Why Jacksonville?

Experts agree, there are 5 Key Performance Indicators when it comes to evaluating a location for real estate investing:

Desirability
When considering a market for the purposes of real estate investing, desirability is certainly one of the most important factors. Jacksonville is a great place to live life to the fullest. The city has a wide variety of distinct residential neighborhoods, with housing options to suit any style. Whether it be a luxury condo high-rise downtown, a historic home or custom newly built homes in every style imaginable, there is a place for everyone to feel at home. Expansion Magazine has rated Jacksonville as one of America’s “Best Places to Live and Work”. The city is home to the southeast’s largest modern and contemporary art museum, endless miles of beautiful beaches and the largest urban park system in the United States.

Economic Growth
Business 2.0 ranked Jacksonville in the “Top 10 Hottest Cities” that will lead job growth through 2015. With population growth exceeding two percent per year, our workforce is expanding at twice the national average. With more than 20 hospitals and a growing bioscience community, Northeast Florida’s world-class health care system and related industries are the lifeline of the region. Five of the top 10 private companies provide or are affiliated with health care, including one of only three Mayo Clinics in the nation and the largest private employer — Baptist Health. The life sciences sector is one of four in a recent study produced by the Jacksonville Community Council Inc. projected to see continued growth, and it is considered an immediate opportunity for substantial job creation. Pursuing the recommendations in the study would result in 30,000 new jobs. Announcements and expansions in the past year are evidence of this continued growth. Medtronic Inc., PSS World Medical Inc. and Vistakon’s company headquarters are located in Jacksonville and attract some of the most highly skilled professionals in the nation and even worldwide.

Population Growth
Population growth in the Jacksonville region exceeds two percent per year, providing a workforce that is expanding at twice the national average. The median age in Jacksonville is 37, providing a young and dynamic workforce equal in age to the national average and three years lower than the Florida average. Fifty percent of the population growth is coming from people moving here to take advantage of employment opportunities. With a young workforce, wonderful climate and business-friendly environment, the greater Jacksonville region has enjoyed tremendous growth and prosperity over the past decade. The multiple military installations provide employment to more than 50,000 active duty, reserve and civilian men and women. Of the personnel who exit the military each year, more than 3,000 choose to remain in the region, providing a steady stream of skilled workers for area businesses.

Affordability
With a cost of living that is below the national average, Northeast Florida’s population has been growing twice as fast as the rest of the nation. That’s why our region is one of the few places in the United States that is experiencing a growing population of young professionals. Where else can you find a coastal city with single family homes available for less than $100,000? It simply does not exist. Considering the growing local job market for ‘working class’ labor, it will not likely last very long either. The pricing in Jacksonville, for savvy investors, is well below the replacement cost of a similar home. This, in itself, is a huge advantage. Entry level homes in the Jacksonville market are priced significantly lower than in any other city in the state of FL, making it an attractive place to be for first time home owners. It may very well be the least expensive entry market of any major city on the entire east coast.

Supply and Demand
In any marketplace, supply and demand are critical components. The housing market in Jacksonville did not experience extensive over-building, as was the case in many other parts of Florida. At this stage, new construction – particularly in the entry level market – has nearly come to a complete halt. Builders are certainly not focusing on producing new single family homes under $200,000, as it is simply not profitable. The result is that the housing supply, in this segment of the market, is, for now, somewhat fixed. With the population growth occurring, due to the influx of jobs, the entry level housing is now and will continue to be in very high demand.

Discover Jacksonville Real Estate – Duval County
Discover Jacksonville Real Estate – Northeast Florida

Explore the links below to learn more about Jacksonville and the surrounding areas:

Jacksonville
City of Jacksonville
Jacksonville Chamber of Commerce
Northeast Florida Development
The Florida Times-Union
Traffic Report
Visit Jacksonville
Regional Economic Development