JACKSONVILLE, Fla. – Within the 5 years for the reason that COVID-19 pandemic paused a lot of the world, a examine confirmed the price of residing in Jacksonville has sunk under pre-COVID ranges.
The identical can’t be stated for the remainder of the nation in keeping with the examine from GOBankingRates.
The examine includes prices like the typical mortgage, transportation and utility prices. It additionally accounts for inflation and compares the 2019 numbers to 2025.
The 2019 annual complete value of residing adjusted for 2025 inflation is $47,083.
The 2025 annual complete value of residing is $44,598.
The share change in complete annual value of residing from 2019 to 2025 is -5.3%.
A spokesperson stated this comes down to a couple key elements.
They stated Jacksonville’s housing prices went from being 12% under the nationwide common to about 20% under.
An identical pattern follows transportation prices.
All the pieces from fuel to insurance coverage within the space went from 17% above the nationwide common to simply 1%. Then wages went up about 30%.
“So a number of cities realized fast actual property progress pre-2020 adopted by value corrections as a result of a altering demand. So that may be one issue. One other is simply the general pandemic associated shifts. We noticed individuals leaving cities in favor of suburbs, which then impacts the demand for residence costs and transportation value, which once more is one other one which decreased in Jacksonville,”
The examine stated the largest lower in the price of residing was in Philadelphia at slightly below 20%.
San Diego had the biggest enhance at 20%.
Lots has modified in 5 years. Share your quarantine tales with us under.
Copyright 2025 by WJXT News4JAX – All rights reserved.
