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Fernwood

Learn about the people, housing, costs and businesses in Fernwood, Mississippi

Median Home$94,332
Median Rent$920/month
Population367
Leading IndustriesEducation · Arts, Food & Hospitality2% education
Home Value Growth-3.3% over 2 years
Family-Friendly27% of residentsabove average nationally
Homeowners76% of occupied units
Fernwood
MS

Frequently Asked Questions

What are today's mortgage rates in Fernwood?

As of today, the 30-year fixed mortgage rate for Fernwood is approximately 6.860% (6.895% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Fernwood?

The median home value in Fernwood is $94k. The median monthly rent is $920. Annual property taxes average $963. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Fernwood?

Home values in Fernwood have decreased 3.3% over the past two years. Buyers may find more negotiating room in this market. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Fernwood?

Based on a typical all-in ownership cost of $630/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $27k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Fernwood is $42k/year.

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What industries drive the economy in Fernwood?

The largest employment sectors in Fernwood are public administration (25%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.