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Unprecedented Multifamily Demand Leads to Record High Deliveries in Jacksonville

Despite approximately 8,200 units in the pipeline in the Jacksonville area, including half in the highly sought-after Baymeadows and Southeast markets, the multifamily vacancy rate is expected to remain below 5% through 2019.

Multifamily rents rates now average $1,100 a month in Jacksonville, FL. Multifamily rents rates now average $1,100 a month in Jacksonville, FL.

JACKSONVILLE, FL—With the likes of Amazon, the Mayo Clinic and Baptist Health investing in the greater Jacksonville area, no wonder the multifamily market here is enjoying strong demand and record deliveries.

The latest research from Colliers International Northeast Florida shows that Jacksonville has seen the strongest multifamily demand in 10 years with a record high occupancy rate of 96.5%. Despite approximately 8,200 units in the pipeline in the Jacksonville area, including half in the highly sought-after Baymeadows and Southeast markets, the multifamily vacancy rate is expected to remain below 5% through 2019.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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