Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Jackson, MS, is certainly worth considering.
Located just south of the center of Mississippi, the city of Jackson was named after former president Andrew Jackson and was established in 1821. In the early days of Jackson, the city site was chosen for its access to trade routes and proximity to the Pearl River; however, Jackson has grown to become a thriving economy in modern times, with a vibrant culture that makes it a popular destination for not only Mississippi locals, but other southerners as well.
But what about the Jackson real estate market? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.
Here are some of the top trends for February 2024 in the Jackson real estate market:
Table of Contents
Jackson General Statistics
- Population (city proper): 138,531 (down 2% since 2023)
- Population (metro area): 580,661
- Area (city proper): 111.7 sq. mi.
- Area (metro area): 5,405.2 sq. mi.
- Median Age: 38.5
- GDP: $34 Billion
- Unemployment rate: 2.2% (down .2% since October 2023)
- Top employers: Newk’s Eatery, Cal-Maine Foods, Ergon, Jackson Public Schools, Trend Line Corporation, Trustmark, St. Dominic Health Services Inc., Health Mississippi Organization, Mississippi Action for Progress.
- Highest paying jobs: Assistant Professor of Surgery, Physician, Hospitalist Physician, Neurosurgeon, Operator and Truck Driver, Vascular Surgeon, Radiologist, Cardiologist, Hospitalist, Medical Director.
- Median income (per capita): $27,498
- Median income (household): $40,631
Jackson Real Estate Market Statistics
- Neighborhoods: 50
- Homes for sale as of February 2024: 611
- Median list price: $107K (down 1.5% since August 2023)
- Median sold price: N/A
- Sale-to-list price ratio: N/A
- Median price per square foot: $64
- Median days on market: 75 (up 13% since August 2023)
- Rental vacancy rate: 7.7%
- Homeowner vacancy rate: 6.1%
- One-year appreciation rate: -25.1%
- Average rent: $1,007 (Up .5% since March 2023)
- Price-to-rent ratio: 17.5
- Most expensive neighborhoods:
| Neighborhood | Average Monthly Rent | Median Listing Price |
| Northeast/Heatherton | $2,745 | $482,516 |
| Rolling Wood Beautiful/Sherwood-Audubon | $1,782 | $393,041 |
| Northpointe | $1,830 | $361,071 |
| Belhaven University | $1,762 | $251,482 |
| Fonder-Cherokee Heights/Woodland Hills | $1,875 | $246,071 |
- Least expensive neighborhoods:
| Neighborhood | Median Monthly Rent | Median Listing Price |
| Virden East | $1,069 | $22,519 |
| Washington Addition | $1,139 | $29,651 |
| Sunnyside/Georgetown Community | $1,152 | $30,195 |
| Utha Street | $1,189 | $33,719 |
| Country Club Place/Colonial Heights | $1,283 | $35,011 |
Final Thoughts: Jackson Real Estate Market Trends in February 2024
The Jackson real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Jackson real estate market could provide ample opportunity to build your portfolio.
Get Started Buying Homes With Evernest
Whether you’re purchasing one Jackson home or one hundred, you don’t have to go it alone.
If you’re ready to buy your first (or next) investment property, here are three steps to get started today:
- Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more.
- Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.
- Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.