Jacksonville, Florida is number one in the state for both population size and square mileage. While other cities like Miami and Orlando get the bulk of the national attention, Floridians know that so goes Jacksonville, so goes Florida. This is truly the most important city center and the trends within it actually bode well for all who choose to make it their home. Unlike many cities that are attractive destinations but are priced too high for the average millennial to invest, Jacksonville offers both big city advantages and attainability.
The recent economic downturn took its toll on the Jacksonville housing market, and while things are improving nationwide, the home prices of many Jacksonville neighborhoods have not kept pace with the recent upturn. Those neighborhoods in Jacksonville that are lagging a little behind now offer an opportunity for entry-level home buyers to invest in an area that will appreciate in value as time progresses.
The Neighborhoods of Avondale, Riverside, San Marco, San Jose, and Ponte Vedra have rebounded from the economic downturn strongly and represent a great place to buy a home for those looking to spend a bit more. In particular, the neighborhood of Avondale/Riverside was selected by The American Planning Organization as one of its 10 best neighborhoods in the whole country for 2010. Its diverse mix of people, historic homes, and Still, housing costs among Jacksonville as a whole are approximately $30,000 lower than the national average. A Jacksonville home purchase a year ago netted the home buyer a four-thousand-dollar home value increase.
According to WalletHub, Jacksonville is the second best city in Florida for job seekers. That also makes it among the top 3rd cities for job seekers nationwide. This all means that housing price increases can be very sustainable since finding work is not difficult. Currently, the average Jacksonville homeowner only uses about 10% of their income on paying down their mortgage. The national average is over 16%, so the takeaway is that Jacksonville, FL is uniquely situated to be an affordable place to live that still brings a return on the home investment. While it may be overshadowed by the flashier cities of Florida, it is recognized by those in the know as one of the best places to settle down.