{"id":1004149525,"date":"2016-08-11T22:04:28","date_gmt":"2016-08-12T06:04:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149525"},"modified":"2025-02-26T23:38:36","modified_gmt":"2025-02-27T07:38:36","slug":"yardi-matrix-jacksonville-boomtown-usa","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-jacksonville-boomtown-usa\/","title":{"rendered":"Yardi Matrix: Jacksonville \u2014 Boomtown, USA"},"content":{"rendered":"
\"Jacksonville<\/a>

Jacksonville rent evolution, click to enlarge<\/p><\/div>\n

Jacksonville has enjoyed substantial population growth in recent years, benefiting\u00a0from above-trend job gains and affordable housing. The growth is generating\u00a0demand that is boosting prospects for the metro\u2019s multifamily market.<\/p>\n

Economic growth comes from an array of segments. Record tourism has led to\u00a0gains in hospitality employment. Health care facilities are expanding, as is the\u00a0distribution industry. With the growth of the U.S. economy, more goods are\u00a0coming through the city\u2019s major port. The sector also benefits from the recent\u00a0opening of the Panama Canal and the completion of an intermodal container\u00a0transfer facility at the Dames Point terminal. The metro\u2019s hiring boom in recent\u00a0years has extended to its small-but-rapidly-growing tech sector, which has nearly\u00a0doubled since 2001.<\/p>\n

The hiring spurt coupled with a thin amount of inventory and restrained\u00a0development, have encouraged rent growth. The metro\u2019s pace of new deliveries\u00a0in 2015 trailed the nation for the fifth consecutive year. Absorption remained\u00a0strong, pushing occupancy up to 95.3 percent as of May 2016. On the sales front,\u00a0investors have been aggressively competing for value-add assets that offer\u00a0decent yields, setting a new benchmark for the highest price per unit in the\u00a0current cycle. While the development pipeline is significant, we expect demand\u00a0to keep up, leading to an overall rent increase of 4.0 percent this year.<\/p>\n

Read the full Yardi Matrix Report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Multifamily Summer Report 2016: The city’s substantial population growth and above-trend job gains are boosting the metro\u2019s multifamily market.<\/p>\n","protected":false},"author":873,"featured_media":1004149461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21782,21808,1591,21742,37795],"tags":[],"class_list":["post-1004149525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-development","category-featured","category-jacksonville","category-latest","category-rc-occupancy"],"acf":[],"yoast_head":"\nYardi Matrix: Jacksonville \u2014 Boomtown, USA - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-jacksonville-boomtown-usa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix: Jacksonville \u2014 Boomtown, USA\" \/>\n<meta property=\"og:description\" content=\"Multifamily Summer Report 2016: The city's substantial population growth and above-trend job gains are boosting the metro\u2019s multifamily market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-jacksonville-boomtown-usa\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-12T06:04:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:38:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/MatrixMetros_Jacksonville_800x620.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-jacksonville-boomtown-usa\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-jacksonville-boomtown-usa\/\",\"name\":\"Yardi Matrix: Jacksonville \u2014 Boomtown, USA - 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