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The Latest Update on the Jacksonville, FL Real Estate Market

System - Tuesday, August 16, 2022
Property Management Blog

Five years ago, Jacksonville, Florida was the 2nd highest-rated up-and-coming city in the United States.

Did the Jacksonville FL real estate market end up proving this statement true or false? Let’s look at what’s going on in Jacksonville today, so we can understand why this city is an amazing investment opportunity.

Jacksonville, FL

The city of Jacksonville, FL sits in the north of Florida. It has a current population of around 900,000. That number is increasing and will continue to grow as more opportunities move into the area in the form of a robust job market.

Jacksonville represents a different environment and investment ecosystem than central or southern Florida.

Property Values in Jacksonville, FL

The value of Jacksonville real estate continues to increase. The last year saw a massive increase in property values, with the average increasing by 30%. There is no sign of this trend slowing down as demand for properties in Jacksonville continues to rise.

Real estate investments in Jacksonville, FL will continue to outperform the stock market. The market has several other factors causing it to demonstrate repeated strength. For now, the value of properties is still lower than in other cities, but this will not be the case for long.

Market Strength

Several key events have strengthened the real estate market in Jacksonville. One of them is an increase in jobs, with fortune 500 companies moving into the area. Another is the friendliness of tax laws in Florida, with low property tax and no income tax.

As the value of properties in Jacksonville has gone up, the number of properties for sale on the market has decreased. This protects each property's value, making it the right time to begin investing in real estate in this booming metropolis.

In more good news for the Jacksonville market, the southern Florida real estate market has slowed by over 20%. With a growing demand for housing, the Jacksonville FL real estate market will remain in a peak position for investment.

Jacksonville FL Real Estate Market

The market is considered a seller's market. This is due to the fact that in 2022 there are far more people wanting to move to Jacksonville than available units for rent or sale. Becoming a real estate investor in Jacksonville is an almost guaranteed financial success.

The average rent in the city hovers around $1,400 a month, making it attractive to people from more expensive cities. This, combined with a booming job market, has combined for a perfect storm in Jacksonville, just waiting to be taken advantage of.

Your Investment in Jacksonville FL

Like any great opportunity, the Jacksonville FL real estate market is ripe for investment. The more that you can invest in the city, the better off you will be in the coming years. The longer you wait to make an investment, the more it will cost and the less return you will receive.

Don’t let other investors get ahead of you, make Jacksonville FL a key part of your portfolio today. The Home River Group is here to help with property management services and strong local knowledge. You can’t afford to wait, and we can help you make the most of each investment.

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