Matrix Multifamily Jacksonville Report-April 2025 May 01, 2025

High Supply Creates Challenges

Fundamentals were pressured by the sustained influx of high incoming supply in Jacksonville. Advertised asking rents stagnated on a T3 basis through February, in line with national rates, while YoY the gap was significant, with local rates down 1.7 percent as the U.S. average rose 1.2 percent.