Jacksonville, FL Rental Market Trends

Jacksonville Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Jacksonville, FL. Currently, the overall median rent in the city stands at $1,345, roughly the same as last month. Prices remain down 4.0% year-over-year. Read on to learn more about what’s been happening in the Jacksonville rental market and how it compares to trends throughout the nation as a whole.

Jacksonville rents are flat month-over-month and down 4.0% year-over-year

The median rent in Jacksonville rose by 0.2% over the course of April, and has now decreased by a total of 4.0% over the past 12 months. Jacksonville’s rent growth over the past year has has fallen behind both the state (-2.7%) and national averages (-0.8%).

Jacksonville rent growth in 2024 pacing above last year

Four months into the year, rents in Jacksonville have risen 0.7%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 0.1%.

April rent growth in Jacksonville ranked #70 among large U.S. cities

Jacksonville rents went up 0.2% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #70. Similar monthly rent growth took place in Hialeah, FL (0.2%) and Aurora, CO (0.2%).

Jacksonville is the #65 most expensive large city in the U.S., with a median rent of $1,345

Citywide, the median rent currently stands at $1,131 for a 1-bedroom apartment and $1,331 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,345. That ranks #65 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Jacksonville is 3.6% lower than the national, and is similar to the prices you would find in Arlington, TX ($1,347) and St. Paul, MN ($1,334).