MARKET SNAPSHOT

Jacksonville Q2 2026

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AVERAGE RENT

$1,423 Q2 2026

OCCUPANCY RATE

90.7% Q2 2026

NET ABSORPTION

4,804 T4Q

ANNUAL RENT CHANGE

-0.5% Q2 2026

ANNUAL OCCUPANCY CHANGE

0 BPS

UNIT COMPLETIONS

2,660 T4Q

KEY TAKEAWAYS

Demand continues to outpace supply, with trailing 12-month absorption of 4,804 units nearly doubling the 2,660 units delivered, extending positive absorption to four consecutive quarters.

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The construction pipeline is contracting rapidly, with trailing 12-month starts falling to 1,674 units from 3,423 a year ago and 3,235 units remaining under construction (2.5% of inventory).

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Effective rents have stabilized at $1,423, down a modest 0.5% year-over-year. Still, Jacksonville has posted two consecutive quarters of sequential gains, while overall occupancy held steady at 90.7%.

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MARKET OUTLOOK

Jacksonville is positioned in the late stage of its supply cycle, with both starts and deliveries declining. The under-construction pipeline of 3,235 units, or 2.5% of inventory...

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