Jacksonville, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Jacksonville, FL Real Estate Data


Jacksonville Housing Market Information

With 868,031 people, 315,619 houses or apartments, and a median cost of homes of $190,161, Jacksonville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Jacksonville, accounting for 60.93% of the city's housing units. Other types of housing that are prevalent in Jacksonville include large apartment complexes or high rise apartments ( 23.92%), duplexes, homes converted to apartments or other small apartment buildings ( 5.54%), and a few mobile homes or trailers ( 4.82%).

The most prevalent building size and type in Jacksonville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.91% owning and 41.09% renting.

There is a lot of housing in Jacksonville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Jacksonville built between 1940-1969 ( 28.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.85%). There's also some housing in Jacksonville built before 1939 ( 5.18%).

Vacant housing appears to be an issue in Jacksonville. Fully 14.54% of the housing stock is classified as vacant. Left unchecked, vacant Jacksonville homes and apartments can be a drag on the real estate market, holding Jacksonville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Jacksonville Home Appreciation Rates

Jacksonville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Jacksonville during the period has been just -2.00%, which is lower than 80% of US communities.

Appreciation rates are so strong in Jacksonville that despite a nationwide downturn in the housing market, Jacksonville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Jacksonville appreciation rates continue to be some of the highest in America, at 10.01%, which is higher than appreciation rates in 97.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Jacksonville. Jacksonville appreciation rates in the latest quarter were at 5.32%, which equates to an annual appreciation rate of 23.03%.

Importantly, NeighborhoodScout’s exclusive research found that Jacksonville's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Florida, our data show that Jacksonville's latest annual appreciation rate is higher than 60% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Jacksonville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Jacksonville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Jacksonville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$190,161

Jacksonville, FL HOME PRICES

Value Range
> $1,258,000 0.8
$944,001 - $1,258,000 0.6
$629,001 - $944,000 1.8
$503,001 - $629,000 2.2
$377,001 - $503,000 4.5
$252,001 - $377,000 14.6
$126,001 - $252,000 40.6
$63,001 - $126,000 25.1
$0 - $63,000 9.8

Average for FL
High for Nation

Value Relative to Nation Value Relative to State
35.6795690109504 51.7094017094017

Number Of Homes And Apartments:
315,619

Rent & Ownership

 

Average Market Rent:
$1,269 / per month

Homeownership Rate

Homeownership
Owners 58.91
Renters 41.09
Vacant 14.54

Housing Market Details

 

Age of Homes

AGE OF Jacksonville HOMES
2000 or Newer 21.9
1970 - 1999 44.7
1940 - 1969 28.2
1939 or Older 5.2

Types of Homes

TYPE OF Jacksonville HOMES
Single-Family 60.9
Townhomes 4.8
Small Apt. Buildings 5.5
Apt. Complexes 23.9
Mobile Homes 4.8
Other 0.0

Home Size

SIZE OF Jacksonville HOMES
No Bedroom 1.36
1 Bedroom 10.81
2 Bedrooms 24.69
3 Bedrooms 45.35
4 Bedrooms 15.42
5 or more bedrooms 2.37

Jacksonville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
47.02% 2.29% 2 6
* 10 is highest