Last Updated: | Author: Benjamin Smith | Topic:
Date: April 14, 2017
In the past 5 years, the number of people living in the Jacksonville metro has increased by 7.72%. To date there are almost 1.5 million people living in this area, and more continue to come every year.
In addition to population growth, there are many reasons Jacksonville is one of today’s best real estate markets, including:
Affordability: In January 2017 the median price of 3 bedroom homes in Jacksonville was $154,000. This is 21.43% lower than the national average of $187,000.
Job Growth: In the past year Jacksonville has added almost 20,000 new jobs to their economy – an annual growth rate of 3.02%.
Steady Cash Flow: In January 2017 the median monthly rent 3 bedroom homes in Jacksonville was $1,205, which is 0.78% of the median purchase price of $154,000. This is slightly higher than the national purchase-to-rent ratio of 0.74%.
High Equity Growth Opportunity: In January 2012 median price of 3 bedroom homes in Jacksonville was $111,000. This means that, in the last 6 years, 3 bedroom homes in Jacksonville have appreciated by 38.74%. During the same period, 3 bedroom homes increased only 28.97% nationwide.
Jacksonville also has a cost of living below the national average, a wonderful climate, and business-friendly environment, which is why we believe it’s one of the best real estate markets in the country today.
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