Jackson Tennessee Residential Rent and Rental Statistics
The median monthly gross residential rent in Jackson, TN (the Jackson metro area) was $772 in 2019 according to the Census ACS survey.1 Average gross rent in Jackson was $714 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Jackson median and average rent data will be released in September of 2021.
Data is also available below for Jackson rental vacancy rates, Jackson rent as a percent of median income and the fraction of renters in Jackson.
Real Gross Rent in Jackson Tennessee (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Tennessee Median Gross Rent | $904 | +3.08% | +7.11% |
| Jackson, TN Median Gross Rent | $772 | -0.39% | -7.10% |
Jackson, TN Real Gross Rent Trends
Median gross rent for Jackson peaked in real terms in 2015 at $860 and is now $88 (10.23%) lower. Average gross rent for Jackson peaked in real terms in 2015 at $842 and is now $128 (15.20%) lower.
Real Gross Rent in Jackson: Jackson TN Median, Jackson TN Average, Tennessee Median, US Median
Real Gross Rent History for Jackson
| Date | US Median |
Tennessee Median |
Jackson, TN Median |
Jackson, TN Average |
|---|---|---|---|---|
| 2019 | $1,097 | $904 | $772 | $714 |
| 2018 | $1,077 | $877 | $775 | $740 |
| 2017 | $1,043 | $859 | $860 | $787 |
| 2016 | $1,027 | $844 | $831 | $753 |
| 2015 | $1,017 | $833 | $860 | $842 |
| 2014 | $986 | $813 | $801 | $809 |
| 2013 | $953 | $788 | $708 | $684 |
| 2012 | $940 | $777 | $761 | $727 |
| 2011 | $941 | $772 | $703 | $648 |
| 2010 | $955 | $779 | $783 | $741 |
| 2009 | $960 | $777 | $772 | $731 |
| 2007 | $927 | $745 | $753 | $718 |
| 2005 | $910 | $729 | $728 | $650 |
Jackson Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Jackson Tennessee was 5.30% according to Census ACS data.
Rental Vacancy Rate in Jackson Tennessee
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Tennessee | 7.27% | -0.29% | +0.59% |
| Jackson, TN | 5.30% | -5.76% | -1.84% |
Trends in Jackson, TN Rental Vacancy Rate
The rental vacancy rate in Jackson peaked in 2009 at 18.01%. Since then it has fallen by 12.71% to 5.30%. Data records for this series originated in 2005.
Rental Vacancy Rate: Jackson TN, Tennessee, US
Historical Rental Vacancy Rate data for Jackson
| Date | US | Tennessee | Jackson, TN |
|---|---|---|---|
| 2019 | 5.97% | 7.27% | 5.30% |
| 2018 | 6.15% | 7.56% | 11.06% |
| 2017 | 6.18% | 6.67% | 10.35% |
| 2016 | 5.89% | 6.68% | 7.14% |
| 2015 | 5.85% | 7.13% | 7.10% |
| 2014 | 6.32% | 7.24% | 7.13% |
| 2013 | 6.49% | 7.86% | 7.81% |
| 2012 | 6.77% | 7.89% | 11.38% |
| 2011 | 7.40% | 8.54% | 14.03% |
| 2010 | 8.17% | 10.33% | 15.20% |
| 2009 | 8.43% | 10.52% | 18.01% |
| 2007 | 7.87% | 9.20% | 10.88% |
| 2005 | 7.74% | 8.82% | — |
Rent as a Fraction of Income
Using median household income data for Jackson, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Jackson, median monthly gross rent as a fraction of median household income was 19.02% in 2019 according to the ACS.
Jackson Tennessee Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Tennessee | 19.35% | -0.38% | -0.58% |
| Jackson, TN | 19.02% | -1.00% | -3.46% |
Trends in Jackson, TN Rent as a Fraction of Income
The fraction of median Jackson household income required to pay median monthly gross rent peaked in 2017 (relative to the 2005 series origin) at 22.97%. Since then it has fallen by 3.95% to 19.02%.
Fraction of Income towards Rent: Jackson TN, Tennessee, US
Historical Data for Annual Rent as a Fraction of Income in Jackson Tennessee
| Date | US | Tennessee | Jackson, TN |
|---|---|---|---|
| 2019 | 20.03% | 19.35% | 19.02% |
| 2018 | 20.50% | 19.73% | 20.02% |
| 2017 | 20.13% | 19.47% | 22.97% |
| 2016 | 20.43% | 19.92% | 22.49% |
| 2015 | 20.63% | 19.93% | 20.91% |
| 2014 | 20.89% | 20.83% | 22.58% |
| 2013 | 20.78% | 20.26% | 20.86% |
| 2012 | 20.65% | 20.48% | 20.30% |
| 2011 | 20.70% | 20.58% | 20.47% |
| 2010 | 20.50% | 20.17% | 20.79% |
| 2009 | 20.12% | 19.61% | 20.84% |
| 2007 | 18.66% | 17.96% | 20.63% |
| 2005 | 18.89% | 18.00% | 18.21% |
Renter Fraction in Jackson Tennessee
You can calculate the renter fraction in Jackson in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Jackson as a fraction of total Jackson households. In 2019 35.04% of households were renters according to Census ACS data.
Jackson Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Tennessee | 33.49% | -0.28% | -1.42% |
| Jackson, TN | 35.04% | -2.27% | -0.86% |
Trends in the Jackson, TN Renter Fraction
The Jackson household renter fraction peaked in in 2018 at 37.31% and is now 2.27% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Jackson TN, Tennessee, US
History of Jackson Renter Fraction
| Date | US | Tennessee | Jackson, TN |
|---|---|---|---|
| 2019 | 35.89% | 33.49% | 35.04% |
| 2018 | 36.05% | 33.77% | 37.31% |
| 2017 | 36.13% | 34.57% | 34.92% |
| 2016 | 36.88% | 34.91% | 35.90% |
| 2015 | 36.97% | 34.18% | 33.37% |
| 2014 | 36.90% | 33.86% | 35.68% |
| 2013 | 36.50% | 33.62% | 34.94% |
| 2012 | 36.09% | 33.31% | 35.32% |
| 2011 | 35.42% | 32.72% | 32.15% |
| 2010 | 34.65% | 31.87% | 35.09% |
| 2009 | 34.13% | 30.85% | 27.62% |
| 2007 | 32.80% | 30.06% | 34.29% |
| 2005 | 33.10% | 30.74% | 33.14% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
