MARKET SNAPSHOT

Jacksonville Q3 2025

DOWNLOAD THE FULL REPORT

AVERAGE RENT

$1,474 Q3 2025

OCCUPANCY RATE

90.6% Q3 2025

NET ABSORPTION

5,215 YTD Q3 2025

ANNUAL RENT CHANGE

-1.2% Q3 2025

ANNUAL OCCUPANCY CHANGE

-10 BPS Q3 2025

UNIT COMPLETIONS

3,397 YTD Q3 2025

KEY TAKEAWAYS

Jacksonville ranked third in Florida for annual apartment absorption, with 6,800 units leased over the past year—outpacing larger markets like Miami and Fort Lauderdale despite having a smaller inventory base.

Click Here

New supply is slowing sharply, with just 813 units delivered in Q3—the second consecutive quarter below 1,000 units—and only 2,450 units slated for completion through 2026.

Click Here

Rents averaged $1,474 in Q3, down 1.2% year over year, as operators offered concessions to backfill a backlog of new supply. Despite near-term rent softness, steady absorption and a shrinking pipeline signal early signs of stabilization heading into 2026.

Click Here

MARKET OUTLOOK

Jacksonville’s apartment market is moving into a more balanced phase after several years of supply-heavy conditions. With absorption consistently outpacing expectations, demand has proven resilient and broad-based, led by strong leasing in high-growth suburban corridors. ...

READ THE FULL REPORT