More and More Millennials Are Moving to Jacksonville, FL!
Millennials, the largest population cohort now living, are in their prime homebuying years. Ranging in age from late 20s to early 40s, they are the largest group of homebuyers, making up 38% of the home-buying market, a substantial increase from 28% last year. And where are millennials choosing to buy their homes? With a strong local economy, gorgeous weather, a diverse lifestyle, and unique new housing choices, it’s not surprising that so many millennials are moving to Jacksonville, FL.
Jacksonville is one of the largest and fastest-growing cities in the country. Forbes recently cited it as the #2 most popular city to move to. In fact, the number of residents in their 20s and 30s has increased substantially in the past decade or so. As of 2022, millennials made up 40% of the home buyers in Jacksonville. US News and World Report also ranked it as one of the top 25 best places for young professionals. Here are the top reasons why Jacksonville is one of the Best Places for Millennials to live.
Is Jacksonville Good for Millennials?
The Job Market
The Jacksonville job market is booming, especially for millennials. In April, The Wall Street Journal ranked Jacksonville the 2nd hottest job market in the United States and the top market in Florida. The rankings measured five factors: the unemployment rate, labor-force participation, job growth, labor-force growth, and wage growth in 2023. The job opportunities here are a huge win for young professionals. The manufacturing, logistics and transportation, and aviation industries are major employers, with corporations such as CSX, Toyota, Northrop Grumman, and many others offering jobs in Jacksonville. The city has one of the fastest-growing financial sectors in the country, with several national banks including Merrill Lynch, JPMorgan Chase, Fidelity Investments, and Deutsche Bank calling it home. Sports merchandise marketer Fanatics is headquartered here, too. Residents may also find military or civilian job opportunities at one of the military bases in the Jacksonville area.
The Cost of Living
Jacksonville consistently ranks among the more affordable cities in America. Currently, its cost of living is 6% lower than the national average. Jacksonville's housing expenses are 6% lower than the national average while utility prices are 5% higher than the national average. The median home price is $425,211. Energy bills average $185.48/month. Transportation expenses like bus fares and gas prices are 17% lower than the national average. Grocery prices are 2% lower than the national average. Healthcare here is 17% lower than the national average. Another reason to live in Jacksonville is no state income tax for Florida residents. No income tax, no inheritance tax, and no estate tax. Since less money is coming out of your paycheck each month, you’ll be able to spend or save this extra cash in other ways. Jacksonville offers many safe neighborhoods, a relatively low crime rate, beautiful beaches, and plentiful outdoor activities. When it comes to livability, this city has the amenities of a big city – professional sports teams, lively nightlife, and great beaches – at an unbeatable price.
Beyond The Beaches: Culture, History & The Great Outdoors
Jacksonville has a vibe that young people love, with buzzy events, fun new hotspots, and places to meet up after work. Additionally, Jacksonville is home to the largest urban park system in the country (over 80,000 designated acres!), and extraordinary cultural and historical spots. As a melting pot of cultures and races since 1564, Jacksonville is proud of its heritage and culture. You’ll find more than a dozen museums filled with interactive exhibits and world-class art, showcasing everything from history to science and everything in between. But you don’t need to stop at the museums. Art and history are everywhere in Jax – historic neighborhoods, the Art in Public Spaces Program, the Jacksonville Symphony, the Jacksonville Jazz Festival, and numerous street fairs and craft markets. In addition to its gorgeous beaches, Jacksonville offers acres of parks, waterways, and ecological preserves. Its urban park system includes 400 city parks, seven state parks, three national parks, and dozens of gardens and arboretums. There are miles of untouched woodlands, marshes, beaches, and waterways to explore.
The Weather
No doubt about it, one of Jacksonville’s biggest draws is sunny, mild weather all year round. (It is in the Sunshine State, after all!) With an average of 221 sunny days per year, and an average annual temperature of 70 degrees, Jacksonville’s weather is almost perfect. The city receives about 52 inches of rain per year, mostly during the rainy summer season. While summers are hot and humid, from November through April, the weather is dry, sunny, and gorgeous. Did we mention the 221 sunny days every year?
The Best New Homes in Jacksonville!
Millennials are buying homes in record numbers for a variety of reasons, including:
- Wanting to build equity. Homeownership is a long-term investment that allows you to build wealth, increase your net worth, and become more financially stable.
- Craving stability. As your future becomes clearer, you are ready to establish a lifestyle in a particular place and put down roots.
- Rising home values. By purchasing a home, you own an asset that traditionally increases in value over time. Your home will likely have a higher resale value if you decide to move.
- Wanting to have your own place. Owning a home gives a sense of freedom because you can make it yours, make updates as you see fit, and be yourself.
If you are thinking about buying a home in Jacksonville, FL, Dream Finders Homes has beautiful townhomes and single family homes available in over a dozen unique communities throughout the area. You’ll love the great community amenities as well as the convenient locations and range of price points!
- In Jacksonville, you’ll find Cedar Creek, with townhomes & single family homes from the mid $200s, Creekside Manor, with single family homes from the mid $300s, and Dunn’s Crossing, with single family homes from the low $300s.
- In nearby St. Augustine, we have a variety of communities: Brandon Lakes at Silver Landing - luxury townhomes from the mid $300s; Beacon Lake - single family homes from the mid $400s; Holly Landing at SilverLeaf - single family homes from the mid $500s; Cherry Elm at SilverLeaf - luxury townhomes from the upper $300s; Cordova Palms - single family homes from the mid $300s; Silver Landing at SilverLeaf - single family homes from the mid $300s; and TrailMark - single family homes from the mid $300s.
- At Wilford Oaks in Orange Park, you’ll find single family homes from the low $300s. The Hammock at Palm Harbor in Palm Coast offers luxury townhomes from the low $300s, while Beachwalk in St. Johns has luxury townhomes from the upper $500s.
Contact Us Today!
Are you relocating to Jacksonville, FL? We love this city and love sharing its wonders with people who appreciate its varied lifestyle. There are so many positive benefits that come with buying a home here. If you’re looking for modern floor plans, exceptional craftsmanship, and great value, look no further than a new Dream Finders home. For more information on new homes in Jacksonville, FL or to schedule an appointment, connect with us today.