Jackson, Michigan Housing Market Prices
Jackson Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 18% below the Michigan median$113,804
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Median rent 21% below the Michigan median$897
Housing Market Overview
| Metric | Jackson | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,804 | $138,713 | $248,835 |
| Price Trend (Annual %) | 9.5% | 8.6% | 7.5% |
| Median Gross Rent | $897 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jackson is about 18% lower than in Michigan. Rent is about 21% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Jackson, up about 9.5% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Jackson rose about 37.7% between 2015 and 2024, from $652 to $897. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Jackson.
Buying the median-priced home in Jackson costs roughly 10.6 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Jackson. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Jackson | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,804 | $138,713 | $248,835 |
| Median Household Income | $44,640 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Jackson rose about 43.1%, while median household income rose about 33.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Jackson | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.0% | 64.6% | 58.5% |
| Rental Rate | 40.5% | 23.6% | 31.2% |
| Vacancy Rate | 10.5% | 11.8% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Jackson has a homeownership rate of 49.0%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 10.5%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Jackson | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1946 | 1972 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Jackson was built around 1946. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jackson, Michigan.
What is the median home price in Jackson, Michigan?
The median home price in Jackson, Michigan is $113,804, lower than the Michigan average of $138,713.
What is the average home price in Jackson, Michigan?
The typical home price in Jackson, Michigan, reported as the median sale price, is $113,804. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Jackson, Michigan?
The median gross rent in Jackson, Michigan is $897 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Jackson in 2020?
In 2020, the median gross rent in Jackson, Michigan was $729 per month.
What is the price-to-rent ratio in Jackson, Michigan?
The price-to-rent ratio in Jackson, Michigan is about 10.6, meaning it would take roughly 10.6 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Jackson.
Are home prices or rent rising faster in Jackson, Michigan?
Both home prices and rent are rising in Jackson, up about 9.5% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jackson, Michigan?
49.0% of households in Jackson, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Jackson, Michigan?
The housing vacancy rate in Jackson, Michigan is 10.5%, lower than the Michigan average of 11.8%.
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