Also referred to as Coastal Mississippi, the Gulfport-Biloxi MSA is the state’s 2nd largest region with a population of 420,782 and an apartment inventory of 175 properties and 24,608 units. While Gulfport and Biloxi are the largest 2 cities in the area, other nearby communities include Pascagoula, Ocean Springs, Gautier, Long Beach, Moss Point, and Pass Christian. With 62 miles of coastline along the Gulf of Mexico, the region is ideal for tourism, shipbuilding, and defense. Beaches and casinos drive the $2 billion tourism industry, and Island View Casino Resort is one of the Top 10 best casinos in the country. Ingalls Shipbuilding is the largest employer in the state, and Keesler Air Force Base is a major presence in the region. The Chevron Refinery in Pascagoula is the company’s largest U.S. refinery and one of the top petroleum refiners in the U.S. Singing River Health System anchors the region’s healthcare system, and Gulfport/Biloxi schools are ranked the best in the state.
#1
Best School District in Mississippi (Niche)
#2
Largest Metro in Mississippi
#8
Best States for Manufacturing (MS) (Site Selection Group)
Multifamily Highlights
Apartment Market Overview:
175
Apartments (50+ units)
24,608
Total Units (50+ units)
$1,007
Avg. Asking Rent
2.00%
Rent Growth (Previous 12 Months)
97.4%
Occupancy
12-Month Sales:
$70M
12-month Sales Volume ($)
1,255
12-month Sales (Units)
10
12-month Sales (# of transactions)
Development Pipeline:
0
Properties Under Construction
0
Units Under Construction
Economic Development
The largest economic development comes from Universal Music Group, which is underway on a $1.2 billion hotel & casino. The project will bring over 2,500 permanent jobs and 1,000 construction jobs and will feature 1,150 hotel rooms, a 12,000 seat entertainment venue, 18-hole golf course, new marina, and celebrity restaurants.
To view additional updates on the Gulfport-Biloxi market, please visit our Gulfport-Biloxi Market News page:
Nick is originally from Senatobia, MS and attended Christian Brothers University where he studied Accounting. He has been a Broker with TKC since 2016 and loves getting to see the growth over economically diverse markets and the challenges that accompany being a Broker.
Will Beasley
Broker
Will Beasley
Broker
Email: wbeasley@thekirklandco.com
Phone: 615-428-5064
Will is from Nashville, TN and attended the University of Mississippi. He loves being able to connect and build relationships with clients on both the buyer or seller side.
Val Smith
Broker
Val Smith
Broker
Email: vsmith@thekirklandco.com
Phone: 901-552-6181
Val grew up in Memphis, TN and attended the University of Alabama where he studied Political Science and History. Val has been interested in real estate from a young age due to his family’s background in the industry, and has loved building his career with TKC.
Sources & Comments
1. Gulfport-Biloxi, MS Metropolitan Statistical Area consists of 4 counties, according to Office of Management and Budget: (1) Hancock (2) Harrison (3) Jackson (4) Stone
4. This information supplied herein is from sources we deem reliable. It is provided without any representation, warranty, or guarantee, expressed or implied as to its accuracy
