Jackson, MS Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Jackson, MS Housing Market Trends

With a population of 160,628, 62,108 total housing units (homes and apartments), and a median house value of $78,452, house prices in Jackson are some of the most affordable in Mississippi as well as the nation.

Single-family detached homes are the single most common housing type in Jackson, accounting for 68.13% of the city's housing units. Other types of housing that are prevalent in Jackson include large apartment complexes or high rise apartments ( 21.19%), duplexes, homes converted to apartments or other small apartment buildings ( 7.76%), and a few row houses and other attached homes ( 1.98%).

The most prevalent building size and type in Jackson are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.84% owning and 52.16% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Jackson's housing was primarily built during this period, from the '40s through the '60s. A full 46.54% of the city's housing hails from this era. Other housing ages represented in Jackson include homes built between 1970-1999 ( 41.33%) and housing constructed between 2000 and later ( 7.62%). There's also some housing in Jackson built before 1939 ( 4.51%).

Vacant housing appears to be an issue in Jackson. Fully 16.74% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Jackson, where house values have increased just 7.91%, which is annualized rate of 0.76%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Jackson appreciation rates have trailed the rest of the nation. In the last twelve months, Jackson's appreciation rate has been 4.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Jackson were at 1.99%, which equates to an annual appreciation rate of 8.20%.

Relative to Mississippi, our data show that Jackson's latest annual appreciation rate is lower than 80% of the other cities and towns in Mississippi.

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:
$78,452

Jackson, MS HOME PRICES

> $1,077,000
0.6%
0.6%
$808,001 - $1,077,000
0.5%
0.5%
$539,001 - $808,000
1.3%
1.3%
$431,001 - $539,000
1.3%
1.3%
$323,001 - $431,000
2.6%
2.6%
$216,001 - $323,000
6.2%
6.2%
$107,001 - $216,000
24.2%
24.2%
$54,001 - $107,000
38.0%
38.0%
$0 - $54,000
25.3%
25.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for MS

Value Relative To Nation

Number Of Homes And Apartments:
62,108

Jackson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
28.70% 1.18%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,136 / per month

Homeownership Rate

Owners
47.8%
47.8%
Renters
52.2%
52.2%
Vacant
16.7%
16.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
7.6%
7.6%
1970 - 1999
41.3%
41.3%
1940 - 1969
46.5%
46.5%
1939 or Older
4.5%
4.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.1%
68.1%
Townhomes
2.0%
2.0%
Small Apt. Buildings
7.8%
7.8%
Apt. Complexes
21.2%
21.2%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
11.5%
11.5%
2 Bedrooms
24.6%
24.6%
3 Bedrooms
47.8%
47.8%
4 Bedrooms
13.3%
13.3%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES