Renter demand remained strong in Q1 2025, with 1,800 units absorbed—marking the highest first-quarter total in a decade outside of the early 2021 pandemic surge.
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Development activity is slowing sharply, with units under construction down 50% year-over-year and starts down 40%, signaling the market has moved past the peak of its current supply cycle.
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Multifamily investment volume in 2024 totaled $530 million, down just 3.1% year-over-year, indicating relatively stable transaction activity for deals over $2.5 million.
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MARKET OUTLOOK
The Jacksonville multifamily market continues to show signs of stabilization and improving fundamentals as of the second quarter of 2025...
