As rents have been rising steadily across Jacksonville, a study released this month found five neighborhoods have seen the biggest increases in one-bedroom rents.
Rent.com looked at Jacksonville’s available inventory on Apartment Guide and Rent.com, comparing the average prices from August 2019 to the same period a year ago to find the highest percentage increases in one-bedroom apartment prices.
Sans Souci, which is located in the southeast part of town, saw the biggest spike, with a one-bedroom apartment's averaging $857, which is an 18.9% increase over August 2018.
Beach Haven saw the second biggest increase. Its boundaries run roughly between Hodges Boulevard and San Pablo Parkway. Beach Haven’s one-bedroom rents averaged $967, an increase of 13.93%.
The Northside, which has been experiencing a lot of growth, is also seeing corresponding rent increases. The average one-bedroom apartment was $918 in August, which is an 11.27% increase.
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Rent.com's boundary map considers the Northside to begin north of the Trout and St. Johns rivers, extending west to roughly New Kings Road.
The Regency area saw a sizable 9.56% rent increase to an average of $839 for a one-bedroom apartment.
And the Westside’s Hyde Park is between I-295 and the Cedar River. It saw a 6.26% increase, with the average rent for a one-bedroom at $728.
Rent.com cited a construction boom, growing population and more job opportunities as reasons for the rising rents.
A similar study by RENTCafé that WJCT News reported on in April, found the average rent in Jacksonville had risen 6.3% between March 2019 and March 2018. The RENTCafé study looked at average overall rent, as opposed to average one-bedroom rent.
Jacksonville's rents are increasing even as the area sees a record amount of multifamily housing construction. Colliers International reported in January that roughly 2,500 new units had been begun since June 2018. Colliers predicted 2019 would be even busier with nearly 7,000 units under construction.
Bill Bortzfield can be reached at bbortzfield@wjct.org, 904-358-6349 or on Twitter at @BortzInJax.
