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Real Estate Market Trends: Everything You Need to Know in Beautiful Jackson

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.

Jackson real estate market

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:

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

Jackson real estate market

  • 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:


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