Jacksonville Investment Property for Sale - 2023 Rental Home Appreciation
Jacksonville in sunny Florida has more than 150 neighborhoods and is the largest city in the continental U.S. Real estate investors appreciate its excellent location and fantastic climate. In addition, Jacksonville currently has an affordable cost of living, an exceptional quality of life, and an administration welcoming to entrepreneurs looking to purchase an investment property.
Jacksonville's relaxed and easygoing lifestyle is a big attraction for real estate investors new to the city. The area boasts over 20 miles of Jacksonville beaches linked by Beach Blvd, a famous art scene, and an attractive range of work and leisure options. As a result, Jacksonville was named 5th 'Most Popular City Moved To in 2019' in the 2020 U.S. Census Bureau's Migration Report.
Jacksonville's Attractive Housing Market
Property experts are investing in the Jacksonville market in single-family and multifamily rental properties. Investors looking for high potential appreciation, secure cash flow, and advantageous rental rates take advantage of the Jax area's investment opportunities.
- Oceanway: Located close to downtown Jacksonville and the St. Johns River, the Oceanway neighborhood is a popular suburb with many single-family homes and townhouses occupied by renters. The price per square foot is reasonable in this area.
- East Arlington — This neighborhood is close to the Ed Austin Regional Park and the JAXEX at Craig Airport. Jacksonville real estate investors rank it among the best locations to buy property in because of its great schools and recreational facilities.
- Del Rio — this area has excellent access to outdoor activities, particularly local beaches and waterways. Schools are good, which attracts families to rent in the suburb.
- Lakeside — this gated community is south of downtown Jax and is popular with retirees and families alike because of the significant community parks and proximity to the St. Johns River.
In the Jacksonville area, real estate brokerages in Ponte Vedra and Duval also see real estate market growth, with homes for sale being snapped up as investment opportunities. In addition, some real estate investors, property managers, and realtors are also venturing outside the city of Jacksonville itself and heading to St Mary's, Palatka, or St. Johns County to buy rental properties and foreclosures in need of renovation.
Rental Home Appreciation in Jacksonville
Jacksonville is in northeast Florida, and although potential investors have overlooked its investment properties in the past, its favorable home prices, steady home values, booming economy, and attractive geography are causing real estate investment growth. In addition, realty brokerages believe that new residents come to the city for the outdoor lifestyle, beautiful suburban neighborhoods, and the overall feeling of safety. Located near the St. Johns River and the coast, there's easy access to I-95 throughout the city.
Jacksonville celebrates its history and culture with festivals and a widespread live music program. Downtown is home to an art district that showcases local talent, and local attractions such as the Jacksonville Zoo and Gardens and the Friendship Fountain make it a fun place to live.
Rental home appreciation, real estate investing, and population growth in the city are partly due to these attractions. Investors are also seeing families move to the area to take advantage of some of the best public schools in the U.S.
Economic Growth in Jacksonville
Property investors are so attracted to Jacksonville because of the growing job market. The city lies close to the third largest seaport in Florida and Naval Air Station Jacksonville, the most extensive Navy base in the Southeast Region. Each provides jobs for many incomers to the city.
The local universities, the University of North Florida, Jacksonville University, and Edward Waters University, amongst others, also provide many job opportunities. The city is also home to several large businesses, including JPMorgan Chase, Deutsche Bank, Fidelity National Financial, Winn-Dixie, and Landstar.
Is Jacksonville the market for you?
If you're interested in learning more about how to invest in rental homes easily, head to Arrived to request more information.