The Jackson real estate market checks all the boxes when evaluating a potential investment opportunity. It offers affordability, appreciation, and demand without the level of competition seen in similar markets like Little Rock. But don’t let that fool you. Most homes still get multiple offers and stay on the market for seven days.
Jackson’s affordability, demand, and appreciation should put it on any property owner’s or real estate investor’s list.
Jackson, MS, not to be confused with Jackson Hole, Wyoming, has a lot to offer homeowners and real estate investors. It has a low cost of living and rich history reflected in the city’s culture and architecture. It’s also located along the Pearl River and surrounded by trees that draw outdoor enthusiasts from all over central Mississippi.
Real estate investors can find nearly every property type in Jackson’s property listings. Whether you’re looking for commercial or single-family rental properties, there’s a Jackson investment property.
The Jackson area is home to many great suburbs for investors to consider. They include Brandon, Brookhaven, Canton, Ridgeland, and Vicksburg.
Jackson is an affordable real estate market with a steady demand for rental properties. In fact, 42% of households are occupied by renters. Jackson also has an average rate of rental property vacancies.
According to Realtor, the median listing price in Jackson is $90 per square foot with a median sale price of $139,900. Zillow’s Home Value Index reports a 26.2% change since last year. The median rent in Jackson is $1,160 per month. Additionally, experts project real estate investors can expect a cap rate of 6.5% on a Jackson rental property. That’s not a bad return on investment. It offers real estate investors and property management companies a lot of potential to earn a good return on their investment.
Affordability, above-average appreciation, and demand combine to give a Jackson property investment a lot of potential.
Jackson is the capital of Mississippi and the state’s largest city. It’s already over twice the population of Gulfport, Mississippi’s second-largest city, and grows at a rate of 1.12% yearly.
Jackson’s primary industries are government, education, healthcare, and technology. The largest employers are Sta-Home Health & Hospice, the Mississippi Government, Jackson Public Schools, and Cal-Maine Foods. It’s also home to over a dozen colleges and universities. These employers provide jobs and fuel the city’s economy. In fact, there are over 4,000 jobs listed in the Jackson area on LinkedIn, and the unemployment rate is just 4.4%.
The Jackson real estate market has everything investors look for – affordability, appreciation, demand, and a strong economy. Jackson offers tremendous investment opportunities.
Want to invest in a Jackson rental property but don’t want to deal with real estate agents or management services? Sign up with Arrived to discover how we make real estate investment easy and affordable.