A smaller construction pipeline is creating a more supportive backdrop for 2026. With fewer projects moving forward and the delivery wave fading, Jacksonville is transitioning into a healthier supply environment that should allow demand to catch up and fundamentals to stabilize.
Occupancy is expected to hold relatively steady as the market finishes absorbing recent deliveries. While vacancy remains elevated compared with Florida peers, most of the pressure is tied to lease-ups from the prior construction surge, and conditions should gradually improve as new supply moderates.
Rent growth is positioned to regain momentum by late 2026. After a period of flat to slightly negative pricing, Jacksonville is forecast to return to modest, positive rent growth as supply pressure eases and leasing conditions normalize.
