{"id":4893,"date":"2022-10-11T14:56:55","date_gmt":"2022-10-11T14:56:55","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4893"},"modified":"2023-09-13T05:07:49","modified_gmt":"2023-09-13T05:07:49","slug":"jacksonville-multifamily-market-report-september-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/","title":{"rendered":"Jacksonville Multifamily Market Report &#8211; September 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Jacksonville Shifts Down a Gear<\/h2>\n\n\n\n<p>After a banner 2021, the<strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/jacksonville-housing-market-april-2022\/\"> Jacksonville multifamily market<\/a><\/strong> shifted down a gear, to more sustainable levels of expansion.<strong> Rents were up 0.4%<\/strong> on a trailing three-month basis as of July, to $1,525, below the 1.0% U.S. rate. Still, that brought year-over-year growth to 13.5%, above the 12.6% national figure. Meanwhile, occupancy dropped 110 basis points as of June, to 95.2%, demonstrating another sign of cooling growth.<\/p>\n\n\n\n<p>Metro Jacksonville gained 25,900 jobs in the 12 months ending in May. <strong>That marked a 4.8% rise<\/strong>, 10 basis points above the national average. Professional and business services brought the most positions\u201413,700 jobs, for an 11.9% hike\u2014again underpinning Florida\u2019s status as a strong magnet for office-using employees. Unemployment reached 2.9% as of June, relatively in line with other metros in the state and below the 3.6% U.S. figure.<\/p>\n\n\n\n<p>A total of 1,590 apartments came online in the first seven months of the year, with an additional 9,365 units under construction as of July. Yardi Matrix expects 3,788 units to come online through the end of 2022, which would mark the highest level of deliveries since 2019. Following a record $2.6 billion in multifamily deals last year, <strong>transaction volume reached $1 billion year-to-date through July<\/strong>. The price per unit clocked in at $138,737, close to the figure recorded during the same time frame in 2021 but substantially below the $216,893 U.S. average.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/2801-MatrixMultifamilyJacksonvilleReport-September2022\" target=\"_blank\" rel=\"noreferrer noopener\">Matrix Multifamily Jacksonville Report-September 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jacksonville Shifts Down a Gear After a banner 2021, the Jacksonville multifamily market shifted down a gear, to more sustainable levels of expansion. Rents were up 0.4% on a trailing three-month basis as of July, to $1,525, below the 1.0% U.S. rate. Still, that brought year-over-year growth to 13.5%, above the 12.6% national figure. Meanwhile, [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[31,444],"class_list":["post-4893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-jacksonville","tag-multifamily-outlook-2022"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jacksonville Multifamily Market Report - September 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jacksonville Multifamily Market Report - September 2022\" \/>\n<meta property=\"og:description\" content=\"Jacksonville Shifts Down a Gear After a banner 2021, the Jacksonville multifamily market shifted down a gear, to more sustainable levels of expansion. Rents were up 0.4% on a trailing three-month basis as of July, to $1,525, below the 1.0% U.S. rate. Still, that brought year-over-year growth to 13.5%, above the 12.6% national figure. Meanwhile, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-11T14:56:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T05:07:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/10\/Jacksonville-iStock-1341007501.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bogdan Odagescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Jacksonville Multifamily Market Report - September 2022 - Yardi Matrix Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/","og_locale":"en_US","og_type":"article","og_title":"Jacksonville Multifamily Market Report - September 2022","og_description":"Jacksonville Shifts Down a Gear After a banner 2021, the Jacksonville multifamily market shifted down a gear, to more sustainable levels of expansion. Rents were up 0.4% on a trailing three-month basis as of July, to $1,525, below the 1.0% U.S. rate. Still, that brought year-over-year growth to 13.5%, above the 12.6% national figure. Meanwhile, [&hellip;]","og_url":"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-10-11T14:56:55+00:00","article_modified_time":"2023-09-13T05:07:49+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/10\/Jacksonville-iStock-1341007501.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bogdan Odagescu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-september-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Jacksonville Multifamily Market Report &#8211; 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