Are you looking to purchase property with a high return on investment (ROI)? While every landlord hopes for this scenario, it’s not always an option with poor market conditions in some areas in Florida. However, the Jacksonville, FL real estate market is one of the best cities to purchase property due to population growth. From 2013 to 2018, the population of Jacksonville has risen by 8%. The median home price in Jacksonville is 33% lower than the national average.
The rental yield in Jacksonville is one of the highest in the nation. Some rental areas have seen significant revenue increase, many in excess of 3-10%. Over the last year, the job market has increased by 3%, leading to additional growth opportunities. The overall cost of living in Jacksonville is lower than many other regions, and it includes some elements that many people appreciate like warmer weather, no state income tax, and a conductive business climate.
Duvall County in Growing
Duvall County is growing thanks to its family-friendly approach. Many people come here thanks to festivals and the military presence, but they fall in love with water sports, golfing, art events, and nightlife. Jacksonville has the longest shoreline in the nation, with 22 beaches! The tourism industry and costal location make it one of the most popular real estate investment options in 2019.
In addition to having an attractive area to work with, Duvall County has shown significant real estate increase over the last decade. Some of the improvements in real estate include:
- A 10% increase in home sales prices since 2016
- Home equity increase of about 6% yearly, with many new listings up by $5,000 or more over a year
- Closed sales increase 12% in 2015 and an average of 5% since
A positive real estate market helps investors to know if the rental market will be in demand. With the real estate market proving to be positive, the job growth is the next thing to consider. Many younger investors are finding better employment opportunities in the Jacksonville area.
Investing in Jacksonville also comes with the decision of purchasing older homes. Investors find flipping and selling to be an ideal option as many of the younger first-time homebuyers are seeking older homes with modern appeal. When done correctly, flipping homes can be a profitable venture. A property management company can provide assistance in locating lucrative real estate for flipping. In addition to flipping single-family units, multi-family complexes are also proving excellent returns.
Keyrenter Property Management Jacksonville can provide assistance in locating the right property investment opportunities in the area. We can recommend the right real estate investment options, along with helping you to effectively manage the property.