Jackson, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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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 Q3 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 169,148 people, 62,671 houses or apartments, and a median cost of homes of $78,917, 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

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 -0.44%, which is lower than 70% of US communities.

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 2.18%, 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 0.29%, which equates to an annual appreciation rate of 1.16%.

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 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:
$78,917

Jackson, MS HOME PRICES

Value Range
> $1,068,000 0.4
$801,001 - $1,068,000 0.5
$534,001 - $801,000 1.3
$427,001 - $534,000 0.8
$320,001 - $427,000 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
92.1248316646174 69.3877551020408

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:
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
Since 2000:
2000 Q1 - 2017 Q3
26.53% 1.33% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,000 / 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