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Discover Jacksonville 2017

HOUSING Based on rate of

HOUSING Based on rate of population gains, the U.S. Census reported St. Johns as No. 11 on the list of the fastest growing 100 counties in the United States. One new development in the area, Shearwater, offers homes from Florida Bungalow and Spanish Craftsman to Coastal Traditional and Florida Farmhouse designs. (Jacqueline Persandi/Florida Times-Union) For sale: New, historic and affordable homes Signs of growth are obvious in all directions in and around Jacksonville. New communities throughout Northeast Florida draw families, professionals and retirees. Existing communities and historic districts are attracting a new audience with renovations and infill construction. It all points to a steady comeback from the economic downturn that slowed growth for a few years. Home values are on the rise with the five-county average of $177,751, below the state average of $194,200, but still an increase of 3.4 percent. Median housing costs by county from low to high are $146,300 in Duval, $194,500 in Baker, $199,50000 in Clay, $229,800 in Nassau, and $273,400 in St. Johns. Analysts often rank Jacksonville high in job growth and housing affordability. Based on rate of population gains, the U.S. Census reported St. Johns as No. 11 on the list of the fastest growing 100 counties in the United States. St. Johns County showed an increase of 4 percent over last year, compared to a 2.1-percent average growth rate in the five-county area, 1.9-percent rate in Florida and a 1.9-percent rate nationwide. With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. Analysts agree the area is in the midst of one of the healthiest housing markets in the past 15 years. In conjunction with the improvements in the economy, an anticipated interest rate hike is expected. The Office of Economic and Demographic Research estimates that Baker, Clay, Duval, Nassau and St. Johns counties have nearly 598,490 housing units, including single-family residences, condos, apartments and manufactured housing. Nearly 65 percent of those are in Duval County. Single-family housing in the area is available in all price ranges. From handyman fixer-uppers below $100,000 to more than $10 million, homebuyers have choices. Homes in many upscale communities start in the high-$100,000s 22 | 2017 DISCOVER JACKSONVILLE

HOUSING First Coast housing by county BAKER CLAY DUVAL NASSAU ST. JOHNS 5-COUNTY TOTAL/AVG FLORIDA UNITED STATES Population 27,420 203,967 913,010 78,444 226,640 1,449,486 20,271,272 324,896,082 Population change 1.2% 2.1% 2.7% 2.4% 3.9% 2.1% 1.9% 1.9% Housing units 9,687 75,478 388,486 35,009 89,830 598,490 8,989,580 133,957,180 Homeownership rate 70.3% 69.6% 54.3% 64.1% 64.4% 58.6% 55.6% 63.5% Median value (owner-occupied units) $194,500 $199,500 $146,300 $229,800 $273,400 $177,751 $194,200 $188,900 Sources: Office of Economic and Demographic Research, U.S. Census, SuburbanStats. org, Point2Homes.com to mid-$200,000 and run into the millions, depending on available amenities. Upscale communities are found throughout the area and offer such amenities as navigable waterways, gated entrances, golf course, tennis courts and organized social activities. Condominium prices range from the low $100,000s to several million for a waterfront view. Historic areas are benefiting from infill construction activity. New homes are being built on vacant lots or to replace demolished houses. Historic areas such as Springfield, Riverside, Avondale, Tinseltown, San Marco and Murray Hill in Jacksonville are continuing to come back to life thanks to private enterprise and the city’s completion of infrastructure projects under the Better Jacksonville Plan. New developments also are springing up in Bayard, St. Johns, Nocatee, Palencia, Palm Valley, Mill Creek and World 2017 DISCOVER JACKSONVILLE | 23