Department of Numbers

Jackson Tennessee Residential Rent and Rental Statistics

The median monthly gross residential rent in Jackson, TN (the Jackson metro area) was $811 in 2015 according to the Census ACS survey.1 Average gross rent in Jackson was $794 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Jackson median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Jackson Tennessee (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Tennessee Median Gross Rent $785 +2.48% +7.24%
Jackson, TN Median Gross Rent $811 +7.42% +13.11%

Jackson, TN Real Gross Rent Trends

At $811, real median gross rent in Jackson was at its highest level in 2015 since the series began in 2005. At $794, real average gross rent in Jackson was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Jackson: Jackson TN Median, Jackson TN Average, Tennessee Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Jackson

Date US
Median
Tennessee
Median
Jackson, TN
Median
Jackson, TN
Average
2015 $959 $785 $811 $794
2014 $930 $766 $755 $762
2013 $898 $743 $667 $645
2012 $886 $732 $717 $685
2011 $887 $728 $663 $611
2010 $901 $734 $738 $698
2009 $905 $733 $727 $689
2008 $920 $737 $793 $672
2007 $874 $702 $710 $677
2006 $883 $710 $747 $676
2005 $858 $687 $686 $613

Jackson Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Jackson Tennessee was 7.10% according to Census ACS data.

Rental Vacancy Rate in Jackson Tennessee

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Tennessee 7.13% -0.11% -0.76%
Jackson, TN 7.10% -0.03% -4.28%

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 10.91% to 7.10%. Data records for this series originated in 2005.

Rental Vacancy Rate: Jackson TN, Tennessee, US

Rental vacancy rate in Tennessee

Historical Rental Vacancy Rate data for Jackson

Date US Tennessee Jackson, TN
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%
2008 7.86% 10.30% 9.92%
2007 7.87% 9.20% 10.88%
2006 7.70% 9.61%
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 20.91% in 2015 according to the ACS.

Jackson Tennessee Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Tennessee 19.93% -0.90% -0.56%
Jackson, TN 20.91% -1.67% +0.61%

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 2014 (relative to the 2005 series origin) at 22.58%. Since then it has fallen by 1.67% to 20.91%.

Fraction of Income towards Rent: Jackson TN, Tennessee, US

Percent of median household income going towards median monthly gross rent in Jackson Tennessee

Historical Data for Annual Rent as a Fraction of Income in Jackson Tennessee

Date US Tennessee Jackson, TN
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%
2008 19.00% 18.16% 19.99%
2007 18.66% 17.96% 20.63%
2006 18.90% 18.25% 21.10%
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 2015 33.37% of households were renters according to Census ACS data.

Jackson Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Tennessee 34.18% +0.32% +0.87%
Jackson, TN 33.37% -2.31% -1.95%

Trends in the Jackson, TN Renter Fraction

The Jackson household renter fraction peaked in in 2014 at 35.68% and is now 2.31% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Jackson TN, Tennessee, US

Fraction of renters in Jackson

History of Jackson Renter Fraction

Date US Tennessee Jackson, TN
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%
2008 33.36% 30.17% 32.25%
2007 32.80% 30.06% 34.29%
2006 32.73% 30.10% 30.31%
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.