Why Jacksonville is a Great Place to Invest in Property
Warm weather. Beaches. No state income tax. Sure, there’s a lot of reasons to move to Jacksonville, Florida, but this city is a smart place to make your next property investment. In fact, Jacksonville has one of the top real estate markets in the country right now.
As a property management company in Jacksonville, Florida, we wanted to share with you some reasons why Jacksonville is a great place to make your next property investment, whether residential or commercial.
- Jacksonville is growing fast – Jacksonville grew by 2.5% in population in 2017 and about 44% of the population rent the homes they occupy. As the biggest city in Florida, Jacksonville is ranked 12th in nation, which means there’s a lot of potential renters. As you can see, this city has a reliable real estate investment market. Also, Jacksonville has 34,000 military-affiliated personnel who need housing. Real estate depend on a stable population base and Jacksonville has that!
- Business is growing too – Florida is ranked #4 with the strongest economy in the states. There’s a lot of jobs and future job growth in Jacksonville. The strong economy will influence the house market. Recently, the annual rate of employment growth in the city is 3.6%. Also, the city still has a lower cost of living and affordable places to live compared to other east coast cities.
- Housing is affordable – Currently, housing in Jacksonville is affordable. The median home value is around $200,000 and median rents per month are around $1,350 a month, which means the city is affordable for investors and tenants. Now would be a good time to invest because home prices are expected to rise in the city by 4.4% in the next year, which is a rate double the national average.
- Long-term returns – Jacksonville is suitable for long-term renters, which means its stable for investments. Jacksonville is a great city for families and older retirees, which have a lower turnover rate than single professional adults or college students.
As you can see, the city of Jacksonville is a wise choice for your next real estate investment. If you are interested in commercial or residential property in Jacksonville, our team at Quest can help you with your investment decision. We know market trends and the city. We can also help you manage your property. We will work with you every step of the way to make this investment easy for you.
Work with a Jacksonville Property Management Company
Since 1985, Quest Real Estate has been offering property management services in the Jacksonville, Florida area. We’ve managed hundreds of properties and we understand what it takes to manage a building. If you are buying or selling residential property, our team of experts at Quest can assist you. We provide a wide range of real estate property management services, as well perform a thorough market analysis to help sell your property at its maximum value.
A property management company, like our team at Quest Real Estate, specializes in running and managing the day-to-day tasks of a rental property for you. As a Jacksonville property management company, we are effective, knowledgeable, and experienced at managing a building, finding and keeping tenants, and handling tenant disputes and evictions. Our experts have more than 20 years of combined experience in managing properties.
Want more reasons to work with us? Here are even more benefits of working with a property management company.