Home Affordability in Jackson, MS
The median home price in Jackson is $115,000 with a median household income of $34,870. Housing is relatively affordable compared to local incomes.
Median Home Price
$115,000
Median Income
$34,870
Price-to-Income Ratio
3.3x
Est. Affordable Home
$136,000
Property Tax Rate
1.16%
Annual Property Tax
$1,334
Sales Tax Rate
8.00%
Cost of Living Index
78
Buying a Home in Jackson
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $34,870 in Jackson can afford a monthly housing payment of approximately $814. This translates to a home price of roughly $136,000, which is at or above the median home price — the typical home is within reach for a median-income household.
Property taxes on a median-priced home in Jackson would be approximately $1,334 per year ($111/month) at the effective rate of 1.16%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $3,450 | $111,550 | Yes |
| 5% | $5,750 | $109,250 | Yes |
| 10% | $11,500 | $103,500 | Yes |
| 20% | $23,000 | $92,000 | No |
Use Our Home Affordability Calculator
Get a personalized estimate based on your income, debts, down payment, and credit score.
Calculate Now