News Summary
The housing market in Jackson, Mississippi, is experiencing a notable surge in home prices, with the typical home value rising to $244,127. Despite high mortgage rates reaching 6.81%, affordability concerns persist for potential buyers. This trend reflects a larger national pattern as the median home value in the U.S. also increases. Regional disparities in pricing showcase the competitive nature of the market, leading to challenges in homeownership access amid rising borrowing costs.
Jackson, Mississippi – Home Prices Surge Amid Rising Interest Rates
The housing market in Jackson, Mississippi, is witnessing a significant surge in home prices, driven by various local and national economic factors. As of May 2025, the typical home value in the Jackson metro area rose to $244,127, marking a 3.8% increase over the past year and a remarkable 39.8% increase over five years. This trend reflects a broader pattern across the United States, where the median home value reached $366,289, up by 0.4% compared to the previous year.
Despite these increases in home values, the cost of borrowing continues to climb, with the 30-year fixed mortgage rate hitting 6.81% as of June 18, 2025. The high mortgage rates have raised concerns regarding affordability, making it challenging for many potential buyers to enter the market.
Most Expensive Cities for Homes in Mississippi
Recent data from Stacker has highlighted the most expensive cities for homes in Mississippi, showcasing significant regional differences. The metro areas with the highest number of cities listed among the top 30 most expensive places to buy a home are:
- Memphis, TN-MS-AR: 9 cities
- Jackson, MS: 7 cities
- Gulfport-Biloxi, MS: 6 cities
- Oxford, MS: 4 cities
- Hattiesburg, MS: 1 city
- Columbus, MS: 1 city
- Picayune, MS: 1 city
- Starkville, MS: 1 city
Detailed Home Value Statistics
A closer look at typical home values in significant metro areas reveals a more nuanced landscape:
- Jackson, MS: Typical home value $244,127, 1-year price change +3.8%, 5-year price change +39.8%
- Gulfport-Biloxi, MS: Typical home value $245,221, 1-year price change +3.6%, 5-year price change +33.3%
- Memphis, TN-MS-AR: Typical home value $247,277, 1-year price change +0.7%, 5-year price change +40.6%
- Oxford, MS: Typical home value $251,364, 1-year price change +10%, 5-year price change +17.2%
- Picayune, MS: Typical home value $257,686, 1-year price change +2.6%, 5-year price change +24.0%
Some regions have demonstrated even sharper increases. Oxford stands out with a home value of $396,879 and a one-year price change of 10.4%, indicating a robust demand in that area.
Challenges to Affordability
The prominent trend of rising home prices presents a pressing challenge for many prospective buyers throughout Mississippi. While cities like Gulfport-Biloxi and Jackson are seeing favorable appreciation rates, the overall impact of increasing prices against high mortgage rates presents a dual challenge that could restrict access to home ownership.
Areas like Memphis and Gulfport-Biloxi have also experienced considerable increases, with home price growth contributing to ongoing discussions about housing affordability. The varying growth rates among these cities highlight both the competitive nature of the market and the risks associated with rising borrowing costs.
A Look Ahead
As market trends continue to evolve, many buyers in Jackson, Mississippi, and surrounding areas remain hopeful for stability that may enhance affordability. However, with rising interest rates complicating the landscape, potential homeowners are faced with significant decisions regarding their housing options.
In summary, while home values are on the rise in many parts of Mississippi, making the prospect of homeownership increasingly daunting, economic factors and market dynamics will play a crucial role in shaping the future housing landscape in the state.
Deeper Dive: News & Info About This Topic
HERE Resources
Discover the Top 9 Retirement Destinations in Mississippi
Exploring the Rising Home Values in Mississippi’s Priciest Cities
The Housing Market in Mississippi: Prices Rise Amidst Ongoing Frenzy
Real Estate Buzzing: Home Prices Soaring Across Mississippi Cities
Additional Resources
- Leader Call: Cities with the Most Expensive Homes in Mississippi
- Google Search: Mississippi Housing Market
- Norada Real Estate: Housing Markets Facing Decline
- Wikipedia: Real Estate
- Newsweek: City with Jumping Home Prices
- Google Scholar: Mississippi Home Prices
- SFGate: Mississippi’s Starter Homes Cost
- Encyclopedia Britannica: Real Estate
- Stacker: Fastest Growing Home Prices in Mississippi
- Google News: Mississippi Real Estate
Author: STAFF HERE OXFORD WRITER
The OXFORD STAFF WRITER represents the experienced team at HEREOxford.com, your go-to source for actionable local news and information in Oxford, Lafayette County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Oxford Film Festival, Double Decker Arts Festival, and University of Mississippi football games. Our coverage extends to key organizations like the Oxford-Lafayette County Chamber of Commerce and the University of Mississippi, plus leading businesses in education and retail that power the local economy such as Ole Miss Athletics and Square Books. As part of the broader HERE network, we provide comprehensive, credible insights into Mississippi's dynamic landscape.
