AREA
INFO
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
highrise 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
Stability and future growth of the local economy
play a key role in the fundementals of real estate
investing for any market. In a 2007 study which
analyzed job growth, Inc. magazine ranked Jacksonville,
FL as the #12 Boomtown in the nation. Several
major companies have recently decided to make
Jacksonville their home - including Korean shipping
companies Hanjin and Matsui. Each of these two
companies will be opening terminals in JAXPORT.
The projects are scheduled to bring thousands
of new jobs to the area and will make Jacksonville
one of the largest and most successful port cities
on the eastern seaboard. In order to accomodate
the growing business and economy in Jacksonville,
an expansion project for the Jacksonville airport
began in 2006. This project will result in two
new concourses, which are slated to open by the
Spring of 2009.
 Population
Growth
The population in Jacksonville, FL has been growing
at a very rapid pace for several years and is
projected to continue strong growth in upcoming
years. According to census, an average of 75 families
are moving into the city of Jacksonville every
day! As of the 2006, Jacksonville is the third
most populated city on the east coast, after New
York City and Philadelphia. With a median age
of 36, Jacksonville's population is significantly
younger than other major Florida cities. 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.
 Affordability
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
& 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 FL. 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.
AREA INFO
Click on 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
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