The real estate market in Jacksonville and Northeast Florida was super hot in 2021, and based on the numbers so far this year, demand should keep driving home prices and rents higher.
Home values in Jacksonville increased by more than 27% over the past year, and many of the best neighborhoods in the metropolitan area have more renters than homeowners. Many people are moving to this part of Florida from more crowded urban areas in the northeast, making Jacksonville one of the hottest small in-migration metro areas.
We recently looked at Jacksonville neighborhoods in which to find great investment properties.
Key takeaways
- Jacksonville is home to nearly 950,000 people in the city and 1.6 million in the metropolitan area.
- There are nearly 200 neighborhoods in Greater Jacksonville, with home prices ranging from $35,000 to $9 million and more.
- Some of the neighborhoods in Jacksonville with more renters than homeowners include Riverside and Brooklyn.
>>Explore Roofstock's Jacksonville investment properties.
Why invest in Jacksonville?
Investors looking for a market with strong population growth, rising home prices, and double-digit rent growth might want to give Jacksonville a closer look.
The population of St. Johns County (part of the Jacksonville metropolitan area) soared by 44% over the last 10 years, and Jacksonville is now the twelfth largest city in the U.S. The lack of state income tax and amazing year-round climate are 2 reasons why many people and businesses are coming to Jacksonville.
Although home values in Jacksonville grew by more than 27% over the past year, they’re still relatively affordable. According to Zillow, the value of a median-price-tier home is $273,730 (through Jan. 31, 2022).
As with many of the best real estate markets in Florida, there’s a shortage of inventory, keeping the demand for rental property in Jacksonville strong and steady. Rents for 3-bedroom homes in the metro area increased by 18% year over year, according to the most recent Feb. 15, 2022, data from Zumper.
15 great areas in Jacksonville for investment properties
Jacksonville is still a seller’s market, which means there are still more buyers than sellers. However, bidding wars are on the decline, creating a window of opportunity for real estate investors in this part of Florida.
There are nearly 200 neighborhoods in Jacksonville and the nearby suburbs, and it can be hard to know where to begin looking for rental property. To help you get started, we’ve compiled 15 areas in Jacksonville to consider, based on data from Realtor.com, Redfin, and Niche.com.
Chimney Lakes
Chimney Lakes is located south of Downtown along I-295, a short drive from the Jacksonville Naval Air Station. The neighborhood has a sparse urban feel and receives good grades from Niche.com for housing and nightlife:
- Population: 18,308
- Median sale price: $297,578
- Change in sales price (year over year): 24.5%
- Days on market: 26
- Median rent: $1,348
- Renter-occupied households: 23%
- Median household income: $73,020
- ZIP code: 32222
Oceanway
Located just north of Downtown Jacksonville and the St. Johns River, the Oceanway neighborhood has a sparse suburban feel. The area has a good percentage of homes occupied by renters:
- Population: 10,999
- Median sale price: $316,050
- Change in sales price (year over year): 26.4%
- Days on market: 27
- Median rent: $1,388
- Renter-occupied households: 32%
- Median household income: $61,570
- ZIP code: 32218
East Arlington
The East Arlington neighborhood in Jacksonville is located east of Downtown, near Ed Austin Regional Park and the Jacksonville Executive at Craig Airport. East Arlington is ranked as one of the best places to buy a house in Jacksonville and receives great grades from Niche.com for housing and public schools:
- Population: 20,757
- Median sale price: $341,429
- Change in sales price (year over year): 21.1%
- Days on market: 23
- Median rent: $1,656
- Renter-occupied households: 26%
- Median household income: $85,767
- ZIP code: 32225
Beach Haven
Located west of Jacksonville near the Atlantic Ocean, Beach Haven is home to the Mayo Clinic in Florida and a few minutes from the University of North Florida. Beach Haven has a dense suburban feel:
- Population; 10,774
- Median sale price: $472,000
- Change in sales price (year over year): 21.3%
- Days on market: 27
- Median rent: $1,356
- Renter-occupied households: 18%
- Median household income: $109,927
- ZIP code: 32224
Riverside
Riverside is known for its vintage homes and trendy shops. Located just southwest of Downtown, along the shores of the St. Johns River, the Riverside neighborhood has a mixed urban-suburban feel, with most residents renting their homes:
- Population: 12,079
- Median sale price: $350,000
- Change in sales price (year over year): 16.9%
- Days on market: 37
- Median rent: $1,084
- Renter-occupied households: 68%
- Median household income: $58,007
- ZIP code: 32204
Brooklyn
The Brooklyn neighborhood is located just west of Downtown Jacksonville along the St. Johns River. Brooklyn is only a few blocks long, so rental property here is in high demand. Nearly 90% of residents rent their homes:
- Population: 2,295
- Median sale price; $258,000
- Change in sales price (year over year): No data available
- Days on market: 1
- Median rent: $1,282
- Renter-occupied households: 89%
- Median household income: $43,373
- ZIP codes: 32202, 32204
Baymeadows
Located south of Downtown along I-95, Baymeadows is ranked as one of the best neighborhoods in Jacksonville by Niche.com. The neighborhood has a mixed urban-suburban feel, and the majority of residents rent their homes:
- Population: 12,551
- Median sale price: $252,300
- Change in sales price (year over year): 25.8%
- Days on market: 27
- Median rent: $1,217
- Renter-occupied households: 84%
- Median household income: $54,155
- ZIP code: 32256
Secret Cove
The Secret Cove neighborhood in Jacksonville is located immediately north of Baymeadows and has an urban feel. Niche.com ranks Secret Cove as the best neighborhood in Jacksonville, and more residents rent than own:
- Population: 6,787
- Median sale price: $219,900
- Change in sales price (year over year): 30.9%
- Days on market: 26
- Median rent: $1,360
- Renter-occupied households: 60%
- Median household income: $76,330
- ZIP code: 32216
South Riverside
South Riverside is south of Downtown Jacksonville near Douglas Anderson School of the Arts. The neighborhood receives top nightlife grades and has a large percentage of renter-occupied households:
- Population: 2,557
- Median home value: $259,000
- Change in sales price (year over year): 7.9%
- Days on market: 44
- Median rent: $1,078
- Renter-occupied households: 56%
- Median household income: $50,519
- ZIP code: 32207
Windy Hill
Located next to Secret Cove and Baymeadows, Windy Hill has an urban feel, with a lot of coffee shops and restaurants:
- Population: 13,643
- Median sale price: $212,500
- Change in sales price (year over year): 28.8%
- Days on market: 35
- Median rent: $1,229
- Renter-occupied households: 68%
- Median household income: $58,630
- ZIP codes: 60605, 60607
Englewood
Englewood is located south of Downtown Jacksonville along Phillips Highway and I-95, near South Riverside. Englewood has a dense suburban feel and receives good grades for housing and nightlife:
- Population: 9,322
- Median sale price: $240,000
- Change in sales price (year over year): 33.0%
- Days on market: 28
- Median rent: $890
- Renter-occupied households: 42%
- Median household income: $47,938
- ZIP code: 32207
Duclay Forest
The Duclay Forest neighborhood in Jacksonville is located just west of the Jacksonville Naval Air Station, near the Oak Hill neighborhood. Duclay Forest has a dense suburban feel and a good percentage of renter-occupied households:
- Population: 3,413
- Median sale price: $159,000
- Change in sales price (year over year): -25.2%
- Days on market: 21
- Median rent: $1,229
- Renter-occupied households: 42%
- Median household income: $60,670
- ZIP code: 32244
Sandalwood
Sandalwood is located south of the Jacksonville Executive at Craig Airport, near the University of Florida and the Windy Hill neighborhood. Sandalwood has a dense suburban feel and receives good grades from Niche.com for housing and public schools:
- Population: 20,696
- Median sale price: $332,750
- Change in sales price (year over year): 28.0%
- Days on market: 20
- Median rent: $1,320
- Renter-occupied households: 40%
- Median household income: $60,787
- ZIP code: 32246
Jacksonville Heights
Jacksonville Heights is a popular area for renters, located southwest of Downtown Jacksonville, across the I-295 from Oak Hill. Jackson Heights has a sparse suburban feel:
- Population: 12,699
- Median sale price: $190,000
- Change in sales price (year over year): 28.8%
- Days on market: 29
- Median rent: $1,012
- Renter-occupied households: 47%
- Median household income: $49,175
- ZIP code: 32210
Oak Hill
Oak Hill is located next to Jacksonville Heights along the I-295, a short drive from Downtown. The Oak Hill neighborhood receives good grades from Niche.com, and almost half of the residents rent their homes:
- Population: 7,377
- Median sale price: $195,500
- Change in sales price (year over year): 20.3%
- Days on market: 10
- Median rent: $994
- Renter-occupied households: 49%
- Median household income: $49,454
- ZIP code: 60433
>>Explore Roofstock's Jacksonville investment properties.
