The story of this market
The typical home in ZIP 38946 sells for about $85,000, or $68 per square foot.
Prices are down 2.3% from a year ago, which gives buyers more room to negotiate. Homes take about 112 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,250 a month.
ZIP 38946 — Morgan City
The housing market in 38946 is characterized by low transaction volume and stagnant price growth, reflecting the broader economic challenges of the Mississippi Delta. Demand remains weak, with high days on market and limited inventory turnover, driven by a lack of local job growth and an aging housing stock.
This ZIP is primarily suited for long-term residents, university-affiliated staff, and budget-conscious buyers looking for low-cost housing. It is less attractive to investors or commuters due to the lack of economic growth and limited local amenities.
Median prices moved down 2.3% year over year.
Homes spend a median of 112 days on market with 4.7 months of supply — a slower-moving market.
12% of listings have cut prices · homes sell at 94.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.0% · poverty 31.5% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 1.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 38946, Leflore County MS
Crime rates in Itta Bena are higher than the national average, with property crime being the most frequently reported incident type. The area experiences challenges typical of small, rural Mississippi towns with limited economic diversification.
Schools serving the area are part of the Leflore County School District, which has historically faced significant challenges in state accountability ratings and resource allocation.
The area is located in a region with moderate flood risk due to proximity to the Yazoo River basin and flat topography. Standard property insurance is available but often reflects regional risks associated with severe storm activity.
Economic momentum is limited, with the local economy heavily reliant on public sector employment and proximity to Mississippi Valley State University. There is minimal new commercial or residential development activity reported.
Property taxes are assessed at the county level by Leflore County, with rates determined by millage applied to the assessed value. Homestead exemptions are available for primary residences, and there are no local income taxes.
Commutes are primarily local, with most residents traveling to nearby Greenwood for employment. Public transit options are non-existent, necessitating personal vehicle ownership.
Recreational opportunities are centered around local community parks and the facilities provided by Mississippi Valley State University. Shopping and dining options are sparse, requiring travel to larger neighboring cities.
The rental market is characterized by low turnover and a high share of older, single-family housing stock. Vacancy pressure is moderate, and there is negligible short-term rental activity.
The economy is dominated by Mississippi Valley State University and local government services. There is a lack of major private-sector industrial or corporate employers in the immediate vicinity.
Transportation is entirely dependent on private vehicles, with US Highway 82 serving as the primary corridor for regional access. There is no public transit infrastructure.
There are no major approved or under-construction developments of note within the ZIP code boundaries.
The Leflore County Tax Assessor manages property valuations, which are updated periodically based on market sales data and state guidelines.
Parcels are subject to Leflore County school taxes and general county levies; there are no significant MUD or PID districts.
Property insurance premiums are influenced by regional wind and storm risks, with limited competition among providers in this rural market.
Mississippi is a non-judicial foreclosure state, allowing for relatively efficient processing of defaults through a trustee sale.
Mississippi is a caveat emptor (buyer beware) state, though sellers are required to provide a property condition disclosure statement for most residential transactions.
Data retrieved from data.census.gov ZCTA 38946 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Sky Lake WMA Boardwalk4.69.4 mi
- Sky Lake WMA Boardwalk4.69.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The primary anchor institution and cultural hub for the city.
Provides basic outdoor recreational space for local residents.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.