beaches and casinos, Gulfport, Mississippi, is a great market for short- and long-term real estate investors. With a diversified economy and many property choices, there is something for every type of investor.
The Gulfport market has a population of 416,839, a 0.53% change from last year. Most residents live in the city of Gulfport itself, but there are various communities spread out across the area.
Home price and rent price growth have steadily increased over the last few years. This year, housing prices are $209,768, and rent prices are $1,399, a 7.6% YoY change. The rent-to-price ratio here is 0.7%, signifying a stable and attractive market for investors.
The median household income in Gulfport is $58,287, and the area is known as one of the nation’s most affordable beach towns, giving investors another avenue to consider.
Gulfport's unemployment rate is 2.5%. This is largely due to its diverse economic base, which includes major employers like the Naval Construction Battalion Center and Gulfport and Harrison County school districts, as well as the Island View Casino.
The area has also seen significant investments, totaling over $1 billion in the past decade. These have revitalized the entire market and boosted various industries, including military, hospitality, medical, commercial, education, and business.
The military presence in Gulfport increases the need for rental housing, as it’s one of two homes to the Naval Mobile Construction Battalion Center Gulfport (NMCB) and the Air National Guard Combat Readiness Training Center that hosts training and deployment year-round.
The area is also well-known for its tourism, especially around spring break and summer, providing ample opportunity for short-term rental investors. However, the area's short-term rental laws are somewhat restrictive, and no one can operate a short-term rental without a permit. High insurance rates may limit cash flow opportunities, especially in coastal areas.
Most residents drive because it's a coastal area, and traffic is rarely a consideration, with an average 25.4-minute commute. However, public transportation is available for residents who want it via the Coast Transit Authority bus system, which also offers hurricane evacuation transportation service, an important consideration when investing on the coast.
The Gulfport area is home to people of all ages, especially military retirees. The market is also home to families of all sizes who enjoy the reputable Gulfport school district, which received SACS/CASI Quality School District accreditation and is a four-time recipient of the Dan Merritt Courage Award.
The economic opportunities and low cost of housing are some of the top reasons to consider investing in Gulfport. With a strong military presence, rich cultural history, and a large selection of properties, this market provides potential investors with confidence and peace of mind.
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