Jackson, MS Housing Market

Market Overview

Jackson, Mississippi presents a moderate housing market with a PropertyIQ Score of 49 out of 100, just below the midpoint. The city’s median home value of $214,315 is about 8.5% above the state average of $197,606, and its median household income of $61,644 is roughly 9% above the state benchmark of $56,447. The unemployment rate is 3.5%, slightly lower than the state average of 3.6%. These figures suggest Jackson has a somewhat stronger economic base than the state overall, but the PropertyIQ score signals that housing market conditions are mixed rather than robust.

The score is shaped by home value momentum of 5.05% over the past 12 months and just 0.27% over the past three months, along with a median days on market of 73 days and a 17.6% share of listings with a price cut. The median home value remains above the state average, but the recent momentum figures and the year-over-year home value change of -$9 indicate that price growth has flattened or very slightly reversed. With 1,916 homes for sale, Jackson appears to have meaningful inventory, which, combined with slower selling times, points toward a buyer-friendly environment.

Key Trends

First, price momentum is cooling. The 12-month home value momentum of 5.05% shows some annual appreciation, but the 3-month momentum of only 0.27% and a year-over-year change of -$9 indicate that price gains have essentially stalled. This short-term flattening is a key reason the PropertyIQ Score sits below 50.

Second, the market pace favors buyers. The median days on market is 73, meaning homes are taking more than two months to sell on average. At the same time, 17.6% of listings have had a price cut, which suggests sellers are adjusting expectations to attract offers. With 1,916 homes for sale, buyers have options and negotiating room.

Third, Jackson’s rental market looks substantially stronger than the state benchmark. The rent index is $1,506, compared with a state average of $954. That gap is much wider than the home value gap, as Jackson’s median home value is only about 8.5% above the state average. This may reflect relatively strong rental demand or a supply imbalance, though population growth data is not available to confirm the demographic driver.

Fourth, affordability is roughly in line with the state average. The median home value of $214,315 and median household income of $61,644 produce a price-to-income ratio of about 3.5, nearly identical to the state-level ratio of about 3.5 based on the $197,606 median home value and $56,447 median household income. This means Jackson is not unusually expensive relative to local incomes, even though its home values are higher than the state average.

Who Is This Market For

Jackson may suit primary-home buyers who want a stable, moderately priced market with negotiating power. The price-to-income ratio is roughly 3.5, similar to the state average, and with a median days on market of 73 and 17.6% of listings cutting prices, buyers can take their time and potentially negotiate concessions. First-time buyers and move-up buyers with steady employment may find the current conditions more approachable than a fast-appreciation market.

The market may also appeal to rental property investors. The rent index of $1,506 is significantly above the state average of $954, while the median home value of $214,315 is only modestly above the state average. That combination can support rental income relative to purchase price. However, because home value momentum is flat to slightly negative, this is likely not a market for short-term flippers seeking quick appreciation.

Outlook

The near-term outlook for Jackson is stable but subdued. The 3-month home value momentum of 0.27% and the year-over-year change of -$9 suggest that prices are not currently gaining traction. With a median days on market of 73 and a 17.6% share of listings with price cuts, sellers will likely need to remain flexible on price and terms. The available inventory of 1,916 homes for sale should keep upward price pressure limited in the near term. At the same time, an unemployment rate of 3.5% and median household income of $61,644 provide a decent foundation for housing demand. Population growth data is unavailable, so it is difficult to project a surge in new buyers. Overall, the numbers support a moderate, buyer-leaning market with limited price growth and continued rental market strength relative to the state.