Our Florida Research Team has released our 2018 Florida Population Reports, which predict growth patterns in major markets throughout the state.
The Jacksonville population is expected to increase by 1.9 percent, from 1.5 million to more than 1.6 million year over year.
Over the next several years, Jacksonville is expected to outperform the state and country in terms of growth. Factors contributing to this growth include an influx of tourism, military spending, the expansion of infrastructure and an increasingly skilled workforce. Jacksonville also has a considerably low unemployment rate at 3.4 percent.
The increasing population will give a boost to several key areas of the economy. Home values in Jacksonville will average $245,830 in 2018, which is a notable increase from the year before.
The market is also expected to see $28 billion in retail sales this year, compared to $23 billion five years ago.
Florida’s overall population is expected to increase from approximately 21 million to 21.5 million in 2018. In the next five years, it will reach 23.3 million.
See the full Jacksonville Population Report below and read the rest of the Florida Population Reports here.
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