Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Jefferson County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $119,791 | $242,182 |
| Price Trend (Annual %) | 38.5% | 5.1% | 8.2% |
| Median Gross Rent | $443 | $923 | $1,342 |
| Rent Trend (Annual %) | 2.1% | 3.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Jefferson County is about 96% lower than in Mississippi. Rent is about 52% lower than the Mississippi average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Jefferson County, up about 38.5% and 2.1% a year respectively. Home prices are changing faster.
Median rent in Jefferson County rose about 14.1% between 2015 and 2023, from $388 to $443. Over the same span, rent in Mississippi rose about 28.9%.
Affordability
On average, housing unit costs 0.1 yearly household incomes in Jefferson County.
Buying the median-priced home in Jefferson County costs roughly 0.9 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 Jefferson County. The price-to-rent ratio in Mississippi is about 10.8.
| Metric | Jefferson County | Mississippi Avg | US Average |
|---|---|---|---|
| Median Home Price | $5,000 | $119,791 | $242,182 |
| Median Household Income | $35,326 | $55,084 | $78,145 |
| Price-to-Income Ratio | 0.1 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Jefferson County fell about 77.8%, while median household income rose about 52.2% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Jefferson County | Mississippi Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.3% | 59.0% | 58.2% |
| Rental Rate | 14.8% | 25.9% | 31.3% |
| Vacancy Rate | 29.9% | 15.1% | 10.6% |
| Median Tenure (years) | 26.0 | 16.0 | 15.0 |
| Median Year Moved In | 2000 | 2010 | 2011 |
Jefferson County has a homeownership rate of 55.3%, lower than the Mississippi average of 59.0%. Its housing vacancy rate is 29.9%, compared with 15.1% in Mississippi.
Housing Stock
| Metric | Jefferson County | Mississippi Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Jefferson County was built around 1984. On average, 2.8 people live in a home with about 5.5 rooms, staying for about 26.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Jefferson County, Mississippi.
What is the median home price in Jefferson County, Mississippi?
The median home price in Jefferson County, Mississippi is $5,000, lower than the Mississippi average of $119,791.
What is the average home price in Jefferson County, Mississippi?
The typical home price in %s, reported as the median sale price, is %s. 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 Jefferson County, Mississippi?
The median gross rent in Jefferson County, Mississippi is $443 per month, lower than the Mississippi average of $923.
What was the median gross rent in Jefferson County in 2020?
In 2020, the median gross rent in Jefferson County, Mississippi was $418 per month.
What is the price-to-rent ratio in Jefferson County, Mississippi?
The price-to-rent ratio in Jefferson County, Mississippi is about 0.9, meaning it would take roughly 0.9 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 Jefferson County.
Are home prices or rent rising faster in Jefferson County, Mississippi?
Both home prices and rent are rising in Jefferson County, up about 38.5% and 2.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Jefferson County, Mississippi?
55.3% of households in Jefferson County, Mississippi own their home, lower than the Mississippi average of 59.0%.
What is the vacancy rate in Jefferson County, Mississippi?
The housing vacancy rate in Jefferson County, Mississippi is 29.9%, higher than the Mississippi average of 15.1%.