Jacksonville real estate investing is a great opportunity for those looking to buy rental property in one of the fastest growing metro areas in America with a strong renter pool (44% of people in JAX rent). Jacksonville has a diverse economy with a large deep-water port, which makes it a transportation and distribution hub for the southeast. It’s also the home of three Navy bases, which makes for a stable pool of high quality tenants. In addition, it has large healthcare and financial services industries.
In addition to exceptional growth, some of the biggest benefits of investing in Jacksonville, and in Florida in general, is that there is no state income tax, it’s highly landlord friendly, it’s a tax haven for companies and it’s one the most moved to states in the nation, especially among baby boomers.
One thing to note is about hurricanes: While Jacksonville rarely gets hit by one, it is always a possibility in coastal Florida. As such, it’s important for Jacksonville real estate investors to look at insurance expenses when analyzing the proforma on a potential deal. Also, if you believe that the economy might be headed toward recession, you should be conservative when considering short-term rentals. The first thing consumers cut back on during recessions is discretionary spending (like spending $250 per night on a beach cottage). As the price points of short term rentals is high, you’d have to be comfortable taking on a large, fixed expense right before a recession.
Note that the property team RealWealth members work with in Jacksonville also offers properties in Palm Coast, St. Augustine, Ocala, and Southwest Florida.
Jacksonville Real Estate Investment Opportunity Quick Facts
This information reflects typical properties purchased by RealWealth members in Jacksonville. These numbers are estimates, and the actual property prices and rents will vary based on current inventory.
- Investment Objective: Lower cash flow, higher appreciation
- Types of properties for sale: New Construction SFRs in A and B Neighborhoods on Infill locations, Short-Term Rentals (STRs), New Construction MFR (2-4 units)
- Average home price: $250,000+ (SFR), $450k+ (MFR), $500,000-$1,000,000 (STR)
- Average monthly rents: $1,500 – $1,800 per unit (SFR + MFR), $4,000 – $8,000 (STR)
Is Jacksonville a good real estate investment?
There are a variety of factors that make Jacksonville a good real estate investment today.
- Affordability: Jacksonville is still relatively affordable with an average home price of just under $360,000 which is just about the same as the national average. As seen above, it’s possible to find better deals if you know where to look.
- Significant Appreciation: Jacksonville homes have appreciated 114% since 2014, which is 23% faster than the national average.
- Rapid Population Growth: Jacksonville’s population is booming! Between the 2010 and 2023 censuses, the population in JAX grew by 27%, which is 227% faster than the national average.
- Considerable Job Growth: In 2023, the number of jobs in Jacksonville grew by 2.75%. This is 123% faster than the national average.
Rental Properties for Sale in Jacksonville and surrounding areas
The turnkey rental property team we refer to in Jacksonville sells single-family homes, multi-family homes and short-term rentals. They sell in Jacksonville proper and throughout Central Florida, including Palm Coast, Port Charlotte and Ocala. View pro formas and connect with the property team below.
