The millennial population, born between 1981-1996, is the largest group of homebuyers, according to the National Association of Realtors.
Likewise, the Jacksonville Business Journal reported on Jacksonville emerging “as one of the nation’s top places for millennials to buy houses”.
The Business Journal article was based on an analysis published by SmartAsset. The analysis examined and ranked where millennials are purchasing homes. Their ranking is based on the percentage of millennial homebuyers for each city in the year 2022.
Jacksonville’s Statistics
Jacksonville came out in the top 10– ranking at number 7 overall.
According to the analysis, there are 457,2111 millennials in Jacksonville. That’s 27.3% of the city’s population.
In 2022, a total of 24,518 of those millennials purchased a home. Therefore, 5.4% of the millennial population in Jacksonville bought a home in 2022.
Furthermore, the median income for Jacksonville millennials was $98,000.
As for the homes the millennials purchased, the median property value was $375,000 and purchased at a median interest rate of 4.8%.
The Other Top 10 Cities
Which cities have more millennial home buyers?
Raleigh, NC came in number one. Followed by Nashville, Denver, Charlotte, Indianapolis and Phoenix. The final 3 cities in the top 10, coming in after Jacksonville, were Virginia Beach, Cincinnati and Austin.
The Popularity of Jacksonville
This study comes as no surprise to us. We see and feel the growth of our city on a daily basis.
The state of Florida is booming. Even within a rapidly growing state, Jacksonville still tops growth charts on both state and national levels. We’ve broken this down in a previous article.
Jacksonville’s popularity is due in part to its affordability. Jacksonville has so much to offer, but without the same price tag as some other popular metropolitan areas.
Within the city of Jacksonville, Ponte Vedra Beach, 32082, has been ranked as the fastest growing zip code. Along with population growth, we also see tremendous commercial growth. There are a lot of new things coming to Jax that we’re excited about.
Fluid Realty
The Fluid Realty Team is Jacksonville’s top real estate group and local boutique brokerage. We provide a full-service experience with the best realtors in the area. Our expertise includes luxury beach real estate within the four Beaches of Jacksonville, FL: Atlantic Beach, Neptune Beach, Jacksonville Beach, and Ponte Vedra Beach.
