Invest In Apartment Buildings In Biloxi, MS

Who Rents In Biloxi

Biloxi's apartment demand starts with its 9,933 renter households, 49.9% of all occupied homes in the city (U.S. Census ACS 2020–2024). Renter households fell 1% over five years, close to the population trend (up 6.4%).

The typical Biloxi household earns $57,204 a year, 18.8% more than in the 2015–2019 survey. The number of employed residents rose 10.2% over the same period, and unemployment stood at 7.7%. Rent has risen faster than income (26% versus 18.8%), so more tenants are stretched. Well-run older buildings that rent below new construction tend to hold up best in that setting.

Renters are a large minority in Biloxi. Buildings close to employers and main roads usually see the steadiest demand.

Biloxi Rent Trends And Supply

Median gross rent in Biloxi, MS is $1,089 a month, up 26% from $864 in the 2015–2019 survey (U.S. Census ACS 2020–2024). That pace was well above long-run norms. We treat it as history, not as a forecast, when we underwrite a building.

Rental vacancy is 7.7%, higher than we like to see. Before buying here, we'd want to know whether the empty units sit in a few older properties or across the whole market. Census vacancy estimates for smaller places carry wide margins of error, so we check them against current local listings. 47.1% of renters spend 30% or more of their income on housing. That is close to the national picture, where roughly half of renters do, so rent increases need to track local wage growth.

About 31.1% of homes in Biloxi are in buildings with 5 or more units, roughly 7,161 homes. It grew 5.9% over five years, a moderate amount of new supply. The median home was built in 1990, so the housing stock is relatively new. Value-add plans here lean more on management and amenities than on heavy renovation. For comparison, HUD's fiscal year 2027 Fair Market Rent for a two-bedroom unit in the Gulfport-Biloxi, MS HUD Metro FMR Area is $1,185 a month.

Biloxi By The Numbers

Out of 16 Mississippi cities in our data, Biloxi comes in 9th for median gross rent, 6th for renter share and 7th for five-year rent growth. Its rents fall in the middle of the pack. Put in counts rather than percentages, that is roughly 2,955 more residents, 100 fewer renter households and 399 more homes in buildings with 5 or more units than five years earlier. With fewer renter households than before, a building has to win tenants from competitors rather than from new demand.

How Biloxi Compares With Nearby Markets

Biloxi's median gross rent of $1,089 is above the Mississippi median of $954, and its renter share is 49.9% compared with 30% statewide.

Can Tenants Afford Biloxi Rents?

The median rent in Biloxi works out to $13,068 a year, about 22.8% of the median household income of $57,204. Under the common 30% guideline, a household needs about $43,600 a year to cover that rent comfortably. That's a heavier load than the Mississippi average of 20.3%. Renters usually earn less than the all-household median, so the real burden for tenants is higher than this simple ratio shows.

Since the 2015–2019 survey, the median rent rose $225 a month ($2,700 a year), while median household income rose $9,052 a year. Rent has outpaced income, so we are careful about how much further a business plan pushes rents on renewal. HUD's FY2027 Fair Market Rent for a two-bedroom unit, $1,185, is 8.8% above the median gross rent for all unit sizes. That gap matters for buildings that accept Housing Choice Vouchers, since local housing authorities base voucher payment standards on it.

Quick Facts: Biloxi Rental Market

Here's the Biloxi rental market in short form, with the source on every figure.

• Biloxi, MS has 48,861 residents, up 6.4% from the 2015–2019 survey (U.S. Census ACS 2020–2024).
• Median household income in Biloxi, MS is $57,204, up 18.8% over five years (U.S. Census ACS 2020–2024).
• Median gross rent in Biloxi, MS is $1,089 a month, up 26% over five years (U.S. Census ACS 2020–2024).
• 49.9% of households in Biloxi, MS rent, about 9,933 renter households (U.S. Census ACS 2020–2024).
• 31.1% of homes in Biloxi, MS are in buildings with 5 or more units (U.S. Census ACS 2020–2024).
• The rental vacancy rate in Biloxi, MS is 7.7%, and 47.1% of renters spend 30% or more of income on rent (U.S. Census ACS 2020–2024).
• The median home in Biloxi, MS was built in 1990 (U.S. Census ACS 2020–2024).

What We Look For In A Biloxi Apartment Building

Our buy box in Biloxi is the same one we use nationwide: 5+ unit apartment buildings, stabilized or in need of work, priced on today's rents. Then we test the property against the local data on this page and a full inspection of its major systems.

Property taxes are a big line item for any Mississippi apartment building. We underwrite the tax bill after purchase, not the seller's current bill, since a sale often resets the assessment. Mississippi has no statewide rent control law, though local rules on notices, fees and deposits still apply. Insurance quotes in Mississippi reflect hurricane and flood exposure, so we get a quote before we make an offer.

Given how fast rents rose here, we assume much slower rent growth going forward and make sure the deal still works if rents stay flat for a while.

Questions To Ask About An Apartment Syndication In Biloxi

Before you invest in an apartment syndication in Biloxi, with us or anyone else, the local data points to a few questions worth asking.

• What vacancy does the plan assume? Rental vacancy in Biloxi is 7.7%. A plan that assumes much lower vacancy than the market should explain why.
• What rent growth is underwritten? Rents here rose 26% over five years. Ask whether the plan assumes that pace continues, and what happens to the deal if rents stay flat.
• How was the property tax bill estimated? A sale often triggers a reassessment, so the bill after purchase can be well above what the seller pays today.
• How big is the repair reserve? The median home in Biloxi was built in 1990, and even newer buildings need money set aside for roofs, HVAC and appliances.
• How will the building hold occupancy? Renter households in Biloxi fell 1%, so the plan should show how it keeps units full.
• How and when does capital come back? Ask what the plan is for a refinance or sale, and what happens if that takes longer than expected.

How Passive Investing In A Biloxi Apartment Syndication Works

Here's the short version. The general partner, in this case Skyline, finds an apartment building in Biloxi, buys it with a loan and investor capital, and runs it. Limited partners supply part of that capital and hold an ownership share, without landlord duties or personal liability for the loan.

It's a long-term commitment. The property has to be refinanced or sold before most capital comes back, and the outcome isn't certain. Eligibility rules vary by offering, and most are limited to accredited investors. See investing with Skyline Capital for how we work with limited partners.

Getting Started

Start by joining our investor network. Members get market updates and educational content by email. When we have an opportunity in Biloxi or another market, we contact eligible members directly. Joining is free and doesn't commit you to anything.