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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 31,031 people, 13,131 houses or apartments, and a median cost of homes of $125,564, 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 66.32% 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 ( 15.99%), large apartment complexes or high rise apartments ( 14.89%), and a few row houses and other attached homes ( 2.21%).
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 53.48% owning and 46.52% renting.
The housing in Jackson was primarily built before 1939 ( 53.21%), 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 ( 29.63%), followed by between 1970-1999 ( 14.06%). There's also some housing in Jackson built between 2000 and later ( 3.10%).
Vacant housing appears to be an issue in Jackson. Fully 11.26% 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.
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 92.96%, which ranks in the top 50% nationwide. This equates to an annual average Jackson house appreciation rate of 6.79%.
NeighborhoodScout's data show that during the latest twelve months, Jackson's appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, Jackson's appreciation rate has been 3.84%, which annualizes to a rate of 16.27%.
Importantly, this makes Jackson one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
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.
$125,564
for Michigan
for nation
13,131
$1,348 / per month