Jacksonville, Florida is topping the list of several recent surveys predicting the hottest real estate markets for 2017.
In an article published by Forbes online magazine titled the “10 Hottest Real Estate Markets To Watch in 2017,” Trulia ranked Jacksonville no.1 on their list.
According to a survey on Realtor.com called “The New Hot Spots Where Americans Are Moving Right Now,” Jacksonville came in second for cities gaining the most residents as well as the no.2 destination for millennials.
Jacksonville continues to show a strong job market with growth of 3.8 percent in 2016. This has led to a low unemployment rate of 4.4 percent and a larger amount of inbound searches on Trulia.com, versus outbound searches of locals leaving the area. Jacksonville also offers a year-round economy and is the only Florida city with four different company headquarters on the Fortune 500 list. The city has seen a 20 percent population growth over the past decade and its workforce is expanding at twice the national average. In 2013, Forbes ranked Jacksonville as having the second fastest growing technology services base in the nation in a survey titled “The Cities Winning the Battle for America’s Biggest Growth Sector.” Other notable industry sectors include finance and healthcare.
A strong healthcare industry leads to a better quality of life and makes Jacksonville a magnet for senior citizens. Five of the city’s top ten private companies provide, or are affiliated with, healthcare services, such as Baptist Health — Jacksonville’s largest private employer. It is also the home of one of three Mayo Clinics in the United States.
Seven of Jacksonville’s high schools have appeared in Newsweek magazine’s top schools in the nation including Stanton College Preparatory School and the Paxon School for Advanced Studies. The area is also home to several universities/colleges including the University of North Florida, Florida State College of Jacksonville, Jacksonville University, Florida Coastal School of Law, the Art Institute of Jacksonville and Edward Waters College. Nearby, Saint Johns County has been ranked the no. 1 school district in Florida for the past 10 years.
Jacksonville’s cost of living ranks below the national average, making it more affordable than many other American cities. Housing, healthcare and groceries all cost less than the national average. The local housing market is still recovering from the recent real estate market collapse, making it a great place to find homes for personal purchase and investment.
The city has an average of 221 days of sun and a close proximity to beaches and the Atlantic Ocean — two reasons Sperling’s Best Places gave Jacksonville a score of 77 out of 100 on its comfortable year-round climate index. The U.S. average for the comfort index is 54.
Trends indicate that Jacksonville will continue to benefit from strong population and economic growth, and a growing demand for real estate. This makes it a great location for investors who will likely see larger returns on their investments. Crowdfunding has made it easier than ever to invest in profitable real estate properties.
RealtyeVest is a real estate crowdfunding company headquartered in Jacksonville, Fla. The company offers investors the opportunity to capitalize on residential, multifamily and on-trend properties in Florida and across the United States.
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