Jackson Real Estate Market: May 2024 Stats and Trends

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 in the heart of Mississippi, at the crossroads of interstates 20 and 55, the city of Jackson is home to over one-fifth of the state’s population. Known for its deep connection to jazz and blues music, the city is affectionately called “The City With Soul” for its love of not only music but also southern soul-food. 

However Jackson is known for more than just music and food, a wide variety of entertainment and industry options are some of the things that keep Mississippi locals and transplants alike moving to the city. 

But what about the Jackson real estate market in May 2024? 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 the Jackson real estate market (May 2024):

Jackson General Statistics

• Population (city proper): 138,991 (down .4% since 2023)

• Population (metro area): 580,661 

• Area (city proper): 111.7 sq. mi.  

• Area (metro area): 5,405.2 sq. mi.

• Median Age: 35.8 

• GDP: $34 Billion

• Unemployment rate: 2.3% (down .6% Since January 2024)

• 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 (May 2024) Statistics

• Neighborhoods: 50

• Homes for sale as of May 2024: 691 

• Median list price: $130K (up 2.1% since January 2024)

• Median sold price: N/A

• Sale-to-list price ratio: N/A

• Median price per square foot: $82 

• Median days on market: 57 (down 22% since January 2024)

• Rental vacancy rate: 7.7%

• Homeowner vacancy rate: 4.3%

• One-year appreciation rate: -18.4%

• Average rent: $1,019 (up .01% since January 2024)

• Price-to-rent ratio: 8.4

• Most expensive neighborhoods:  

• Least expensive neighborhoods:
  
  

Final Thoughts: Jackson Real Estate Market (May 2024) Trends

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.