Jacksonville Market Report 1st Quarter 2023 by NAI Hallmark
Jacksonville Multifamily Market Indicators

Although net absorption in North Florida remained positive in Q1 2023, occupancy may drift slightly lower than the historical trend (95%) as several submarkets integrate this next wave of supply. Rent growth in Q1 2023 returned to normal historic levels (2%-4%) while the MSA continues to be the most affordable major Florida market. Due to solid job and wage growth fundamentals, Jacksonville continues to be a destination for investment capital despite insurance and capital market headwinds.

John Rutherford, Senior Vice President, Multifamily Investment Sales with NAI Hallmark
John Rutherford

Senior Vice President, Multifamily Investment Sales

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