Jackson, Mississippi

The list cost in Jackson, Mississippi per square foot is $77. The metro area of Jackson has a higher per square foot list cost of $113.

For houses in Jackson, the presently listed cost median is $129,500. $850 is the rent cost median in Jackson. The metro area of Jackson has a higher rent cost median of $1,175.

The housing foreclosure rate in any area is instrumental in the economics of that area. The greater the foreclosure rate, the lower the value of homes in that area.

The first thing that happens when a home owner experiences a foreclosure is mortgage delinquency. Mortgage delinquency is the condition that occurs when a house owner does not make good on a mortgage payment.

3.7 percent is the percentage of house owners that have a mortgage delinquency in Jackson. This is quite a bit higher than the United States mortgage delinquency rate of 1.6 percent.

Jackson, Mississippi has a median household income of $32,866

When it comes to commercial real estate there is an interesting phenomena occurring in tertiary markets of commercial real estate. And that is that there has been a reversal. On a historical basis, commercial realty in tertiary markets has not done as well as larger markets in the United States. However, CAP rates have been going down in the last 2 years in the bigger markets.

The tertiary markets are now becoming more appealing to investors nationally and internationally. They are wanting higher rates of returns, and tertiary markets are promising all through the Southeast, which includes Jackson. A good example of this is apartment buildings in Atlanta where CAP rates are from 5.5% to 6.5 percent. But in tertiary markets with properties that are similar, CAP rates are from 7% to 8.5%. For investors, this produces a much better return rate.

However there is a trade off, and that is bigger markets including Chicago, New York and Atlanta, are stronger in the ability to gain in market value rapidly. This is an advantage compared to tertiary markets.