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City · 7,062 residents · Hancock County, Mississippi

Waveland , Mississippi

In Waveland, a typical home is worth $218,900 and typical rent is $927 a month. Compared with all of Hancock County, typical rent is 5% lower and the share of households that own their home is 18 points lower.

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  • Typical home value

    $218,900

    2% below the county

    29% above Mississippi

    • Waveland
    • Hancock
    • Mississippi

  • Typical rent

    $927a month

    5% below the county

    3% below Mississippi

    • Waveland
    • Hancock
    • Mississippi

  • Typical household income

    $68,693a year

    About the same as the county

    22% above Mississippi

    • Waveland
    • Hancock
    • Mississippi

  • Households that own their home

    61%

    18 points below the county

    9 points below Mississippi

    • Waveland
    • Hancock
    • Mississippi

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$220,496
1.5% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Waveland is in Hancock County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Hancock County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Waveland apart

What this place has that others do not, from public data, most unusual first.

  1. 61% of households in Waveland own their home, against 79% in Hancock County.

  2. Nearby, in Gulfport, the typical home value is $174,600: 20% less than in Waveland ($218,900).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Waveland

What homes there are in Waveland, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Waveland, but it weighs less than in Hancock County: 72% against 79%.

Year built

The typical home in Waveland was built in 2003, 4 years after the typical one in Hancock County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,401 a month

Hancock County: $1,551 a month

Without a mortgage

$537 a month

Hancock County: $486 a month

Owners with a mortgage

68%

Hancock County: 51%

In Waveland, 68% of owners have a mortgage, and their typical cost is $1,401 a month, against $1,551 in Hancock County. Without one it drops to $537.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Waveland rose 59% since 2015–2019, more than in Hancock County (52%).

Since 2015–2019, the typical rent in Waveland did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureWavelandHancock CountyMississippiUnited States
Rental vacancy Unreliable estimateUnreliable estimate8.2%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimate1.5%2.2%3.4%
People per household 2.192.272.492.53
Drive alone 84%78%82%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimateUnreliable estimate1%3%
Work from home 7%11%6%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimateUnreliable estimate20 to 29 minutes20 to 29 minutes

A household in Waveland has 2.19 people on average, about the same as in Hancock County (2.27).

To get to work, 84% of workers in Waveland drive alone; in Hancock County, 78%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Waveland?

A typical home is tight for the typical income

We start with a typical home in Waveland, worth $218,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Waveland, which is $68,693 a year. For that payment to be 28% of income, a household would need to earn about $76,245 a year.

The calculator's FHA and conventional loan limits are those of all of Hancock County.

Your numbers

Local data
$

Starts at the typical home value in Waveland. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $7,662 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,779

at 7.18% · 30 years

Loan amount
$214,935
Total interest
$309,241
Paid off in
November 2056

Includes $3,697 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,603 a month

  • Tight

    $1,603 to $2,061 a month

    Your payment · 31%

  • Hard

    more than $2,061 a month

Compared with the typical household income in Waveland ($68,693 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,779
Principal & interest$1,456
Property tax$135
Home insurance$91
FHA mortgage insurance (MIP)$97

You need at least $7,662 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Waveland and Hancock County

Waveland is in Hancock County, Mississippi. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Waveland's own numbers

Typical home value
$218,900
Typical monthly rent
$927
Typical yearly household income
$68,693
Households that own their home
61%
Effective property tax rate
0.74%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Hancock County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,185
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
38%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Hancock County.

Everything about Hancock County

Buying

Buying a home in Waveland

A typical home in Waveland is worth $218,900: 2% below the county and 29% above Mississippi. With the typical household income in Waveland ($68,693 a year), a typical home costs 3.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Waveland 3.2 years
  • Hancock 3.3 years
  • Mississippi 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Hancock County

According to FHFA’s house price index, home prices in Hancock County rose 111% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Hancock County.

Period County Mississippi U.S.
Last year (2025) +7.6% +3.5% +2.9%
5 years (2020–2025) +57% +42% +47%
10 years (2015–2025) +111% +62% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Waveland next to Hancock County, Mississippi and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Waveland $218,900
  • Hancock $224,200
  • Mississippi $169,800
  • United States $332,700
Typical monthly rent
  • Waveland $927
  • Hancock $977
  • Mississippi $954
  • United States $1,413
Typical yearly household income
  • Waveland $68,693
  • Hancock $67,708
  • Mississippi $56,447
  • United States $80,734
See the full table
Waveland next to Hancock County and Mississippi
Measure Waveland Hancock County Mississippi U.S.
Typical home value $218,900 $224,200 $169,800 $332,700
Typical monthly rent $927 $977 $954 $1,413
Typical yearly household income $68,693 $67,708 $56,447 $80,734
Households that own their home 61% 79% 70% 65%
Typical yearly property tax $1,627 $1,583 $1,215 $3,119
Effective property tax rate 0.74% 0.71% 0.72% 0.94%
Renters with high rent for their income 54% 50% 51% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Hancock County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Waveland

For a typical $218,900 home in Waveland, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Waveland's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,779a month

    Least cash to close
    Down payment
    $7,662
    Cash to close
    $14,229
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $97

  • Conventional, 5% down $1,739a month

    Down payment
    $10,945
    Cash to close
    $17,512
    Rate
    7.18%
    Mortgage insurance
    PMI · $104

  • Conventional, 20% down, no PMI $1,413a month

    Down payment
    $43,780
    Cash to close
    $50,347
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,615a month

    Down payment
    $32,835
    Cash to close
    $39,402
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Waveland and for Hancock County.

Property tax

Effective rate in Waveland

0.74%of the home’s value each year

$1,627 a year for the typical owner in Waveland.

  • Waveland 0.74%
  • Hancock 0.71%
  • Mississippi 0.72%

What Mississippi publishes Regular homestead exemption (Tier 1) (Mississippi Department of Revenue)

Exemptions and deadlines in Mississippi

Flood risk in Hancock County

FEMA does not publish these numbers by city: they are for all of Hancock County.

Homes in the high-risk zone
38%
7,785
Of those, with NFIP insurance
64%
County Mississippi U.S.
Homes in the high-risk zone 38% 7.6% 3.5%
Of those, with NFIP insurance 64% 33% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Waveland

Typical rent in Waveland is $927 a month: 5% below the county. In Waveland, 54% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Hancock County, by unit size. To pay the 2-bedroom one ($1,185 a month) without spending more than 30% of your income, you would need to earn $22.79 an hour working full time.

HUD fair market rent for all of Hancock County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $844 $16.23 $33,760
1 bedroom $982 $18.88 $39,280
2 bedrooms $1,185 $22.79 $47,400
3 bedrooms $1,525 $29.33 $61,000
4 bedrooms $1,723 $33.13 $68,920

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Waveland

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Waveland has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,030 in 39576 to $1,200 in 39520.

1 of the 2 is above the fair market rent for Hancock County ($1,185).

  • 39520 $1,200$1,540
  • 39576 $1,030$1,330

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Waveland when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Waveland

HUD lists 5 buildings with rents for lower incomes in Waveland. These are the largest.

  • Gates at Coralbay 616 Highway 90, Waveland 39576 160 homes, 157 low-income · 1 bd: 24 · 2 bd: 80 · 3 bd: 56 · In service since 2010
  • Ridge at Waveland 548 Highway 90, Waveland 39576 120 homes, 118 low-income · 1 bd: 12 · 2 bd: 48 · 3 bd: 60 · In service since 2009
  • Waveview Place 100 Auderer Blvd, Waveland 39576 100 homes, 99 low-income · 2 bd: 50 · 3 bd: 50 · In service since 2008 · For people with disabilities, families
  • Oak Haven Apts 1201 Russell Dr, Waveland 39576 80 low-income homes · 1 bd: 60 · 2 bd: 20 · In service since 2010 · For older adults
  • Pinecrest Manor 1303 Bloom Pl, Waveland 39576 36 low-income homes · 1 bd: 8 · 2 bd: 28 · In service since 2009 · For people with disabilities

See all 10 buildings in Hancock County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Waveland

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Hancock County; none says it serves in Spanish.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Waveland

No down payment, repair or rent-help program on our list is for Waveland or Hancock County. The ones below are statewide in Mississippi: they work in Waveland the same as in the rest of the state.

Which programs do I qualify for? All programs in Mississippi

  • Smart7 Mortgage Program

    Statewide in Mississippi

    Mississippi state corporation 30-year mortgage with $7,000 for the down payment or closing costs as a 0% second mortgage, repaid when you sell, refinance, stop living in the home or pay off the mortgage; no first-time buyer requirement. Offered by Mississippi Home Corporation (MHC).

    Deferred

    See the program Official page

  • Easy8

    Statewide in Mississippi

    Mississippi state corporation 30-year mortgage with $8,000 at 0% as a second mortgage for the down payment, closing costs or prepaid expenses, repaid when you sell, refinance, stop living in the home or pay off the mortgage; for first-time buyers, except in designated areas and for veterans. Offered by Mississippi Home Corporation (MHC).

    Deferred

    See the program Official page

  • Home4All

    Statewide in Mississippi

    Mississippi state corporation forgivable grant, with federal HOME funds, of up to $25,000 for the down payment, closing costs or to reduce the principal; for first-time buyers with incomes under 80% of the area median and a fixed-rate mortgage; if you sell before 5 or 10 years (depending on the amount), you may repay part of it. Offered by Mississippi Home Corporation (MHC).

    Grant

    See the program Official page

Housing counselors near Waveland

The HUD-approved agencies closest to the center of Waveland, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Hancock Housing Resource Center

    887 Washington St, Bay Saint Louis · 3 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (228) 463-8887

  • Renaissance Community Loan Fund

    8917 Lorraine Rd, Gulfport · 23 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (228) 896-3386

  • Mercy Housing and Human Development

    1135 Ford St, Gulfport · 24 miles away · Spanish

    Also serves in Vietnamese.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (228) 896-1945

Every agency in Hancock County All counseling agencies in Mississippi

Help in Spanish near Waveland

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Waveland

HUD’s record names them for Waveland or Hancock County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Bay Waveland Housing Authority Public housing and Section 8 vouchers (228) 467-4545

All housing agencies in Mississippi Source: HUD

Cities

Other cities in Hancock County

These cities are also in Hancock County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Hancock County Housing in Mississippi

Nearby cities

The cities closest to Waveland, with the typical home value.

Neighboring counties

If Hancock County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Waveland.

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Waveland

Short answers with the numbers for Waveland and all of Hancock County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Waveland?

The typical home value in Waveland is $218,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hancock County it is $224,200.

How much does it cost to rent in Waveland?

Typical rent in Waveland is $927 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Hancock County is $1,185.

What is the FHA loan limit in Waveland?

Waveland uses the FHA limit for all of Hancock County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Waveland?

The typical homeowner in Waveland pays $1,627 a year, according to the U.S. Census Bureau. That is 0.74% of the home’s value; in Hancock County, the rate is 0.71%.

Where can I find free help to buy or rent in Waveland?

There is 1 HUD-approved counseling agency with an office in Hancock County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).