Hello Brenty,
Below you will find the result of my research for information
regarding the Jackson, MS real estate market. My findings contain the
material requested such as population, home prices, demographics and
local economy. I am providing freely available data because I was not
able to locate a fee based report.
The National Association of REALTORs offers downloadable 10-page
reports for specific markets across the United States.
Home Price Analysis for Jackson, MS
Market-by-Market Home Price Analysis Reports
October/November 2005
Executive Summary
?With home prices rising strongly in most parts of the country, there
has been widespread media coverage on the possibility of a housing
market bust. A thorough analysis of the Jackson metro market, as
detailed below, reveals that there is very little danger of this. In
fact, the local housing market is in excellent shape with a potential
for significant housing equity gains, particularly for homebuyers who
plan to remain in their house for the long run.
The local market has very favorable home price-to-income ratio and
even better mortgage servicing cost-to-income ratio. The latter ratio
is currently below the local historical average. It implies no
widespread financial overstretching to purchase a home in the region.
Any respectable gains in the local job market could translate into
substantial home price gains.?
Download the complete report here:
http://www.realtor.org/Research.nsf/files/Jackson.pdf/$FILE/Jackson.pdf
Other markets
http://www.realtor.org/research.nsf/pages/anti-bubblereports
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Jackson Association of REALTORS offers Area Sales Statistics
Jackson Metro area sales data covers 7 counties in Central Mississippi
Market Data as of March 17, 2006
View the table here:
http://www.jacksonrealtor.com/Information/AreaSalesStatistics.php
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Changes in Single Family Home Prices
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Percent Change in MSA House Prices through Q3 2005
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MSA Rank 1-Yr. 1-Qtr. 5-Yr
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Jackson, MS 64 6.88 2.09 25.13
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Source: OFHEO
http://library.hsh.com/read_article-hsh.asp?row_id=1243
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Median home prices
Metro area: Jackson, MS
2004 Q3: (thousands) $121.1
2005 Q3: (thousands) $136.5
Change: 12.7%
USA Today: 11/15/2005
http://www.usatoday.com/money/economy/housing/2005-11-15-metroprices.htm
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Nationally, median home prices gained 8.8 percent in the fourth
quarter versus the same period in 2003, according to a National
Association of Realtors (NAR) report.
Metro Area: Jackson
State: MS
Percent Change: 17.5%
Median Price: $123,600
Source: National Association of Realtors
CNN Money
http://money.cnn.com/pf/features/lists/nar_4q/
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From the Office of Federal Housing Enterprise Oversight (OFHEO)
March 1, 2006
OFHEO House Price Index
Percent Change in House Prices
Period Ended December 31, 2005
MSA: Jackson, MS
Ranking: 201
1-Yr.: 5.39
Qtr. -0.33
5-Yr: 24.43
OFHEO : March 1, 2006
http://www.ofheo.gov/media/pdf/4q05hpi.pdf
Percent Change in House Prices
Period Ended March 31, 2005
See page 25: Jackson, MS
http://www.ofheo.gov/media/pdf/1q05hpi.pdf
Percent Change in House Prices
Period Ended March 31, 2004
See page 20: Jackson, MS
http://www.ofheo.gov/media/pdf/1q04hpi.pdf
Percent Change in House Prices
Period Ended September 30, 2003
See page 26: Jackson, MS
http://www.ofheo.gov/media/pdf/3q03hpi.pdf
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JACKSON PROFILE
The estimated population, in 2003, was 179,599.
Income snapshot
Median household income
Local $30,414
National $41,994
Crime: ?The number of violent crimes recorded by the FBI in 2003 was
1,648. The number of murders and homicides was 45. The violent crime
rate was 9.1 per 1,000 people.?
?Among major American cities, ranked No. 4 in percentage black population (70.6%)?
http://www.epodunk.com/cgi-bin/genInfo.php?locIndex=19895
Census & demographics
Jackson, MS
City
Population 2000: 184,256
Metro area: Jackson
POPULATION
Total population 184,256
Square miles (land) 104.90
Population per square mile 1,756.44
GENDER
Male 85,656
Female 98,600
AGE Number Pct
15 or younger 43,879 23.8
16-24 31,433 17.1
25-44 53,695 29.1
45-64 35,188 19.1
65+ 20,061 10.9
Average age (years): 33.78
RACE AND ETHNICITY Number Pct
White 51,208 27.8
Black or African American 130,151 70.6
American Indian and Alaska native 236 0.1
Asian 1,056 0.6
Native Hawaiian and other
Pacific islander 24 0.0
Some other race 344 0.2
Two or more races 1,237 0.7
Hispanic or Latino 1,451 0.8
Sources: U.S. Census Bureau, 2000 Census; Epodunk
http://www.epodunk.com/cgi-bin/popInfo.php?locIndex=19895
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Housing in Jackson
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HOUSING UNITS
Total housing units 75,665
RENTER-OCCUPIED HOUSING UNITS
Number Pct
Renter-occupied housing units 28,519 37.7
Average number of household members 2.48
Average number of rooms 4.11
Average number of vehicles 1.16
Median year structure was built 1972
Median year householder moved in 1998
Median rent ($) 399
Median rent asked for vacant units ($) 385
Number Pct
Rent includes utilities 2,662 9.3
Rent as a pct of household revenue 27.2
OWNER-OCCUPIED HOUSING UNITS
Number Pct
Owner-occupied housing units 39,286 51.9
Average number of household members 2.70
Average number of rooms 6.22
Average number of vehicles 1.90
Median year structure was built 1966
Median year householder moved in 1989
Median value ($) 64,200
Number Pct
With mortgage or contract to purchase 26,110 66.5
With second mortgage, equity loan 5,027 12.8
Median price asked for vacant housing ($) 51,800
Monthly cost, with mortgage ($) 769
Monthly cost, without mortgage ($) 257
http://www.epodunk.com/cgi-bin/housOverview.php?locIndex=19895
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Demographics
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Direct links:
Income in Jackson
http://www.epodunk.com/cgi-bin/incomeOverview.php?locIndex=19895
Marital status of adults in Jackson
http://www.epodunk.com/cgi-bin/maritalInfo.php?locIndex=19895
Place of birth of people in Jackson
http://www.epodunk.com/cgi-bin/birthPlace.php?locIndex=19895
Mobility
http://www.epodunk.com/cgi-bin/mobilityInfo.php?locIndex=19895
EDUCATIONAL ATTAINMENT
http://www.epodunk.com/cgi-bin/educLevel.php?locIndex=19895
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Jackson Mississippi Social information
Social Demographics - School, Marital, Ancestry
Direct link:
http://www.hellojackson.com/Social.cfm
Jackson Mississippi Economic information
Economic - Employment, Income, Industry
Direct link:
http://www.hellojackson.com/Economic.cfm
Jackson Mississippi Housing information
Direct link:
Housing - Occupancy, Mortgage, Rent
http://www.hellojackson.com/Housing.cfm
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Jackson, MS
Population, town and surrounding area: 185,764
Population, age 50+: 47,525
Population growth (since 1999), age 50+: 1.39%
Housing
Median home price $103,474
Home price gain (2-5 year annual gain) 4.52%
Financial
Median household income (per year) $34,834
Community
Median age 31
Residents with college degree 16%
CNN
http://money.cnn.com/best/bpretire/snapshots/33133.html
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The Census Bureau is a source of a wealth of information.
Geographic Area: Jackson city, Mississippi
HOUSING OCCUPANCY Number Percent
Total housing units 75,678 100.0
Occupied housing units 67,841 89.6
Vacant housing units 7,837 10.4
For seasonal, recreational, or occasional use 268 0.4
Homeowner vacancy rate (percent) 2.2 (X)
Rental vacancy rate (percent) 11.7 (X)
HOUSING TENURE
Occupied housing units 67,841 100.0
Owner-occupied housing units 39,328 58.0
Renter-occupied housing units 28,513 42.0
Average household size of owner-occupied unit 2.68 (X)
Average household size of renter-occupied unit 2.51 (X
Population, sex , age and other demographic information is available
at the link below.
http://factfinder.census.gov/servlet/QTTable?_bm=y&-geo_id=16000US2836000&-qr_name=DEC_2000_SF1_U_DP1&-ds_name=DEC_2000_SF1_U&-_lang=en&-_sse=on
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At the link below you will find an economic fact sheet for Jackson city, MS
Included are selected statistics from the 2002 economic census.
http://factfinder.census.gov/servlet/SAFFEconFacts?_event=ChangeGeoContext&geo_id=E6000US2800036000&_geoContext=01000US&_street=&_county=jackson&_cityTown=jackson&_state=04000US28&_zip=&_lang=en&_sse=on&ActiveGeoDiv=geoSelect&_useEV=&pctxt=bg&pgsl=010&_submenuId=business_1&ds_name=&_ci_nbr=&qr_name=®=%3A&_keyword=&_industry=
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Population, Housing Units, Area, and Density
Jackson city
Population 184,256
Housing units 75,678
Area in square miles
Total area 106.82
Water area 1.92
Land area 104.90
Density per square mile of land area
Population 1,756.4
Housing unit 721.4
http://factfinder.census.gov/servlet/GCTTable?_bm=y&-geo_id=04000US28&-_box_head_nbr=GCT-PH1&-ds_name=DEC_2000_SF1_U&-format=ST-7
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The American Community Survey
"The 2004 data products include estimates of demographic and economic
characteristics of people, households and housing units (both occupied
and vacant) for every state in the Nation, most areas with a
population of 250,000 or more, and selected areas of 65,000 or more."
http://factfinder.census.gov/servlet/DatasetMainPageServlet?_program=ACS&_submenuId=datasets_2&_lang=en&_ts=
Instructions:
Select List all Tables
Select DP-4 Selected Housing Characteristics 2004
NEXT
Select a Geographic type: Metropolitan Statistical Area
Select a geographic area: Jackson MS
Click SHOW RESULT
You will obtain the following information:
Jackson, MS MSA
Housing - Occupancy and Structure, Housing Value and Costs, Utilities...
Demographic - Sex and Age, Race, Relationship, Household by Type
Social - Education, Marital Status, Fertility, Grandparents...
Economic - Income, Employment, Occupation, Commuting to Work...
Narrative - Text profile with graphs for easy analysis
Source: U.S. Census Bureau, 2004 American Community Survey
You may also download the 2004 American Community Survey reports for
Jackson MS at the following URLs:
Housing Information
File: Housing.doc
http://s27.yousendit.com/d.aspx?id=1LAMHDQ9KTPKW29UNC995M6HOO
Demographic Information
File:Demographic.doc
http://s27.yousendit.com/d.aspx?id=22518661DZADS0WL9PPD6B9EM1
Social Information
File:Social.doc
http://s27.yousendit.com/d.aspx?id=1S51AMTYHSFF93TELZJCT05QY5
Economic Information
File: Economic.doc
http://s27.yousendit.com/d.aspx?id=1H0CMDCV3Q8IL2XNCPY5FPAKF1
Graphs
File: Graphs.doc
http://s27.yousendit.com/d.aspx?id=2C7Y8LBDWN6R20IRFCK2VWVT2O
These files will remain on the server for a limited period, so please
download them as soon as possible.
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Search criteria:
Report Jackson MS "median home prices"?
"Jackson, MS" real estate market
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I hope the information provided is helpful!
Best regards,
Bobbie7 |
