The story of this market
The typical home in ZIP 38740 sells for about $150,000, or $85 per square foot.
Prices are up +30.61% from a year ago, so sellers still have some momentum. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $845 a month.
ZIP 38740 — Duncan
The housing market in 38740 is characterized by low inventory and slow turnover, reflecting the rural nature of the area. While median prices have seen a recent uptick, this is largely driven by a small sample size of sales rather than broad economic growth. The market remains stable but faces long-term challenges related to population decline and limited economic diversification.
This ZIP code is best suited for local residents and those seeking affordable, rural living in the Mississippi Delta; it is less attractive to commuters or investors due to limited economic growth and infrastructure.
Median prices moved up 30.6% year over year.
Homes spend a median of 68 days on market with 6.2 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 14.6% · poverty 20.6% — 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 8.0%/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 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 38740, Bolivar County MS
Not determinable at the ZIP level; regional crime data for the Mississippi Delta area generally reflects higher-than-average property crime rates compared to national benchmarks.
Public schools serving the Duncan area are part of the local district, which faces significant funding and performance challenges typical of rural Mississippi Delta school systems.
The area is located in the Mississippi Delta, which is subject to significant flood risks and requires flood insurance for many properties; wind damage from severe storms is also a recurring concern.
Economic momentum is limited, with the local economy primarily driven by agriculture and small-scale local services; there is minimal large-scale industrial or corporate development activity.
Property taxes are assessed by the county based on millage rates; there are no state-level property taxes, and homestead exemptions are available for primary residences.
Commuting is primarily by private vehicle, with limited public transit options available for travel to larger employment hubs in the region.
Recreational opportunities are largely rural, consisting of local community parks and access to outdoor activities in the surrounding agricultural landscape.
The rental market is characterized by low inventory and modest demand, with limited new construction and a high reliance on older, single-family housing stock.
The economy is heavily reliant on the agricultural sector, including cotton and soybean production, with limited diversification into other industries.
Transportation infrastructure is limited to rural highway networks; there is no significant public transit or rail infrastructure serving the area.
There are no major commercial or residential developments currently approved or under construction in this ZIP code.
The Bolivar County Tax Assessor manages property valuations, which are updated periodically based on market conditions and property improvements.
Parcels are subject to county-level school district taxes and local utility district assessments where applicable.
Property insurance premiums are rising due to increased risk of severe weather events and flood exposure in the Mississippi Delta region.
Mississippi is a non-judicial foreclosure state, allowing for relatively fast foreclosure processes following default.
Mississippi has limited mandatory seller disclosure requirements, generally following the principle of caveat emptor (buyer beware).
Data retrieved from Census Bureau ZCTA profiles and local income statistics.
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.
Small local park serving the immediate community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.