Jackson, MI Real Estate Market

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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Jackson, MI Housing Market Trends

With a population of 32,440, 13,244 total housing units (homes and apartments), and a median house value of $69,068, house prices in Jackson are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Jackson, accounting for 67.58% of the city's housing units. Other types of housing that are prevalent in Jackson include duplexes, homes converted to apartments or other small apartment buildings ( 15.41%), large apartment complexes or high rise apartments ( 14.55%), and a few row houses and other attached homes ( 1.52%).

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 54.02% owning and 45.98% renting.

The housing in Jackson was primarily built before 1939 ( 54.42%), making the housing stock in Jackson some of the oldest overall in America, although there is a range of ages of homes in Jackson. The next most important housing age is between 1940-1969 ( 30.48%), followed by between 1970-1999 ( 12.63%). There's also some housing in Jackson built between 2000 and later ( 2.47%).

Vacant housing appears to be an issue in Jackson. Fully 14.49% 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

Appreciation rates for homes in Jackson have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 48.11%, which ranks in the top 40% nationwide. This equates to an annual average Jackson house appreciation rate of 4.01%.

NeighborhoodScout's data show that during the latest twelve months, Jackson's appreciation rate, at 6.23%, has been at or slightly above the national average. In the latest quarter, Jackson's appreciation rate has been 0.85%, which annualizes to a rate of 3.46%.

Notably, Jackson's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Jackson's latest annual appreciation rate is lower than 50% of the other cities and towns in Michigan.

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:
$69,068

Jackson, MI HOME PRICES

> $1,168,000
0.1%
0.1%
$876,001 - $1,168,000
0.0%
0.0%
$584,001 - $876,000
0.2%
0.2%
$467,001 - $584,000
0.1%
0.1%
$351,001 - $467,000
0.5%
0.5%
$233,001 - $351,000
3.0%
3.0%
$117,001 - $233,000
14.8%
14.8%
$59,001 - $117,000
50.6%
50.6%
$0 - $59,000
30.7%
30.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for MI

Value Relative To Nation

Number Of Homes And Apartments:
13,244

Jackson Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
12.86% 0.57%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$937 / per month

Homeownership Rate

Owners
54.0%
54.0%
Renters
46.0%
46.0%
Vacant
14.5%
14.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.5%
2.5%
1970 - 1999
12.6%
12.6%
1940 - 1969
30.5%
30.5%
1939 or Older
54.4%
54.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.6%
67.6%
Townhomes
1.5%
1.5%
Small Apt. Buildings
15.4%
15.4%
Apt. Complexes
14.5%
14.5%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
12.2%
12.2%
2 Bedrooms
33.6%
33.6%
3 Bedrooms
38.0%
38.0%
4 Bedrooms
11.0%
11.0%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES