Department of Numbers

Jackson Tennessee Residential Rent and Rental Statistics

The median monthly gross residential rent in Jackson, TN (the Jackson metro area) was $834 in 2017 according to the Census ACS survey.1 Average gross rent in Jackson was $763 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Jackson median and average rent data will be released in September of 2019.

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 (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Tennessee Median Gross Rent $833 +1.71% +5.71%
Jackson, TN Median Gross Rent $834 +3.47% +7.34%

Jackson, TN Real Gross Rent Trends

Median gross rent for Jackson peaked in real terms in 2015 at $834 and is now $0 (0.00%) lower. Average gross rent for Jackson peaked in real terms in 2015 at $817 and is now $54 (6.61%) lower.

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
2017 $1,012 $833 $834 $763
2016 $996 $819 $806 $730
2015 $987 $808 $834 $817
2014 $956 $788 $777 $784
2013 $924 $764 $686 $664
2012 $912 $753 $738 $705
2011 $912 $749 $682 $629
2010 $927 $755 $760 $719
2009 $931 $754 $748 $709
2008 $947 $758 $816 $691
2007 $899 $722 $730 $696
2006 $909 $730 $768 $695

Jackson Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Jackson Tennessee was 10.35% according to Census ACS data.

Rental Vacancy Rate in Jackson Tennessee

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Tennessee 6.67% -0.01% -0.57%
Jackson, TN 10.35% +3.21% +3.22%

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 7.66% to 10.35%. Data records for this series originated in 2005. From a 2015 post peak low of 7.10%, the rental vacancy rate has increased by 3.25%.

Rental Vacancy Rate: Jackson TN, Tennessee, US

Rental vacancy rate in Tennessee

Historical Rental Vacancy Rate data for Jackson

Date US Tennessee Jackson, TN
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%
2008 7.86% 10.30% 9.92%
2007 7.87% 9.20% 10.88%
2006 7.70% 9.61%

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 22.97% in 2017 according to the ACS.

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

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Tennessee 19.47% -0.45% -1.36%
Jackson, TN 22.97% +0.48% +0.39%

Trends in Jackson, TN Rent as a Fraction of Income

Jackson renters paid 22.97% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

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
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%
2008 19.00% 18.16% 19.99%
2007 18.66% 17.96% 20.63%
2006 18.90% 18.25% 21.10%

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 2017 34.92% of households were renters according to Census ACS data.

Jackson Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Tennessee 34.57% -0.34% +0.71%
Jackson, TN 34.92% -0.98% -0.76%

Trends in the Jackson, TN Renter Fraction

The Jackson household renter fraction peaked in in 2016 at 35.90% and is now 0.98% 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
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%
2008 33.36% 30.17% 32.25%
2007 32.80% 30.06% 34.29%
2006 32.73% 30.10% 30.31%

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.