 Rankin builds lead in housing
Analysis shows mortgage growth
Published Feb. 22, 2005.
Reprinted with permission of the Rankin Ledger
By Joshua Cogswell
jcogswell@rankinledger.com
When Jason Leclear's company transferred him from Fargo, N.D., to Jackson last spring, he looked all over the metro area for the right house.
In the end, Leclear and his wife chose a home right on the Reservoir in Rankin County.
 "I'm really excited about all the development around Dogwood and near Spillway and Old Fannin," Leclear said. "Mainly I knew I wanted to be near the water."
Leclear, general manager for Nextel, is part of the reason Rankin County has outpaced Hinds and Madison counties in the growth of home sales since 2001.
The number of home-purchase mortgage loans in Rankin County grew by 30 percent from 2002 to 2003, the last year for which figures are available. By comparison, Madison County saw a 15.4 percent rise and Hinds had a 16 percent increase during the same period, according to data compiled by a Canton research firm.
"I think Rankin County has a lot of potential to continue to grow," said Brandon Roberts of Premier Insights Inc. "I wasn't at all surprised to see that it was growing faster than Madison."
Community leaders say the growth has been spurred by a quality school system, a wide variety of price options and an influx of retail.
Home construction is also up more than 20 percent in the county during the same period, according to data from the U.S. Census Bureau. More than 1,200 building permits for single-family homes were issued in Rankin County in 2003, compared with about 960 in 2001.
Almost 800 permits were issued for homes in unincorporated Rankin County. Of the county's municipalities, Brandon is highest on the list with 235 permits issued in 2003.
Brandon Mayor Roe Grubbs said the city's quality of life makes it attractive to new homeowners.
He said a recently approved $5 million bond for improvements to the city's police department and parks and recreation facilities will ensure that the city will continue to grow.
"When people see that we have a new senior center, new playgrounds and a new tennis center on the way, they see that we have a certain quality of life," Grubbs said. "And we were able to pay for all of it without raising taxes because of all the growth that we have had."
Becky Tann, a real-estate broker in Jackson who lives in Rankin County, said the quality of the county's schools is the biggest factor driving Rankin County home sales.
She added that flourishing retail development, convenience to hospitals and affordable homes also help her sell homes in the county.
"You get a lot of bang for your buck in Rankin County," Tann said.
Gale Martin, executive director of the Rankin County Chamber of Commerce, said the growth in home purchases has brought business to the county.
"To drive retail, you've got to have people," Martin said.
Martin said Rankin County has a wide selection of homes that helps attract a wide pool of home buyers.
"There are so many different levels of homes available from starter homes up to high income," Martin said. "We have more options for the average family."
According to Premier Insights, the average home loan in Rankin County in 2003 was $115,700, while Madison County's average home loan was $156,460.
Those options are what has helped Florence attract more homeowners, Mayor Eddie Jones said.
Five or six new developments are under construction in Florence, Jones said.
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