If you’re looking for an investment opportunity that promises to generate passive income, Jacksonville, Florida is the place to be. The city’s house prices have appreciated by 4.6% on average from 1982-2019 — 25% more than other similar markets such as Dallas and Kansas City — making it a desirable investment destination for those seeking higher returns.
Recent data released by the U.S. Census Bureau shows that Jacksonville was the fifth fastest-growing large metro city in the country between 2017 and 2019, with a growth rate of 3.6% over the previous year and an overall growth rate of 1%. This meant that nearly 75 new residents were welcomed into Jacksonville each day during this time period.
Jacksonville’s growth rate is driven in part by its variety of desirable neighborhoods. According to John Burns Real Estate Consulting, nine of the top 21 fastest-growing neighborhoods in Florida are located within Duval County, with Lackawanna topping the list. Other notable neighborhoods include Mixon Town, Magnolia Gardens, Kennel Club, and New Town.
For investors seeking to maximize their return on investment it’s essential to consider purchasing property in the most affordable yet appreciating markets. Comparing Jacksonville with Cleveland — two popular markets for investment seekers — one will notice that investing $250,000 in Cleveland may result in slightly higher cash flow compared to Jacksonville. However, the historical average for home price appreciation rate in Cleveland is 3.2% per year — far lower than Jacksonville’s 4.6%. Over a 20-year holding period the investor who purchased properties in Jacksonville would earn an additional $364,573 compared to their counterpart in Cleveland — over $100,000 more simply because they chose the right market!
Furthermore, Jacksonville is also a great place to start or expand your business. The city has attracted several large corporations to set up headquarters in recent years, including Bank of America and Fidelity Investments. Additionally, there’s an ongoing effort to revitalize downtown Jacksonville with new restaurants, housing units, and office spaces.
All in all, Jacksonville is a great place to invest for those seeking passive income and higher returns on their investments. By taking advantage of the city’s growing population and stellar job market, investors are sure to experience long-term success. Join us every week at NYAIS for advice and tips about investing in Jacksonville — don’t miss out on this great opportunity! –> end content.
For those looking toward the future, investing in Jacksonville is a smart move. With its growing population, desirable neighborhoods and swelling job market, Jacksonville offers investors an opportunity to maximize returns while enjoying long-term success. Whether you’re a first-time investor, experienced real estate investor, or business owner looking to expand, Jacksonville has something for everyone.
By taking advantage of the city’s historic appreciation rate and projected population growth, investors can reap the rewards of steady cash flow and higher returns. With an average annual appreciation rate of 4.6%, Jacksonville is a great alternative to other markets such as Cleveland, where the average appreciation rate is 3.2%. Over a twenty year holding period, an investor who purchased property in Jacksonville would earn an additional $364,573 compared to their counterpart in Cleveland.
At NYAIS, we provide advice and tips about investing in Jacksonville so you can make the most of this great opportunity. Join us every week for up-to-date information about investing in Jacksonville and get ready to experience long term success.
