Would you like to learn more about the Jacksonville real estate market?
Jacksonville is a great place to invest in real estate. The investment opportunities are solid due to steady growth, a strong economy, and a great job market. Your rental property investment has the potential to deliver significant returns over the years.
Due diligence is an essential aspect of every investment decision: You need to understand the local market realities in order to plan your finances. When it comes to Jacksonville investments, we’ll help you gain important insights and market info.
In this article, we here at Gifford Property Management will cover all the major reasons why you should consider investing in Jacksonville real estate. You’ll learn about the local investment opportunities in its diverse neighborhoods.
1: Hot Real Estate Market
The real estate market in Jacksonville is on fire. The reason is a combination of a increased demand and decreased inventory. Absolutely nothing signals that the trend would reverse in the coming years.
The appreciation of Jacksonville homes has been steady. The annual growth of home values has been hovering around 7-8% in recent times. The median price for home listings has reached $220,000 and it’s set to increase in the future.
2: Strong Employment Opportunities
Did you know that Jacksonville’s GDP has grown almost 50% in the past decade? The job market demonstrates strong growth in certain sectors, including government, manufacturing, and finance.
In fact, Jacksonville hosts one of the largest advanced manufacturing industries in the Sunshine State. The area has even been called the logistics center of the U.S. The business expansion in Jacksonville shows no sign of stopping.
Quite a few Fortune 500 companies call Jacksonville their home. Southeastern Grocers, Fidelity National Finance, and CSX Corporation have their headquarters in this city.
Jacksonville residents have an opportunity to seek employment with numerous major companies: JPMorgan Chase, Miller Electric Company, and BofA Securities. Plus, there are much smaller, yet outstanding companies in the health care and IT sectors.
3: Promising Rental Market
The average rent amount has increased in Jacksonville over the years. Around half of the rental units in the city rent for $1,001 to $1,500 a month. The neighborhoods of Greenland, Mixon Town, and Del Rio command the highest rents.
When you look at the surge in job opportunities and population numbers, it’s clear that the Jacksonville area can deliver good results for property investments. The regular cash flow and long-term equity growth provide great opportunities for investors.
4: Accolades for Jacksonville Real Estate Market
The “Emerging Trends in Real Estate 2020 Report” by PwC has ranked Jacksonville as the 12th best market for home building in the U.S. Furthermore, Greater Jacksonville is on the list of top Metro Areas in America.
According to RealWealth Network, Jacksonville is one of the best places in the States for buying a rental property. They highlighted an expanding market, decent cash flow, and excellent appreciation.
5: Wide Selection of Sights & Activities
The City of Jacksonville and its surroundings offer a plethora of sights and activities across all interests. This is especially important in the context of picking a holiday rental strategy. Here are some ideas for short-term holiday rental marketing:
• Spend a day on the wild beach of Kathryn Abbey Hanna Park.
• Visit the beautiful Cummer Museum of Art and Gardens.
• Meet awe-inspiring animals at Jacksonville Zoo & Gardens.
• Get your geek on by visiting the Museum of Science and History.
• Shop ‘til you drop: St Johns Town Center is a top-class place for retail therapy.
• Grab your hiking gear and head out to Little Talbot Island State Park.
6: Unique Neighborhoods with Plenty of Appeal
The list of Jacksonville neighborhoods features many areas that are ripe for potentially high-ROI real estate investments. Now we are going to pick a few prime locations that you may consider as your starting point.
Historically two distinct communities, Riverside and Avondale have melted into a contiguous neighborhood. This location is one of the trendiest areas in Jacksonville. The higher housing prices are rationalized by the top entertainment and dining options in the area.
Investors aiming for a gated community investment should look into Deercreek. The neighborhood has single-family residences. These homes have been constructed from the 1970s up until the late-1990s. The highly-rated school district and a surplus of amenities make it a desirable area for families with children.
The downtown area of Jacksonville is in the center of everything that’s happening. The residents of Downtown Jacksonville seek first-rate dining, nightlife, and entertainment options. It’s a popular area among young professionals as Fortune 500 companies like CSX and FIS are located in the same spot.
Maybe you are looking for relatively affordable real estate? Consider Murray Hill, as this community has lower prices than many other Jacksonville neighborhoods. Just keep in mind that most of the homes are smaller than average. Even though Murray Hill has a good location, it has affordable real estate.
A prime location for families with children, this ocean neighborhood has all the essentials you need in the town center. Living in this area allows families to gain access to great schools in Duval and St. Johns Counties. Plus, the Nocatee Spray Park and Splash Water Park provide never-ending fun for the whole family.
The Bottom Line: Jacksonville Real Estate Investments
Jacksonville offers a superb quality of life for its residents. Living in Jacksonville allows you to reap the benefits of a nice and warm climate. Outdoor activities are highly-regarded in this part of Florida.
That’s why it makes sense to invest in Jacksonville real estate. The family-friendly cityscape together with economic growth and job prospects creates the potential for solid returns on your investment.