Why Move to Jacksonville?
Tali Wee of Zillow provides a few reasons for why people should consider relocating to Jacksonville.
Jacksonville Neighborhood Home Values Rebounding. Courtesy of Zillow.com
Choosing between living in the city or suburbs can be tough when planning a move to a large metropolitan area. However, Jacksonville has quality features that many surrounding areas do not.
Check out what Jacksonville has to offer and learn why it is a preferred destination for home shoppers.
Accessibility
The population of Jacksonville is 840,035 people, making it the largest city in Florida. However, the high number of residents should not deter homebuyers, as it is more accessible than some smaller cities. Miami, the second largest city in Florida, has less than half the population at 401,612, but the average commute time is high at 29 minutes. Although populated, the commute time in Jacksonville is less, at an estimated 26 minutes, the same as the U.S. national average.
Affordability
Jacksonville is also a great option for house hunters looking to rent. The average monthly rent cost in the United States is $1,500. In Jacksonville, the median rental price is approximately $980 per month. Like renters, home buyers are at an advantage in Jacksonville. The average list price for homes is $151,000, whereas in the United States, the average list price is around $221,000. Whether renting or buying, moving to Jacksonville is more economical than relocating to the average U.S. city.
High Home Values
The median home value in Jacksonville is $106,200, which has increased 11 percent since last year. The U.S. median home value has only increased 6 percent in the last year, indicating the Jacksonville housing market is growing faster than the nation as a whole. In comparing positive market trends, Jacksonville has the suburbs beat too. Home shoppers considering nearby St. Augustine may be surprised to know that the city falls short at only a 10.2 percent home value increase in the past year. Fernandina Beach, located approximately 40 miles outside of Jacksonville, is experiencing a downward trend in home values with a drop of 0.2 percent from last year. As long as the market maintains its momentum, relocating to Jacksonville may yield a higher return compared to nearby cities.
School Ratings
There are a total of 240 schools in Jacksonville, providing parents and families with a number of possibilities on public, private or charter schools. Out of those 240 schools, there are 24 public schools that have a GreatSchools rating of eight or higher. In comparison, St. Augustine, a smaller city located approximately 50 miles away, has only six public schools that rank that high. Fernandina Beach only has a total of eight schools, limiting options for families with young children who may be considering moving there. There are also more options in terms of type and quality of education in a larger city like Jacksonville than in surrounding suburbs.
Property Taxes
The property taxes in Jacksonville are significantly lower than the average property tax rate in the United States. On average, Jacksonville residents only pay $1,924 in property taxes. The U.S. average is a staggering $3,025. Property taxes in neighboring St. Augustine and Fernandina Beach weigh in at $3,347 and $3,424, respectively. These rates make Jacksonville the more desirable choice for those looking to save money.
In addition to culture, restaurants, entertainment and nightlife, Jacksonville has impressive local housing market statistics. Although it is impossible to determine the housing market’s growth in the future, homebuyers can be confident that current trends are pointing toward Jacksonville as a good investment. Among its many positive attributes, Jacksonville is also beneficial for those looking for a solid school system and an easier commute to work.
Guest article by Tali Wee of Zillow