Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 32,704, 12,632 total housing units (homes and apartments), and a median house value of $78,092, house prices in Jackson are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Jackson, accounting for 67.45% of the city's housing units. Other types of housing that are prevalent in Jackson include large apartment complexes or high rise apartments ( 15.13%), duplexes, homes converted to apartments or other small apartment buildings ( 14.02%), and a few row houses and other attached homes ( 2.80%).
People in Jackson primarily live in small (one, two or no bedroom) single-family detached homes. Jackson has a mixture of owner-occupied and renter-occupied housing.
The housing in Jackson was primarily built before 1939 ( 49.49%), making the housing stock in Jackson some of the oldest overall in America, although there is a range of ages of homes in Jackson. The next most important housing age is between 1940-1969 ( 35.71%), followed by between 1970-1999 ( 13.16%). There's also some housing in Jackson built between 2000 and later ( 1.64%).
Vacant housing appears to be an issue in Jackson. Fully 15.33% of the housing stock is classified as vacant. Left unchecked, vacant Jackson homes and apartments can be a drag on the real estate market, holding Jackson real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Jackson's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Jackson during the period has been just 0.31%, which is lower than 70% of US communities.
Appreciation rates are so strong in Jackson that despite a nationwide downturn in the housing market, Jackson real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Jackson appreciation rates continue to be some of the highest in America, at 7.60%, which is higher than appreciation rates in 79.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Jackson. Jackson appreciation rates in the latest quarter were at 1.41%, which equates to an annual appreciation rate of 5.75%.
Relative to Michigan, our data show that Jackson's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Jackson differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Jackson - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Jackson real estate investment or home purchase decisions.
|$962,001 - $1,282,000||0.2|
|$641,001 - $962,000||0.1|
|$513,001 - $641,000||0.2|
|$385,001 - $513,000||0.9|
|$257,001 - $385,000||2.9|
|$128,001 - $257,000||10.1|
|$64,001 - $128,000||47.9|
|$0 - $64,000||37.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
2000 Q1 - 2018 Q3
|* 10 is highest|
|AGE OF Jackson HOMES|
|2000 or Newer||1.6|
|1970 - 1999||13.2|
|1940 - 1969||35.7|
|1939 or Older||49.5|
|TYPE OF Jackson HOMES|
|Small Apt. Buildings||14.0|
|SIZE OF Jackson HOMES|
|5 or more bedrooms||3.69|