The Investment Rental Market Is Heating Up – Are You Ready?

Since the COVID pandemic hit in 2020, landlords and real estate investors have considered what their next steps should be on an almost daily basis. Unprecedented issues like rent and mortgage moratoriums, people leaving offices to work from home, and waiting for an effective vaccine has done little to help reinforce confidence in the market. As we start seeing some relief on the horizon, you may wonder if now is a good time to look at your commercial property portfolios. There are many hints that things are heating up for investment real estate in Jackson, Mississippi.

5 Key Reasons to Invest in Rental Real Estate Properties in Jackson, Mississippi  

Several sources are indicating that bidding wars have started for rental units. For example, The Business Journal’s article “Bidding wars for rental units? 2021’s rental market is also on fire” shares many instances that lessees are fighting for supremacy over a unit. Some will even offer to prepay six months in advance to secure a unit and Jackson, Mississippi, is no different. Roofstock offered some insight as to what is happening in The Magnolia State. Here are some highlights:

1. Jackson’s Population is Blossoming: For the past eight years, Jackson has seen a population explosion, including a 0.74% growth year after year. Additionally, there is a young populace aged 20 to 49 and a labor force participation rate of 62.4%.
2. Jackson’s Unemployment Rate Has Dropped: The area is enjoying a low unemployment rate of 6.4% in manufacturing, professional and business services, and government jobs. Experts forecast that Jackson can expect fast job growth over the next four years.
3. It May Have the Perfect Market to Buy In: Home values are increasing and have increased by 29.1% over the previous year. The median square foot listing price is $90, with some neighborhoods having a median price of around $134,000.
4. The Demand for Rental Properties is Growing: The rents in Jackson have increased 6% each year, with over three-quarters of units going for $1,000 per month or less. Almost half of total-occupied housing is renter-occupied.
5. Jackson Offers a High Quality of Life: The cost of living is below the national average. Jackson us ranked for being a great place for young professionals, as well as a retiree. The city also has a humid subtropical climate that can entice those who don’t like snow. Residents have many opportunities to enjoy various cultural opportunities, dining, and sports activities.

Work with the Investment Real Estate Experts at The Estes Group

When you struggle to identify the best place to invest, depend on a qualified and experienced investment real estate broker like The Estes Group. We serve Mississippi, Louisiana, Alabama, and Tennessee with a client-focused approach. Work with us to find the best properties available to accomplish your wealth-building goals. Contact us today to get started with investment real estate in Jackson, Mississippi.

Call us at 601-362-9633 or contact us online to discuss your real estate goals with our knowledgeable and experienced real estate investment staff. We’ll help you through the purchasing and management processes in Louisiana, Alabama, Mississippi, and Tennessee.