Jacksonville's real estate market has seen a 31% increase in 2015 over the previous year in the multi-family large developments segment -- those with 50 or more units --, based on Yardi Matrix data. The top 8 largest apartment developments delivered just over 2,000 new units to the market last year, compared to 1,531 new units in 2014.
The Northeast Florida city continues to be a hot market for renters. Demand is up along with monthly rental rates. The 2016 Yardi Matrix Multi-Family Outlook report projects a 5.6% rent growth in the next year for Jacksonville, which ranks as the 12th highest in the nation and above the national average of 4.6% expected rent increase.
Luxury amenities seem to be in high-demand among renters. Saltwater pools, sun decks, gaming rooms, yoga studios and pet grooming stations are just a few of the bragging points in these new communities. Units are boasting high-quality finishes and chic contemporary designs.
See what's new in Jacksonville's 8 largest rental developments of 2015