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- Market Review
Metro population:
1.5 m
Median Home Income:
47,000 dollars
Unemployment rate:
3.4%
Median House Price:
141,000 dollars
Median monthly rent:
1,150 dollars
Located on the east coast of Florida, Jacksonville overlooks the two banks of the St. Jones River - the longest river in Florida and also one of the only two rivers in North America that flows north instead of south.
In the last ten years the Jacksonville Metro area has grown by a whopping 20%. Currently, there are 1.3 million people living in this area and more keep coming every year. In fact, the Jacksonville population is steadily growing at a rate of 2% per year and its labor force is doubling from the national average.
There are many factors that explain this growth. First, Jacksonville is the only city in Florida with four Fortune 500 companies. The area also has a world-class health care system, with more than 20 hospitals and a growing biological scientific community. In addition, 13 of Forbes Global 500 work in Jacksonville.
With below-average living costs, a wonderful climate and a business-friendly environment, we believe Jacksonville is one of the best real estate markets in the country.
More to love about Jacksonville:
- The population of Jacksonville has grown by 24.1% in the population since 2000, which is higher than 16.4% of Miami and 19.8% of Tampa.
- Future job growth in Jacksonville is expected to be 39.21% over the next ten years.
- The expansion of the Panama Canal is helping to bring jobs to the ports of the Jacksonville area, which could lead to further population growth.
- The Jacksonville Metro also has a world-class healthcare system with more than 20 hospitals and a growing bioscientific community.
Why invest here?
Jacksonville offers great opportunities for investors today, especially those looking for a worthwhile investment, a strong cash flow opportunity and long-term economic stability. grant : Although Florida is known as a hurricane hotspot, Jacksonville has only been hit directly by a hurricane once in the last 145 years.
- Trends
Overview
Trends and Statistics of Jacksonville 2018-2019
In this section you will learn about the key factors that make Jacksonville one of the most powerful real estate markets in 2017, including: reasonableness, rental income and cash flow and equity growth potential. Check out Jacksonville's housing, population and employment trends in the tabs to learn more.
Sources of information :
- https://www.zillow.com/jacksonville-metro-fl_r394714/home-values/
- Real Affiliate Data of a Real Wealth Network
- https://factfinder.census.gov/
- https://www.deptofnumbers.com/employment/florida/jacksonville/
Housing market trends
Jacksonville real estate prices are cheaper than in many other US cities today.
- In January 2018 the median price of 3-bedroom homes in Jacksonville was $ 171,000. This is 15% lower than the $ 202,000 national average.
- In neighborhoods where RWN members invest, the median price of 3-bedroom homes in Jacksonville was $ 141,000 in January 2018. This is 30% lower than the $ 202,000 national average.
- This shows us that property values in Jacksonville are cheaper than many other cities in the US today. This is especially true in neighborhoods where RWN members invest.
In some Jacksonville neighborhoods a strong monthly income can be generated.
- In January 2018 the median monthly rental of 3 bedrooms in Jacksonville was $ 1,200, which is 0.72% of the median purchase price of $ 171,000. This is slightly higher than the national purchase and rent ratio of 0.71%.
In neighborhoods where RWN members invest the median monthly rent for 3-bedroom homes was $ 1,150 in January, which is 0.82% of the $ 141,000 purchase price. - This shows us that the Jacksonville Metro area offers investors the opportunity to generate more rental income from many cities in the U.S. today, especially in areas where RWN members invest.
- Bonus: In addition to affordable apartment prices and high monthly rents, Jacksonville also has no state income tax and one of the lowest property tax rates in the state. This is another great indication that JAX offers a strong cash flow opportunity.
For the past six years, Jacksonville's home values have been valued at a slightly faster rate than other cities across the state.
- In January 2012 the median price of 3-bedroom homes in Jacksonville was $ 108,000. This means that in the last six years (January 2012 to January 2018), 3-bedroom homes in Jacksonville have been rated 42%. This is slightly higher than the 41% estimate for homes with 3 bedrooms nationwide.
In the last six years, the median monthly rent for three-bedroom homes has risen less than the national average.
- In January 2018 the median price of 3-bedroom homes in Jacksonville was $ 171,000. This is 15% lower than the $ 202,000 national average.
- In neighborhoods where RWN members invest, the median price of 3-bedroom homes in Jacksonville was $ 141,000 in January 2018. This is 30% lower than the $ 202,000 national average.
- This shows us that property values in Jacksonville are cheaper than many other cities in the US today. This is especially true in neighborhoods where RWN members invest.
Trends in the population
The Jacksonville population is growing significantly faster than the national average.
- Between January 2010 and 2017, the Jacksonville population grew by just under 12%. This is a rapid population growth of 118% of the national average.
- This shows us that housing demand is set to continue to rise in Jacksonville. More people = more tenants and more buyers. More tenants and more buyers = higher rents and apartment values.
employment
Jacksonville produces jobs at a faster rate than other cities in the United States today.
- In the past year Jacksonville has created nearly 22,000 jobs - an annual growth rate of over 3.0%. This is 82% higher than the US annual growth rate of 1.73%.
- This shows us that JAX is experiencing faster job growth compared to most cities in the US today. This trend is likely to continue as individuals and businesses continue to move to the area because of sunlight, open spaces and its low taxes throughout the year (zero income tax and a flat corporate tax rate of only 5.5%).
Conclusions
Jacksonville pays off
- In neighborhoods where RWN members invest, the median price of 3-bedroom homes in Jacksonville was $ 141,000 in January 2018. This is 30% lower than the $ 202,000 national average.
- This shows us that property values in Jacksonville are cheaper than many other cities in the US today. This is especially true in neighborhoods where RWN members invest.
JAX is great for cash flow
- In neighborhoods where RWN members invest the median monthly rent for 3-bedroom homes was $ 1,150 in January, which is 0.82% of the $ 141,000 purchase price.
This shows us that the Jacksonville Metro area offers investors the opportunity to generate more rental income from many cities in the U.S. today, especially in areas where RWN members invest.
- Jacksonville also has lower taxes than most of the state - zero income tax and a flat 5.5% corporate tax rate - which are positive factors in creating a strong cash flow opportunity.
Jacksonville is growing rapidly
- Between January 2010 and 2017, the Jacksonville population grew by just under 12%. This is a rapid population growth of 118% of the national average.
- This shows us that housing demand is set to continue to rise in Jacksonville. More people = more tenants and more buyers. More tenants and more buyers = higher rents and apartment values.
- In the past year Jacksonville has created nearly 22,000 jobs - an annual growth rate of over 3.0%. This is 82% higher than the US annual growth rate of 1.73%.
- This shows us that JAX is experiencing faster job growth compared to most cities in the US today. This trend is likely to continue as individuals and businesses continue to move to the area because of sunlight, open spaces and its low taxes throughout the year (zero income tax and a flat corporate tax rate of only 5.5%).
Capital growth in Jacksonville is expected
- In January 2012 the median price of 3-bedroom homes in Jacksonville was $ 108,000. This means that in the last six years (January 2012 to January 2018), 3-bedroom homes in Jacksonville have been rated 42%. This is slightly higher than the 41% estimate for homes with 3 bedrooms nationwide.
Between January 2012 and January 2018 the average rent for 3-bedroom homes in Jacksonville rose by 15%. This is a slightly lower increase than the national average of 17% during this period.
All of this shows us that Jacksonville is still cheap for buyers and renters, but it probably won’t stay that cheap for long. If the population continues to grow rapidly - which seems reasonable - it is only a matter of time before demand exceeds supply, and increases the value of apartments and rents.
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Known primarily for its annual balloon fiesta and as part of AMC's performance show "Breaking Bad," Albuquerque, New Mexico, is a metropolitan area rich in culture and naturally beautiful. Albuquerque is also one of the largest cities in the southwest of the city, with a diverse population and some of the leading high-tech research enterprises in the country, including National Sandia Laboratories, Intel and the University of New Mexico. At the same time, its cultural traditions continue to be an integral part of daily life in the city. With one foot in the past, one foot in the present and two eyes for the future, Albuquerque is a fascinating place to visit and an even better place to call home. (Source: (https://www.visitalbuquerque.org/about-abq/history/)
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Lior Lustig
Lior Lustig CEO - Overseas Investors Forum
- support@forumnadlanusa.com
- 072 - 257-7374
- (978) 600-8229
Lior Lustig is an experienced real estate investor who has been active in the field in Israel and the United States since 2007. Lior has extensive experience in purchasing and managing single and multi-family properties.
Lior currently manages the Real Estate Investors Forum, which owns a brand and interest in the real estate field, the Facebook group and the "Real Estate Forum in the United States" website. Lior is versatile in a wide variety of investment markets in the United States and provides solutions to investors through the company.