Jackson, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Jackson Housing Market Information

With 32,918 people, 12,632 houses or apartments, and a median cost of homes of $77,319, 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 Home Appreciation Rates

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 -1.16%, which is lower than 80% 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 14.54%, which is higher than appreciation rates in 98.65% 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 3.29%, which equates to an annual appreciation rate of 13.82%.

Importantly, NeighborhoodScout’s exclusive research found that Jackson's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

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.

Average Home Values

 

Median Home Value:
$77,319

Jackson, MI HOME PRICES

Value Range
> $1,269,419 0.2
$952,184 - $1,269,419 0.2
$634,672 - $952,183 0.1
$508,064 - $634,671 0.2
$380,854 - $508,063 0.9
$253,821 - $380,853 2.9
$127,142 - $253,820 10.1
$63,438 - $127,141 47.9
$0 - $63,437 37.6

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
93.3605839416058 93.4294871794872

Number Of Homes And Apartments:
12,632

Jackson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
0.09% 0.00%
2
1
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$872 / per month

Homeownership Rate

Homeownership
Owners 51.27
Renters 48.73
Vacant 15.33

Housing Market Details

 

Age of Homes

AGE OF Jackson HOMES
2000 or Newer 1.6
1970 - 1999 13.2
1940 - 1969 35.7
1939 or Older 49.5

Types of Homes

TYPE OF Jackson HOMES
Single-Family 67.5
Townhomes 2.8
Small Apt. Buildings 14.0
Apt. Complexes 15.1
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Jackson HOMES
No Bedroom 3.13
1 Bedroom 12.41
2 Bedrooms 33.85
3 Bedrooms 35.73
4 Bedrooms 11.19
5 or more bedrooms 3.69