Real Estate News and Advice
September 5, 2008
Find an Agent Study Online, but Never Alone


Search Realty Times
 





Exclusive Leads In Your Market



Learn the Art of the Short Sale









NEED HELP?

Click for Live Support


Call: 214-353-6980








Biloxi: On a Lucky Streak

It's a cruel irony that some of the nation's most beautiful regions are also the most vulnerable to natural disaster.

That's certainly been true for Biloxi, Mississippi, and the greater Mississippi Gulf Coast, a region hit by multiple hurricanes throughout its history, including several major ones during the last century. One of the most destructive was Camille, who wreaked havoc on the Gulf Coast in 1969. But Biloxians have a reputation for simply picking up the pieces and rebuilding their city, and so Camille did little to shake their determination.

The locals rebuilt their city and their economy, and for the most part, Biloxi maintained steady growth until 1992, when gambling was officially made legal - provided it took place on water. Being a scenic Gulf Coast city, that was hardly a tall order for Biloxi, and so the gambling industry took off. Biloxi's waterside location and its newfound industry gave tourism a giant shot in the arm. Now, nearly 10 years after that gambling law passed, Biloxi is home to nine of the Gulf Coast's 12 major casinos, including Beau Rivage, Imperial Palace, Boomtown, Treasure Bay and Isle of Capri. The city's casinos rival those of Shreveport, Louisiana, and for those who reside along the Gulf Coast or elsewhere in the Southeast, Biloxi offers a closer and less expensive destination than Las Vegas for casino enthusiasts.

And yet, Biloxi's flavor has just a touch of Vegas added to it. Two of its previously mentioned casinos, the Beau Rivage and the Imperial Palace, were created by developers who either own or who have built similar properties in Vegas. In fact, Beau Rivage, finished in early 1999, was developed by the owners of the Golden Nugget and Mirage casinos of Las Vegas.

The spectacular growth of tourism in Biloxi sparked a domino effect that spread prosperity throughout the city. City leaders began working to enhance Biloxi's interior and exterior. Historical preservation efforts began, public recreational facilities were expanded and the city's transportation network extended, among other positive changes. Perhaps the most dramatic metamorphosis, however, was the growth of Biloxi's job market. Aside from the multitude of jobs in tourism, gaming and hospitality, Biloxi has witnessed significant growth in its retail and construction sectors, as well as education, transportation, health services and manufacturing. It's clear that while tourism provides a stable foundation for Biloxi's economy, the city is well-balanced in terms of its interests. For the prospective resident, the Mississippi Gulf Coast has plenty to offer.

Biloxi's housing costs are extremely competitive when compared to national averages. Home prices can range anywhere from well under $100,000 to $250,000 and up. A large portion of the city's housing inventory is older, and thanks to local restoration efforts, a number of historic neighborhoods have been preserved. For some local color, take a stroll in one of Biloxi's quiet, tree-lined neighborhoods, in which you'll be treated to beautiful antebellum-style residences. In addition to older homes, new construction continues to boom in Biloxi. Newly constructed homes generally start at $100,000. Rents, too, are reasonable; two-bedroom apartments range from between $600 and $900 per month, in most cases.

Although most tourists head to Biloxi to try their hand at one of the city's numerous casinos, others are quite content to lie on the beach.

Biloxi and the greater Mississippi Gulf Coast are comprised of nearly 30 miles of beaches. With such close proximity to the water, seafood rules here. You can't leave here without sampling crawfish - a staple of the Gulf Coast. You'll also want to check out Biloxi's Marine Education Center, which offers a primer on native Gulf Coast underwater life.

The growth of the city's retail sector means you'll be treated to near limitless opportunities to open your wallet. The Gulf Coast has more than 20 championship golf courses. And the concerted effort of city leaders to preserve the city's historical offerings through local museums, historic homes, and the Biloxi Lighthouse.

Many of us landlocked Americans would question why, throughout history, Biloxians have continued to rebuild their city and resume their lives despite Mother Nature's frequent interruptions. And yet, for locals, it's obvious. The Gulf Coast's sandy beaches, its spirited, Vegas-style nightlife, its wealth of shopping, its booming economy, plentiful jobs and competitive cost of living all merit their continued loyalty to one of the most unique destinations in the heart of the South.

Published: January 8, 2001

Use of this article without permission is a violation of federal copyright laws.




Courtney Ronan is a freelance writer who contributes a weekly column profiling various communities. She also writes a weekly review of real estate related web sites. Courtney's career in journalism has included recent stints as managing editor of Agent News and as associate editor of Texas Business magazine.







Real Estate News Network

You must enable Javascript to view the Video content and Navigation on this site.





Mortgage Rates
30 Year Fixed: 6.40%
15 Year Fixed: 5.93%
1 Year Adj: 5.33%
(U.S. Weekly Averages)

Today's Headlines

Today's Insider REALTOR Secret







Agent Publicity | Market Conditions Interview | Local Market Conditions | Video Newsletter | Article Index | Terms & Conditions | Privacy | Contact Us

Copyright © 2001 Realty Times®. All Rights Reserved.