Market Overview
Home Prices in Red Banks, MS
The median home value in Red Banks, MS is $256,726 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.6% compared to a year ago and up 3.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Red Banks are priced37% below average. Red Banks is part of the Memphis, TN-MS-AR metro area.
Over the past five years, Red Banks home values have risen by approximately18.8%, reflecting steady appreciation in this market.
Price History
Red Banks Home Price Trend
City Comparison
Red Banks vs. National Median
At $256,726, homes in Red Banks cost 37% below the national median of $410,000. This makes Red Banks a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Red Banks?
20% Down Payment
$51,345
on $256,726
Monthly P&I
$1,339/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,701/mo
incl. taxes & insurance
Income Needed
$68,040
gross annual (30% rule)
10% Down Option
$25,673
+ PMI applies
Loan Amount (20% dn)
$205,381
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Red Banks, MS?
The median home value in Red Banks is $256,726 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.6% year-over-year.
How much have home prices changed in Red Banks?
Over the past year, home values in Red Banks have increased by 0.6%. Over five years, prices have risen approximately 18.8%.
How much do I need to earn to buy a home in Red Banks?
To comfortably afford the median home price of $256,726 with a 20% down payment ($51,345) at today's rates (6.8%), you'd need a gross annual income of approximately $68,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Red Banks compare to the national average home price?
The national median home value is approximately $410,000. At $256,726, homes in Red Banks are 37% below the national average.
What metro area is Red Banks part of?
Red Banks is part of the Memphis, TN-MS-AR metropolitan area. Home prices and market conditions can vary across the broader metro region.