Building Costs Per Square Foot in the City of Jacksonville (FL), USA

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Newly Built House in Jacksonville – 3843 ROSETREE DR, Jacksonville, FL 32207 – 4 Bed and 2 Baths with 2 Attached Garages on Gross Floor Area 1,760 sqft – Built in 2022 – Price $360,000

Residential Construction Market Analysis in the City of Jacksonville, USA

Today’s global economic context is quite changeable. One day things get better, and the next everything can fall apart, but the important thing is not to despair in these moments of uncertainty.

The fact that it is an unstable context should not be a determining factor in whether you decide to invest or buy in the real estate market. Do not forget that there will always be different disadvantages, so the completely ideal moment will never really come.

What you should do before deciding whether you want to buy a property or not, either to live in it or to invest, is to do some market research, especially in the particular territory in which you are interested.

This can be a bit tedious, which is why we have prepared this article for you so that you can see everything you need to know about the real estate market in one place. In this case, we will focus on Jacksonville, Florida, but you can find other similar articles from other cities in the United States.

Jacksonville Construction Outlook

Between rivers, crocodiles, and high temperatures, Jacksonville stands out as the most populous city in the State of Florida. Although the capital of the sunshine state is Tallahassee, Jacksonville stands out for its large number of inhabitants, reaching a population density of over 360 inhabitants per square kilometer.

This does not mean that it is the typical concrete jungle like it is in NY, Chicago or Los Angeles. Keep in mind that Miami and Orlando are also in Florida, so the urban population ends up rotating between those 3 cities.

The construction outlook of Jacksonville could be defined as “a big city with the spirit of a small town”, since although there are some skyscrapers they are not next to each other, so you can always see the sky and the sun that shines above the city.

In addition to some skyscrapers or buildings with glass windows, Jacksonville also has residential houses. Especially on the banks of the river, you will find some concrete houses covered with wooden planks so as not to lose the summer aesthetic.

Keep in mind that it is very hot in Jacksonville, and in the summer this heat mixes with humidity, so homes are built with that in mind. They always have a good heating or ventilation system, and large windows to ensure the circulation of more air.

See also  Building Cost Per Square Foot in City of Auburn, Alabama, USA - Class 3 Best Standard Single Family Homes, 4 Corner House.

Jacksonville Housing Market Analysis and Forecast

The city of Jacksonville has one of the best real estate markets in the entire country, as they are good prices for both buyers and sellers, and they also have a bright future ahead. Next, we will tell you a little more about the statistical numbers and future predictions.

When compared to the same values ​​in the previous year, the median sales values ​​(of houses, apartments, multi-family homes, and any type of residential properties) had an increase of more than 40% in their values. On average, properties only take 40 days to sell, and they often sell for more than their actual or listed value.

What helps this growth boom in the Jacksonville real estate market has to do with the economic growth of the city in general. If most people do well, then more people will be able to save and buy homes. Also, if there are more job offers, good education and good quality health services, then there will always be more new people who want to come from other cities.

An industry that is on the rise in IT work, and in Jacksonville several companies are looking for employees with that experience or job training. In addition, with the increase in remote work from home, people are prioritizing living in cities with more contact with nature, whether it is the beaches or the rivers, Jacksonville has it all.

Jacksonville Average House Price (Median Home Price)

The median home value in Jacksonville is just over $303,000. Remember that the median home value is obtained by an average between the different properties for sale and those that were sold, so in reality, you will find higher or lower prices, depending on the type of house, area, or what the seller, in particular, is looking for.

To give you a more in-depth picture of the real estate market in Jacksonville, we will tell you a little more about the values of the other types of properties. That of the single-family homes reaches an average of $325,000 and that of the condo-coop goes down to $220,000 making them quite cheap. You can also find apartments for less than $200,000, and land suitable for residential construction starting at $10,000.

Proposed Residential Building Projects in Jacksonville

While Orlando and Miami are the tourism stars of the state of Florida, Jacksonville is also on the rise. With the popularity of their local football team and its great scenery, more and more tourists choose this city to enjoy the state without the need to be in a place as crowded as other cities.

See also  Building Cost Per Square Foot in City of Anniston, Alabama, USA - Class 2 Semi Luxury Single Family Homes, 4 Corner House.

This means that a large number of the constructions that are being planned or are already being developed have to do with the world of tourism. From buildings for hotels, or also some condominiums that function as small motels. There are even some buildings that are prepared and will be put up for rent on Airbnb.

However, there are other constructions that have to do with the world of residential real estate. On the one hand, some small buildings (less than 10 stories) or shared housing are being built in the university areas of Jacksonville. This is due to the fact that more and more students are coming, so it is a big business for temporary rentals.

There are also other residential house projects. Again these are a bit further from the city center, and closer to the best school districts or the most renowned hospitals. This is a trend that occurs throughout the country since good education and health are privileged.

Newly Built home in Jacksonville - 8359   HEWITT ST, Jacksonville, FL 32244 - 3 Bed and   2 Baths with 2 Attached Garages on Gross   Floor Area 1,205 sqft - Built in 2022 - Price   $269,900

Newly Built home in Jacksonville – 8359 HEWITT ST, Jacksonville, FL 32244 – 3 Bed and 2 Baths with 2 Attached Garages on Gross Floor Area 1,205 sqft – Built in 2022 – Price $269,900

Building Costs Per Square Foot for Single Family Homes in the City of Jacksonville (FL), USA

Building costs are -2% below the national average in the City of Jacksonville in Florida.

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in Jacksonville City ranges from $337.99 per sqft to $318.13 per sqft, with the average being $398.88 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 2 – Semi Luxury Single Family Homes

The building cost per square foot for semi-luxury private homes in Jacksonville City ranges from $205.42 per sqft to $314.87 per sqft, with the average being $242.41 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 3 – Best Standard Single Family Homes

The building cost per square foot for best-standard private homes in Jacksonville City ranges from $132.79 per sqft to $201.69 per sqft, with the average being $155.47 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

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Class 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in Jacksonville City ranges from $96.91 per sqft to $148.62 per sqft, with the average being $114.37 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 5 – Average Standard Single Family Homes

The building cost per square foot for average-standard private homes in Jacksonville City ranges from $78.66 per sqft to $120.47 per sqft, with the average being $92.76 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 6 – Minimum Standard Single Family Homes

The building cost per square foot for minimum-standard private homes in Jacksonville City ranges from $62.04 per sqft to $95.10 per sqft, with the average being $73.19 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

 


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