FIRST COAST APARTMENT LIVING

For those looking for a new place to live, work and play, the First Coast is one of the best options in Florida. The amazing weather, beach access and bustling city with job opportunities are all reasons that newcomers are moving to the area. The current population in 2022 is 1.34 million people, which is an increase of 1.31 percent in the last year. With this population growth, the residential rental market has expanded greatly causing a higher need that is increasing apartment development.

multifamily increasing by 518 additional apartment units in the last year according to NAI Hallmark’s report. According to the Jacksonville Daily Record, Duval County had a population increase of 24,000 residents in the last two years. Nassau County had a population increase of 5.27 percent, St. Johns County had an increase of 5.06 percent, Clay County had a population increase of 3.68 percent and Baker County had a population increase of 4.92 percent. The influx in population has partially been due to the increase in jobs, with Jacksonville’s unemployment rate around 2.8 percent as of October 2022, which is lower than the long-term average of 5.51 percent. In relation to other parts of Florida, Jacksonville’s average price per unit and rental rates are lower across the board.

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Advantages of Apartment Living

Throughout the First Coast there are many apartment options available to check all the boxes on wants and needs for your new home. In the area there are apartment complexes with studios, one-, two-, three- and even some four-bedroom apartments that can accommodate single renters or even families.

Below are some reasons as to why First Coast residents have decided to rent an apartment versus buy a house. There are many benefits to owning your own home, but there are also many advantages to apartment living.

Price: One of the first things you’ll keep in mind when looking for an apartment is the financial aspect of renting. With many apartment rentals, it is possible that rent may be more affordable than a mortgage. You won’t have to worry about additional fees such as homeowners’ association fees, property taxes, homeowners’ insurance and down payments. Most of the time, utility costs are lower due to the size of the unit.

Maintenance: Long gone are the days of a leaky roof or broken appliance! Instead of scrounging around for a toolbox and attempting to figure out a plumbing or A/C disaster, you can have peace of mind knowing that maintenance and repairs are covered by landlords or property managers at an apartment complex. Apartments also include landscaping maintenance, so you won’t need to be out in the heat mowing a lawn or pulling weeds. This gives you peace of mind, time to relax and enjoy your apartment!