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Whether there is a real estate bubble and, if so, will it pop is a popular topic across the country. The real estate marketing in Jacksonville, Florida, however, is a major exception.
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real estate, Jacksonville, florida, market, income taxes, homes, house, appreciation
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Whether there is a real estate bubble and, if so, will it pop is a popular topic across the country. The real estate marketing in Jacksonville, Florida, however, is a major exception.
The Real Estate Market in Jacksonville, Florida
Jacksonville is located in the northeastern part of Florida and is just below the border with Georgia. Real estate in Jacksonville is a steal, particularly given appreciation rates. A Jacksonville home will run you $125,000 on average, about $50,000 less than the national average.
The real beauty of homes in Jacksonville is the appreciation rate. Despite prices that are well below national averages, appreciation rates are excellent at approximately 14 percent. Put in practical terms, it is the perfect time to buy. You can get an excellent price and expect property values to increase. This represents the ideal real estate scenario.
As to the city of Jacksonville, things are definitely on the upswing. Job growth is triple the national average, and is expected to double or even triple over the next few months. Despite this strong growth, the cost of living is about 10 percent less than the national average. You’ll find more doctors on average than other locations in the nation, but the cost of medical care is about 15 percent less than you’ll find elsewhere on average. Since you are in Florida, you’ll pay no state income tax, which makes you’re money go a lot farther.
Although Jacksonville is located in the far north of Florida, it has a similar climate to the rest of the state. You’re going to get about 50 inches of rain on average and it is going to be in the nineties in the summer. Unlike Miami, however, the winter can get a bit nippy with temperatures falling into the mid forties. For many people, however, this is viewed as a positive since it is nice to get a break from the hot Florida climate every once in a while.
With low home prices, solid appreciation rates and no state income tax, Jacksonville is a prime real estate market.