MARKET SNAPSHOT

Jacksonville Q2 2025

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AVERAGE RENT

$1,488 Q2 2025

OCCUPANCY RATE

90.9% Q2 2025

NET ABSORPTION

3,758 H1 2025

ANNUAL RENT CHANGE

-1.2% Q2 2025

ANNUAL OCCUPANCY CHANGE

-30 BPS Q2 2025

COMPLETIONS

2,590 H1 2025

KEY TAKEAWAYS

Renter demand remained strong, placing Jacksonville third in annual absorption among Florida’s six major metros as of Q2 2025.

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New completions are slowing rapidly, with just 600 units delivered in Q2 2025, down sharply from 1,990 units in the first quarter.

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Rent growth was mostly negative, but signs of stabilization emerged, the Southside submarket saw a 0.2% annual gain and the Arlington submarket rose 0.5% as renter demand outpaced supply in both areas.

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MARKET OUTLOOK

The Jacksonville multifamily market is showing continued signs of stabilization and improving fundamentals as of Q2 2025. Renter demand remains solid, with absorption closely tracking new deliveries, a notable shift following several years of supply-driven headwinds...

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