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.

Jackson is known for being the state of Mississippi’s most populous city, the only city in the state with 100K residents. By U.S. standards, Jackson might be considered a small city. But between the abundance of space, easy access to the outdoors, and rich, storied past, it’s easy to see why more Mississippians choose to live here than any other metro in the state. 

With 3 universities, a thriving job market, and affordable housing, the city of Jackson has something for everyone. Locals enjoy all the modern amenities that come with contemporary city living on top of its quaint, charming feel. On any given weekend, you might find Jackson residents enjoying sports games at local universities, indulging in the vibrant nightlife and live music scene, or sitting down for some of the best southern comfort food in the nation. 

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

Jackson General Statistics

• Population (city proper): 140,613 

• 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: 3.3% (up .8% since May 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 (August 2024) Statistics

• Neighborhoods: 50

• Homes for sale as of August 2024: 639 

• 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: -14.6%

• 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 (August 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.

This content was originally published on Evernest.co.