Jackson, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Jackson Neighborhoods Since 2000




Jackson, MI Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Jackson Housing Market Information

With a population of 33,133, 12,650 total housing units (homes and apartments), and a median house value of $68,956, 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 66.93% of the city's housing units. Other types of housing that are prevalent in Jackson include large apartment complexes or high rise apartments ( 16.39%), duplexes, homes converted to apartments or other small apartment buildings ( 13.31%), and a few row houses and other attached homes ( 2.79%).

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 ( 48.93%), 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 ( 34.98%), followed by between 1970-1999 ( 14.45%). There's also some housing in Jackson built between 2000 and later ( 1.64%).

Vacant housing appears to be an issue in Jackson. Fully 14.45% 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 Home Appreciation Rates

Homes have actually lost value in Jackson over the last then years, as home values have seen a decline of 21.52% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Jackson home appreciation rates at 0.82%, which equates to an annual appreciation rate of 3.31%.

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 8.70%, which is higher than appreciation rates in 89.69% 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 0.82%, which equates to an annual appreciation rate of 3.31%.

Relative to Michigan, our data show that Jackson's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$68,956

Jackson, MI HOME PRICES

Value Range
> $1,176,000 0.2
$882,001 - $1,176,000 0.2
$588,001 - $882,000 0.1
$470,001 - $588,000 0.1
$353,001 - $470,000 0.7
$235,001 - $353,000 1.6
$117,001 - $235,000 10.8
$59,001 - $117,000 47.6
$0 - $59,000 38.8

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
95.6931911402789 95.0320512820513

Number Of Homes And Apartments:
12,650

Jackson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-9.78% -0.59% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$859 / per month

Homeownership Rate

Homeownership
Owners 49.35
Renters 50.65
Vacant 14.45

Housing Market Details

 

Age of Homes

AGE OF Jackson HOMES
2000 or Newer 1.6
1970 - 1999 14.4
1940 - 1969 35.0
1939 or Older 48.9

Types of Homes

TYPE OF Jackson HOMES
Single-Family 66.9
Townhomes 2.8
Small Apt. Buildings 13.3
Apt. Complexes 16.4
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Jackson HOMES
No Bedroom 3.32
1 Bedroom 12.64
2 Bedrooms 32.69
3 Bedrooms 36.67
4 Bedrooms 10.99
5 or more bedrooms 3.69