Federal Housing Finance Agency Home Price Index (FHFA HPI):
Jackson, TN is a Federal Housing Finance Agency home price index that comprises counties including Crockett County, and Chester County. Its most recent index value is 205.58.
The Jackson, TN, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index measuring average price changes in repeat sales or refinancings on the same properties. The Jackson HPI covers the metropolitan statistical area (MSA) which includes Madison, Chester, Henderson, and Decatur Counties in Tennessee.
Between 2000 and 2006, home prices in the Jackson MSA increased by almost 60 percent. However, since peaking in early 2007, prices have fallen by more than 30 percent. As of the first quarter of 2011, prices were still down more than 25 percent from their peak.
Despite these large swings in home prices, the rate of homeownership in the Jackson MSA has remained relatively stable over the past decade. In 2000, 64 percent of households owned their homes; by 2010 that figure had risen slightly to 67 percent.
The reason for this stability is that many homeowners have been able to stay in their homes thanks to low interest rates and government programs like the Home Affordable Refinance Program (HARP). However, as interest rates begin to rise and home values continue to fall, it is likely that we will see a decrease in the rate of homeownership in the coming years.
Price Index: Jackson, TN
Name | State | Metromicro | Fips State Code | Fips County Code | Region Type | Population |
---|---|---|---|---|---|---|
Madison County | Tennessee | Metropolitan | 47 | 113 | Central | 96,578 |
Chester County | Tennessee | Metropolitan | 47 | 023 | Outlying | 15,066 |
Crockett County | Tennessee | Metropolitan | 47 | 033 | Outlying | 14,830 |
Name | State | Population |
---|---|---|
Jackson | Tennessee | 85,748 |
Henderson | Tennessee | 12,510 |
Bells | Tennessee | 5,411 |
Alamo | Tennessee | 4,662 |
Beech Bluff | Tennessee | 3,182 |
Medon | Tennessee | 2,728 |
Friendship | Tennessee | 2,659 |
Pinson | Tennessee | 1,955 |
Gadsden | Tennessee | 1,488 |
Oakfield | Tennessee | 1,363 |
Zipcode | Population | Density | Timezone | Latitude | Longitude | City | County | State |
---|---|---|---|---|---|---|---|---|
38347 | 586 | 55.8 | America/Chicago | 35.47776 | -88.49862 | Jacks Creek | Chester County | Tennessee |
38352 | 644 | 13 | America/Chicago | 35.53163 | -88.53216 | Luray | Chester County | Tennessee |
38332 | 1,326 | 9.5 | America/Chicago | 35.41911 | -88.42645 | Enville | Chester County | Tennessee |
38340 | 12,510 | 27.2 | America/Chicago | 35.39985 | -88.68049 | Henderson | Chester County | Tennessee |
38021 | 15 | 11 | America/Chicago | 35.87583 | -89.16472 | Crockett Mills | Crockett County | Tennessee |
38050 | 595 | 116.4 | America/Chicago | 35.82956 | -89.23304 | Maury City | Crockett County | Tennessee |
38337 | 1,488 | 21.2 | America/Chicago | 35.78532 | -89.01404 | Gadsden | Crockett County | Tennessee |
38034 | 2,659 | 10.2 | America/Chicago | 35.90976 | -89.23443 | Friendship | Crockett County | Tennessee |
38001 | 4,662 | 26.6 | America/Chicago | 35.81094 | -89.15658 | Alamo | Crockett County | Tennessee |
38006 | 5,411 | 20.7 | America/Chicago | 35.69490 | -89.09725 | Bells | Crockett County | Tennessee |