Jacksonville, FL Multifamily Market Report Q3 2025

Jacksonville's multifamily market in Q3 2025 showed early stabilization with vacancy declining to 12.2% and positive absorption despite soft asking rents averaging $1,500 and negative 1.5% annual rent growth, reflecting pressure from several years of heavy supply delivery. The market featured 813 units delivered during the quarter with 2,800 units remaining under construction, sales volume of $315 million at an average price of $181,000 per unit and 5.8% cap rates, while the metro continued strong in-migration and employment growth supported by investments including a new University of Florida graduate campus and Otto Aviation manufacturing facility.