Water Valley, MS · standard
ZIP Code 38965
Yalobusha County, Mississippi - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 9,135
- 14/sq mi Moderate-density area
- $58,258
- Median income Below-median income area
- $153,100
- Median home value Below-median home value
- 19.6%
- Bachelor's or higher Near-average bachelor's attainment
National ZIP placement
Water Valley pairs a below-median household income with below-median home values, in a rural, homeowner-dominated area.
- 26th pct
- household income, US ZIPs
- 26th pct
- home value, US ZIPs
- 14
- people per sq mi
- 73%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 38965 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 38965 (Water Valley, MS) rose +9.3% from 2023 to 2024. The all-transactions index moved from 245.8 in 2023 to 268.8 in 2024 (2000 = 100).
ZIP code 38965 is a mid-sized community (a standard USPS delivery area) in Water Valley, Yalobusha County, Mississippi, home to 9,135 residents across 634.4 square miles, a density of 14 people per square mile, in the Chicago time zone.
ZIP 38965 reports a modest median household income of $58,258 (11% above the average Mississippi ZIP), while per-capita income is $29,162. The poverty rate is 18.9%, with unemployment at 2.5%; those measures add context to the income figure. Median home value is $153,100 (14% above the average Mississippi ZIP) and median rent is $645; 72.9% of occupied homes are owner-occupied.
Educational attainment sits below the national norm: 19.6% of adults hold a bachelor's degree or higher, the median age is 39.5, and the average commute is 28 minutes. No nearby ZIP peer set is available for this delivery area, so the Mississippi and national benchmarks above are the appropriate context for 38965.
Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →
Top industries in ZIP 38965
Top 5 sectors by establishment count in Water Valley, MS
Which industries have the most business establishments in ZIP 38965.
- Retail trade
Retail trade
31 establishments
- Other services (except public administration)
Other services (except public administration)
16 establishments
- Accommodation and food services
Accommodation and food services
13 establishments
- Health care and social assistance 12
Health care and social assistance
12 establishments
- Construction 11
Construction
11 establishments
What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 38965, Water Valley, MS · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.
Quick Facts
9,135
Population
634.4
Area (sq mi)
14
People / sq mi
Chicago
Time Zone
standard
ZIP Type
Who lives in ZIP 38965?
39.5
Median Age
49.1%
Male
50.9%
Female
0.4%
Foreign-Born
Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How much do residents earn?
$58,258
Median Household Income
+11% vs state ZIP avg
$29,162
Per Capita Income
18.9%
Poverty Rate
2.5%
Unemployment Rate
28.2 min
Mean Commute Time
How ZIP 38965 ranks among Mississippi ZIPs
Water Valley, MS household income vs. every Mississippi ZIP code
Median household income among 377 reporting Mississippi ZIPs (this ZIP's population is too small for a reliable national-corpus placement)
$58,258 Top 35% higher than 65% of 377 Mississippi ZIPs
Each bar is a $20K-wide band; taller bars hold more Mississippi ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What is the education profile here?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
Housing stock: occupied vs vacant
4,118housing units
4,118
Total Housing Units
3,403
Occupied Units
715
Vacant Units
2.57
Avg Household Size
Occupancy Type
$153,100
Median Home Value
+14% vs state ZIP avg
$645
Median Rent
1981
Median Year Built
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How have home values changed over time?
FHFA House Price Index, annual appreciation data based on repeat sales and appraisals
+9.3%
YoY Change (2024)
269
HPI Index (2000 = 100)
+169%
Total Change Since 2000
Home values in ZIP 38965 have increased 9.3% over the past year (2024). Since 2000, this ZIP has seen +169% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | -2.8% | 160 |
| 2021 | +9.9% | 175 |
| 2022 | +25.3% | 220 |
| 2023 | +11.9% | 246 |
| 2024 | +9.3% | 269 |
Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.
What businesses operate in this ZIP?
Census Bureau data shows 131 business establishments in ZIP 38965, employing approximately 1,384 people with a combined annual payroll of $48,130,000.
131
Businesses
1,384
Employees
$48.1M
Annual Payroll
13
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Retail trade | 31 | 23.7% |
| Other services (except public administration) | 16 | 12.2% |
| Accommodation and food services | 13 | 9.9% |
| Health care and social assistance | 12 | 9.2% |
| Construction | 11 | 8.4% |
| Administrative and support and waste management and remediation services | 8 | 6.1% |
| Finance and insurance | 7 | 5.3% |
| Professional, scientific, and technical services | 7 | 5.3% |
| Manufacturing | 5 | 3.8% |
| Wholesale trade | 5 | 3.8% |
| Transportation and warehousing | 5 | 3.8% |
| Utilities | 3 | 2.3% |
| Real estate and rental and leasing | 3 | 2.3% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 38965, both outside MS so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (9,135 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Yalobusha County
Related Areas
Frequently Asked Questions
What county is ZIP code 38965 in?
ZIP code 38965 (Water Valley) is located in Yalobusha County, Mississippi. Yalobusha County contains multiple ZIP codes, see the full list at /counties/yalobusha-ms.
What is the population of ZIP code 38965?
ZIP code 38965 in Water Valley, MS has a population of 9,135 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 38965?
The median household income in ZIP 38965 is $58,258, which is 24% below the national average of $76,288.
What is the average home value in ZIP 38965?
The median home value in ZIP 38965 is $153,100, which is 45% below the national average of $278,155.
What is the demographic makeup of ZIP 38965?
The largest racial group in ZIP 38965 is White at 65.2%. Hispanic or Latino residents make up 1.6% of the population.
How many businesses are in ZIP code 38965?
ZIP code 38965 has 131 business establishments employing approximately 1,384 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 38965?
The top industries by establishment count in ZIP 38965 are: Retail trade (31), Other services (except public administration) (16), Accommodation and food services (13). There are 13 industry sectors represented in total.
How have home values changed in ZIP code 38965?
According to the FHFA House Price Index, home values in ZIP 38965 increased by 9.3% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 169%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 38965?
In ZIP code 38965, 53.0% of residents aged 25+ have a high school diploma or higher, and 19.6% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 38965?
The mean commute time for workers in ZIP code 38965 is 28.2 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend more time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 38965?
In ZIP code 38965, approximately 72.9% of occupied housing units are owner-occupied and 27.1% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 38965?
The poverty rate in ZIP code 38965 is 18.9% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
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What to do with ZIP 38965's numbers, next.
- See how ZIP 38965 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
- Check where Water Valley, MS ranks among every U.S. ZIP code on income, education, or homeownership View national rankings
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ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.