With the huge slowdown in the Jacksonville real estate market, there's a lot of opportunity for investors.
If you're looking for the perfect place to start investing in property, Jacksonville ticks all of the boxes. There's certainly a growing real estate market, with home prices rising around 20% in the last year. That said, you can still buy low and build for the future.
In this post, we're going to tell you some of the benefits of investing in Jacksonville property. Whether you're looking to flip a house or rent it out, keep reading and you'll see that Jacksonville is ripe with opportunity.
1. Growing City
Jacksonville is one of the fastest-growing cities in the country. The population is growing at a rate of about 1.3% every year, which might not sound like a lot, but it points to a stable economy and healthy real estate market.
It's also the largest US city by landmass, so there are plenty of investment opportunities across the greater Jacksonville area. There's a lot to attract renters, buyers, and tourists, so you'll have immediate opportunities to diversify your property investments as you see fit.
2. Still Affordable
What's great about investing in real estate in Jacksonville is that it's still relatively affordable. The average price of a single-family home sits at just under $300,000, which is far less than Florida's average, as well as the national average.
The perk here is that Jacksonville homes have been steadily increasing in price over the last few years. An investment right now could yield huge returns should you decide to sell in a few years.
3. Tax Breaks
As you may or may not know, Florida doesn't have an individual income tax. If you're thinking of starting a solo investment endeavor, partnership, or LLC in the sunshine state, you're going to be handsomely rewarded.
21 of the 427 Florida Opportunity Zones are in Jacksonville, so there are even more tax incentives to take advantage of for Jacksonville investors.
4. Great Property Management
Whether you're using your property investments as vacation rentals or full-time rentals, you'll have access to some of the best property management in the country. At Home River Group, we're the top nationwide full-service property management company.
For landlords, we can take care of everything from property maintenance to marketing vacancies and dealing with tenants. You'll be able to sit back, collect returns on your investments, and focus on growing your investment portfolio.
5. Increasing Rent Prices
With more and more people moving to Jacksonville, the rental market is also growing quickly. Close to 44% of Jacksonville residents are renters, so you'll have access to a huge pool of potential tenants.
Average monthly rent prices have been steadily going up, so your investments will pay dividends fairly quickly.
Get Your Jacksonville Property ASAP
These are just a few of the biggest benefits of investing in Jacksonville property in 2022. If you're looking for quality investment opportunities, Jacksonville is where you'll find them, so find a good realtor and start your search ASAP.
Once you've got your property secured, you'll need a great property manager to maximize it. Contact us and we'll tell you everything you need to know about our industry-leading property management services.