{"id":819,"date":"2021-04-29T06:34:55","date_gmt":"2021-04-29T06:34:55","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=819"},"modified":"2023-09-12T14:53:05","modified_gmt":"2023-09-12T14:53:05","slug":"jacksonville-multifamily-market-report-spring-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-spring-2021\/","title":{"rendered":"Jacksonville Multifamily Market Report \u2013 Spring 2021"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Rent Growth Maintains Upward Trend<\/h2>\n\n\n\n<p>As the U.S. lays the groundwork for recovery, the Northeast Florida Regional Council established the Northeast Florida Economic Resilience Taskforce to support the region\u2019s economic rebound, contingent on federal financial assistance and a fast-tracked vaccine rollout. The <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/tag\/jacksonville-housing-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">metro\u2019s rental market<\/a><\/strong> has endured, with consistent rent expansion through 2020\u2014as of February, rents were up 0.1% on a trailing three-month basis to $1,168, below the $1,399 U.S. average.<\/p>\n\n\n\n<p>As of January, unemployment stood at 4.8% in Florida and 4.4% in metro Jacksonville, both below the 6.3% January national rate. Both the Florida and Jacksonville figures marked improvements from December, from 5.1% and 4.8%, respectively. Last year, the metro lost a combined 25,700 jobs. The $1.9 trillion American Rescue Plan will bring an estimated $17 billion to Florida. The bill includes an additional $300 per week in unemployment benefits, which Floridians began receiving from the week of March 22.<\/p>\n\n\n\n<p>Jacksonville had 6,265 units under construction as of February, with 94% of those targeting high-income earners. The largest share\u201477%\u2014of the development pipeline is expected to come online this year. Meanwhile, some $1.6 billion in assets traded in 2020, marking a 24.2% uptick compared to 2019, as well as a cycle peak over the past decade.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/1241-MatrixMultifamilyJacksonvilleReport-Spring2021?utm_source=Matrix-Blog&amp;utm_medium=Social\" target=\"_blank\" rel=\"noreferrer noopener\">Matrix Multifamily Jacksonville Report-Spring 2021<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rent Growth Maintains Upward Trend As the U.S. lays the groundwork for recovery, the Northeast Florida Regional Council established the Northeast Florida Economic Resilience Taskforce to support the region\u2019s economic rebound, contingent on federal financial assistance and a fast-tracked vaccine rollout. The metro\u2019s rental market has endured, with consistent rent expansion through 2020\u2014as of February, [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[31,221],"class_list":["post-819","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-2021"],"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 \u2013 Spring 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"As of February, rents in Jacksonville were up 0.1% on a trailing three-month basis to $1,168,below the $1,399 U.S. average.\" \/>\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-spring-2021\/\" \/>\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 \u2013 Spring 2021\" \/>\n<meta property=\"og:description\" content=\"As of February, rents in Jacksonville were up 0.1% on a trailing three-month basis to $1,168,below the $1,399 U.S. average.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/jacksonville-multifamily-market-report-spring-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-29T06:34:55+00:00\" \/>\n<meta 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