Market Information & Listings
Residential
Market Information
Downtown Jackson is flourishing. As the region’s employment center and cultural heart, Downtown Jackson is becoming a world-class neighborhood. Over 29,000 Downtown employees, over 14,000 Medical District employees and more than 40,000 area college students support the region’s potential. With existing parks and open spaces, as well as an abundance of entertainment destinations, Downtown Jackson is ideally situated for residential development.
Urban pioneers have taken advantage of this by converting historic commercial spaces into loft apartments around the edges of the Business Improvement District for their family homes.
The Dickies and Iron Works buildings are successful projects in which warehouse space was renovated into incredible residential units.
Office buildings have been transformed into mixed-use properties. Electric 308 and the Plaza Building are examples of mixed-use projects with the top floors converted into one and two bedroom luxury apartments.
More recently, new loft apartments have been put on the market. More than 160 apartments have been recently completed or are underway in the Standard Life, King Edward, Tombigbee Lofts and other local projects.
Residential amenities are plentiful in Downtown Jackson. Downtown has an abundance of convenient parking. Smith Park and other public spaces are ideally situated for recreational use. Four museums and seven churches are located in the area.
Based on current market conditions and surveys of comparable cities, Downtown could have a pent-up demand for over 2,000 new residential units. An abundance of development sites exist in and around the downtown area. Anchored by a strong daytime population and surrounded by colleges as well as historic neighborhoods, Downtown Jackson is poised to capitalize on this growth opportunity.
Target Markets
Employees
- Over 29,000-Downtown
- Over 14,000-Medical District
Students
- 19,500-Hinds Community College
- 8,000-Jackson State University
- 4,887-Mississippi College
- 3,000-Holmes Community College
- 2,951-Belhaven College
- 2,413-University of Mississippi Medical Center
- 1,117-Millsaps College
- 933-Tougaloo College
- 543-MC School of Law
- 40-MSU College of Architecture
Greater Jackson Population by Age
- Total: 568,163
- Less than 14: 21.4%
- 15 – 24: 15.2%
- 25 – 34: 14.0%
- 35 – 44: 14.0%
- 45 – 54: 14.2%
- 55 & over: 21.2%
Source: Greater Jackson Alliance
| Metro-Jackson | Multifamily Market |
|---|---|
| Approximate Market Size | 19,980 units |
| Occupancy Rate | 90.6% |
| Pre-1980s Construction Rent | $568 |
| 1980s Construction Rent | $679 |
| 1990s Construction Rent | $793 |
| New Construction Rent | $921 |
| Average Unit Size in Sq. Feet | 946 |
Source: CB Richard Ellis Year End 2009
Residential Listings
| Listing | Address | No. of Units | Phone Number | |
|---|---|---|---|---|
| 1 | 721 North State (Download information) | 721 N. State Street | 601-949-9999 | |
| 2 | 729 High Street | 729 High Street | 4 | 601-353-0800 |
| 3 | 736 South President Building (Dickies Building) | 736 S. President St. | 13 | 601-720-7655 |
| 4 | Electric 308 | 308 E. Pearl Street | 15 | 601-914-0800 |
| 5 | Foundry Lofts in South Downtown | 300 W. South St. | 13 | 601-352-3722 |
| 6 | King Edward Apartments | 235 W. Capitol Street | 64 | 601-979-2233 |
| 10 | Nejam Properties in Belhaven Heights | 904 Morningside Street | 601-355-0100 | |
| 7 | Plaza Building | 120 N. Congress Street | 14 | 601-362-8440 |
| 8 | Sterling Towers in the Farish Street Historic District | 170 E. Griffith St. | 105 | 601-353-4210 |
| 9 | Tombigbee Lofts | 555 Tombigbee Street | 12 | 601-362-8440 |