Mississippi Gulf Coast: Zone X and affordable
Specialist · Jackson, MS · Member since 2021 · 27 posts · 20 votes
Why are Mississippi Gulf Coast properties so affordable? Even when not in a flood zone? If flood insurance the cause??
Its interesting because there is significant infrastructure and rebuilt opportunities to make the area very attractive. Florida gets far more named windstorms and costs so much more from an insurance perspective, but still draws more investors. The Mississippi gulf coast offers far more value opportunity going forward in my humble opinion.
I have been focusing on the gulf counties in the last 2 years and there are niches of progress being established in several strategic locations. While my attention has largely been in Biloxi, the incredible strides being made in Ocean Springs, Pass Christian and Bay St Louis are worth paying attention to.
Its amazing what is NOT known about the Mississippi gulf area. There are incredible restaurants that rival nearby New Orleans and the casinos are clean and safe and top notch. Most people dont know that the coast actually has a beach and miles of sand and lots of sunny days with a hospitable population. Mississippi still has to work on its national reputation but, south of I-10, its an entirely different latitude.
Ive bought 2 SFR in the last year and after I complete this reno, I will probably get another and use for STR as the entire gulf is very STR friendly (there are some pockets in Biloxi that are rejecting them, but the city council is promoting the value and insuring that adoption is in-line with where the city wants to be in 10 years). The overall thinking is forward and open for business and revenue, and thats good enough for me.
All said, windstorm insurance is expensive. Wrap it into your numbers. Wind will happen.
When Katrina hit it didn't matter whether your property was in a flood zone, but it i the most affordable area on the Gulf, no doubt because it is Mississippi.
Its interesting because there is significant infrastructure and rebuilt opportunities to make the area very attractive. Florida gets far more named windstorms and costs so much more from an insurance perspective, but still draws more investors. The Mississippi gulf coast offers far more value opportunity going forward in my humble opinion.
I have been focusing on the gulf counties in the last 2 years and there are niches of progress being established in several strategic locations. While my attention has largely been in Biloxi, the incredible strides being made in Ocean Springs, Pass Christian and Bay St Louis are worth paying attention to.
Its amazing what is NOT known about the Mississippi gulf area. There are incredible restaurants that rival nearby New Orleans and the casinos are clean and safe and top notch. Most people dont know that the coast actually has a beach and miles of sand and lots of sunny days with a hospitable population. Mississippi still has to work on its national reputation but, south of I-10, its an entirely different latitude.
Ive bought 2 SFR in the last year and after I complete this reno, I will probably get another and use for STR as the entire gulf is very STR friendly (there are some pockets in Biloxi that are rejecting them, but the city council is promoting the value and insuring that adoption is in-line with where the city wants to be in 10 years). The overall thinking is forward and open for business and revenue, and thats good enough for me.
All said, windstorm insurance is expensive. Wrap it into your numbers. Wind will happen.
Its interesting because there is significant infrastructure and rebuilt opportunities to make the area very attractive. Florida gets far more named windstorms and costs so much more from an insurance perspective, but still draws more investors. The Mississippi gulf coast offers far more value opportunity going forward in my humble opinion.
I have been focusing on the gulf counties in the last 2 years and there are niches of progress being established in several strategic locations. While my attention has largely been in Biloxi, the incredible strides being made in Ocean Springs, Pass Christian and Bay St Louis are worth paying attention to.
Its amazing what is NOT known about the Mississippi gulf area. There are incredible restaurants that rival nearby New Orleans and the casinos are clean and safe and top notch. Most people dont know that the coast actually has a beach and miles of sand and lots of sunny days with a hospitable population. Mississippi still has to work on its national reputation but, south of I-10, its an entirely different latitude.
Ive bought 2 SFR in the last year and after I complete this reno, I will probably get another and use for STR as the entire gulf is very STR friendly (there are some pockets in Biloxi that are rejecting them, but the city council is promoting the value and insuring that adoption is in-line with where the city wants to be in 10 years). The overall thinking is forward and open for business and revenue, and thats good enough for me.
All said, windstorm insurance is expensive. Wrap it into your numbers. Wind will happen.
I believe Biloxi is not as STR friendly as you are thinking. I have the Biloxi STR map, but it's not permitted in most of Biloxi outside of near the beach. Reach out if you need the map, although perhaps the city has an updated policy I am unaware of.
I have that map as well. It makes the town overall look very restrictive.
Still, the sentiment at the city council level is that STR is a positive wave that they want to ride. There are neighborhoods that push hard against it and there is a cap on the areas where the map shows it is allowed, but the cap isnt close to being met (around 60%) so the market is still open for investors and as the STR horror stories get dispelled, I believe that many other areas will become more STR friendly. The city planner and council seem to think so as well, but they are riding it out for now (against an aging organized vocal opposition) to just see the demand once the cap is hit.
Nevertheless, I think the days of "sleeping on" the Secret Coast are coming to an end. Each town offers its own unique vibe and quirkyness so there appears to be something for everyone. I encourage all investors, speculators, carpetbaggers and mostly good people looking for a peaceful, easy feeling at a good price to at least take a look.