MARKET SNAPSHOT

Jacksonville Q3 2026

AVERAGE RENT

$1,431 Q3 2026

OCCUPANCY RATE

91.4% Q3 2026

NET ABSORPTION

5,207 T4Q

ANNUAL RENT CHANGE

1.0% Q3 2026

YoY OCCUPANCY CHANGE

+70 BPS

UNIT COMPLETIONS

2,819 T4Q

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KEY TAKEAWAYS
Jacksonville's rental market fundamentals are clearly strengthening, with trailing four-quarter absorption nearly double new completions and demand remaining broad-based across nearly all submarkets.
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The construction pipeline has contracted sharply from its 2023 peak, with both starts and deliveries declining in tandem, positioning the market for continued easing of supply-side pressure through 2027.
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Rent growth has turned decisively positive after an extended stretch of softness, with Jacksonville ranking second among regional peer markets, even as occupancy recovery continues at a steadier, somewhat slower than average pace.
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MARKET OUTLOOK

Jacksonville's multifamily market is emerging from its recent supply cycle in a clearly stronger position. The construction pipeline has contracted sharply from its 2023 peak, with both starts and deliveries continuing to decline in tandem, and demand remains well ahead of new supply...

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