Jackson County

Jackson County, Mississippi comes in with a gross rent-to-price ratio of 7.54%, which puts it firmly on the cash-flow side of the spectrum relative to most markets nationally, though the cap rate of 4.91% tells a more cautious story once expenses are layered in. At a median home price of $214,695 and median rent of $1,349.68, the raw yield looks attractive, but the model's base-case underwrite at 6.85% financing produces a monthly mortgage of $1,125 against $472 in estimated expenses, leaving you with negative $248 per month in cash flow and a cash-on-cash return of -6.03%. That gap is not unusual for a leveraged hold at current rates, and the cap rate of 4.91% does suggest the underlying asset economics are reasonable, but investors running thin leverage assumptions need to stress-test their numbers carefully before penciling this as a cash-flow play. Appreciation is not going to bail you out: year-over-year home price growth sits at just 0.44%, and the appreciation score of 54 out of 100 reflects a market that simply does not move. This is a market where you either find below-market acquisitions, negotiate seller concessions, or wait for the rate environment to shift before the cash-on-cash math works.

Given that profile, Jackson County suits an investor who is hunting for value-add or deeply discounted acquisitions rather than one willing to pay retail and hold at a loss. The affordability index of 84 and the overall score of 66 place it in the 70th percentile nationally among 1,000 counties, which is a meaningful signal that pricing has not been bid up. The stability score of 50, however, is a real flag: this is not a set-it-and-forget-it market where you can expect reliable occupancy across all asset classes. A value-add operator who can buy below the $214,695 median, force equity through renovation, and reposition for higher rents is the natural buyer here. A straight appreciation buyer has very little data to support that thesis. A pure cash-flow buyer at current financing costs is fighting the math unless they bring a larger down payment, buy at a meaningful discount to median, or hold in an all-cash or seller-financed structure.

Mississippi's Gulf Coast proximity shapes Jackson County's economic base in ways that matter to rental demand. The county seat of Pascagoula anchors the local economy around shipbuilding and defense manufacturing, with Huntington Ingalls Industries operating one of the largest naval shipbuilding facilities in the United States. That kind of industrial employer creates exactly the steady, blue-collar rental demand that supports consistent occupancy for workforce housing investors. Defense-adjacent employment tends to carry more cycle resistance than retail or hospitality jobs, which is relevant given the stability score of 50 and a population of 143,721 that is neither growing rapidly nor shrinking dramatically. The military and defense presence also draws a rotating population of contractors and military-adjacent workers who often prefer rentals over ownership, which is a structural tailwind for the landlord even when the broader market feels soft.

The combined monthly tax and insurance burden of $234 is already baked into the estimated expenses, and at a state-average effective property tax rate of 0.81%, Mississippi's rate qualifies as normal rather than a meaningful drag or meaningful tailwind. That said, the caveat matters: 0.81% is a state-average estimate per Tax Foundation 2024 data, and actual Jackson County township-level rates may differ from that figure, so verify the specific parcel's assessed value and millage rate before closing. On the insurance side, Mississippi Gulf Coast properties carry real catastrophic weather exposure, and the 0.50% insurance estimate deserves scrutiny depending on how close the specific property sits to flood zones or hurricane corridors. If you are buying near the coast, get actual insurance quotes before you underwrite, because the gap between a state-average assumption and a real coastal premium can materially change the cash-flow picture.

The concentration risk here is real: when a single employer, or a single federal defense contract, drives a meaningful portion of the county's economic activity, any disruption to that anchor ripples into rental demand quickly. Investors should also track population trends carefully. A stability score of 50 reflects genuine uncertainty, and without visibility into occupancy data or demographic momentum, the prudent underwrite assumes at least some periodic vacancy rather than projecting full occupancy across the hold period.

Compared to its neighbors, Jackson County sits at an overall score of 66, which is either the top or near the top of this peer group. Rankin County scores 69 and actually posts a slightly stronger gross yield at 7.95%, but its median home price of $261,732 means you are committing significantly more capital per door for a marginally better yield. Madison County scores 64, has a median price of $329,801, and a rent-to-price ratio of just 6.21%, making it an appreciation-oriented suburban market that does not compete on cash-flow math at all. Simpson County at $145,629 median is the cheapest entry point in the group, but its score of 63 suggests the lower price comes with meaningful quality or demand trade-offs. Union County and Tishomingo County, both without rent data provided here, score 66 and 65 respectively at lower price points than Jackson, and may deserve a look if your thesis is maximum affordability with similar risk profile. Choose Jackson County over its neighbors when the Huntington Ingalls employment base is central to your thesis, when you want the largest population base in the peer group at 143,721 residents, and when your acquisition strategy targets the value-add workforce housing segment rather than retail pricing.