Sink your toes into Jacksonville’s sandy beaches!
Real estate investors who are searching for the best places to invest in real estate in 2018 should head off to Jacksonville! This populous city in Florida is the center of attention for many investors. With the city’s low property vacancies, job opportunities, rising rents and single-family rental unit developments, real estate investors are swarming around it like a hive full of bees. There is an enormous development going on in the Jacksonville real estate market with a 10.3% increase in average sales since 2016. And the average sale prices in Jacksonville are gradually rising every year.
Related: What’s Great About Jacksonville Real Estate
Jacksonville real estate market forecast
Home values in Jacksonville have gone up over the past few years and will continue to rise within the next year. According to the data from Mashvisor’s investment property calculator, the median price of homes currently listed in the Jacksonville real estate market is $280,635. This brings us to the question “Why is Jacksonville one of the best places to invest in real estate in 2018?” Well, in short, it’s attainable, affordable, profitable, and it is growing!
Top reasons to invest in Jacksonville real estate
#1: The growing population
Of course, without people there would be no such thing as real estate. The steady growing population in Jacksonville, FL makes it the perfect city for the best real estate investments. Last year alone Jacksonville recorded a population growth of 2.5%. Jacksonville ranked 13 among the largest cities in the nation, making it the 13th most populous city in the U.S. It’s without a doubt that with its growing population, Jacksonville real estate will experience a successful future in its real estate business.
#2: Long-term returns
Jacksonville has become one of the best places to invest in real estate in 2018 due to its ability to give investors long-term returns. In general, real estate is different from stocks because it protects your money and gives you long-term returns. In Jacksonville, real estate is getting tight dues to its immense and continuous popularity growth. The inventory is dipping and there is a good chance to get property now at a reasonable cost. This may be on the rise soon, so if there’s a better time to grab the opportunity in Jacksonville real estate market, it is now. In this way, you’ll benefit from that real estate appreciation and those long-term returns!
#3: Bright future
When you search for the best places to invest in real estate in 2018, not only do you want to look at its present situation but also its future. Jacksonville is shining bright with its future. The availability of jobs is set to increase by 42% in the next ten years! A wise investor would take this opportunity in the Jacksonville real estate market and buy investment property now to take advantage of that growth and rising demand for housing. More jobs in Jacksonville means more people which results in a higher need for housing.
Related: The 4 Best Places to Invest in Real Estate in Florida
#4: Great for families
As a real estate investor, you want to meticulously think of investment strategies that will benefit you in the long-run. An important factor to consider when searching for the best places to invest in real estate in 2018 is who are your target tenants? Are they college students or families? In many real estate markets, tenant turnover is relatively high due to numerous single grown-ups. That is why property investors tend to work more with tenants with families since they secure long-term leases. Jacksonville is one of those cities that lures in families because it provides resources for its residents like schools, high tech transportation, and entertainment facilities.
Ever since the recession, homes prices all over the country have generally gone down. In other areas, this may be normal but if you get a property in a tropical coastal area for a low price, you are lucky! One of the great features of Jacksonville is its low cost of living and affordable housing compared with different urban areas on the East Coast. Investors are able to buy real estate investment properties at very affordable prices.
#6: Economic growth
Jacksonville’s economy continues to develop year after year. This city is home to numerous different businesses which provide employment. Neither the state of Florida nor the city of Jacksonville has an income tax imposed. Moreover, with a low-level corporate tax rate of just 5.5%, you can see why Jacksonville is considered one of the best places to invest in real estate in 2018.
#7: Safe city
Property investors are always in search for areas with security and safety. It’s one of those major factors you should keep in mind constantly and should be a trait of the best places to invest in real estate in 2018. If you choose to invest in an area that is full of crimes and disastrous events, you are risking any chance you may have to succeed with your investment property. Jacksonville is the complete opposite of this. In Jacksonville, the crime rate has decreased immensely.
#8: Employment growth
Recent statistics show that the employment rate in Jacksonville has been growing annually at a rate of 3.6%. This trend is going to continue even in the coming years, and it has a direct impact on population growth and economic stability which makes it one of the best places to buy investment properties.
Related: Is It a Good Time to Buy Property in Florida for Real Estate Investing?
The Jacksonville real estate market is expected to grow rapidly from what was seen last year. All in all, it seems like this year has started on the right side for property investors and the Jacksonville real estate market. This market currently has an ideal environment for US investors in housing properties. There are more than 500 neighborhoods within the area of Jacksonville great for investing. One of the best neighborhoods to invest in Jacksonville is Riverside. Riverside is considered part of the downtown area.
- Median Home Price: $289,500
- Airbnb Occupancy Rate: 58.6%
- CoC Return:
- Average Rental Income/month:
To sum up
Finding the right location to invest in real estate is not an easy task. You need to analyze the area before making any decisions. You can make your search for the right investment property much easier by using Mashvisor. To start looking for and analyzing the best investment properties in Jacksonville, click here. Jacksonville real estate is highly recommended and very appealing to many investors who are looking for the best places to invest in real estate in 2018.