Jackson, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Jackson Neighborhoods Since 2000




Jackson, MS 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 170,674 people, 62,671 houses or apartments, and a median cost of homes of $78,827, house prices in Jackson are solidly below the national average.

Single-family detached homes are the single most common housing type in Jackson, accounting for 67.95% of the city's housing units. Other types of housing that are prevalent in Jackson include large apartment complexes or high rise apartments ( 20.55%), duplexes, homes converted to apartments or other small apartment buildings ( 7.93%), and a few row houses and other attached homes ( 2.01%).

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 50.16% owning and 49.84% 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 47.12% of the city's housing hails from this era. Other housing ages represented in Jackson include homes built between 1970-1999 ( 40.57%) and housing constructed between 2000 and later ( 7.26%). There's also some housing in Jackson built before 1939 ( 5.04%).

Vacant housing appears to be an issue in Jackson. Fully 16.91% 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

Real estate appreciation rates in Jackson's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.47% during the period.

NeighborhoodScout's data show that during the latest twelve months, Jackson's appreciation rate, at 3.20%, has been at or slightly above the national average. In the latest quarter, Jackson's appreciation rate has been -0.74%, which annualizes to a rate of -2.93%.

Notably, Jackson's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Mississippi, our data show that Jackson's latest annual appreciation rate is lower than 50% 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:
$78,827

Jackson, MS HOME PRICES

Value Range
> $1,066,000 0.4
$800,001 - $1,066,000 0.5
$533,001 - $800,000 1.3
$426,001 - $533,000 0.8
$320,001 - $426,000 2.9
$213,001 - $320,000 6.0
$107,001 - $213,000 23.7
$53,001 - $107,000 41.3
$0 - $53,000 23.2

Low for MS
Very Low for Nation

Value Relative to Nation Value Relative to State
91.2691902027423 67.3469387755102

Number Of Homes And Apartments:
62,671

Jackson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
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
26.42% 1.37% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$996 / per month

Homeownership Rate

Homeownership
Owners 50.16
Renters 49.84
Vacant 16.91

Housing Market Details

 

Age of Homes

AGE OF Jackson HOMES
2000 or Newer 7.3
1970 - 1999 40.6
1940 - 1969 47.1
1939 or Older 5.0

Types of Homes

TYPE OF Jackson HOMES
Single-Family 67.9
Townhomes 2.0
Small Apt. Buildings 7.9
Apt. Complexes 20.6
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Jackson HOMES
No Bedroom 2.04
1 Bedroom 11.32
2 Bedrooms 23.29
3 Bedrooms 47.83
4 Bedrooms 13.08
5 or more bedrooms 2.44