Construction reports for Research Group have just released new data identifying cities and counties, buying cities and counties where homes and blends are cheaper, and places where purchase premiums are surged.
The report covers 343 US cities and over 1,000 counties, covering a detailed breakdown of purchases and rental premiums at each location, monthly home costs, and home prices purchases.
This report compares the average numbers in the United States and Jacksonville.
US-wide statistics:
Purchase vs rent premium/discount: 21.0%
Median monthly mortgage payments: $2,382
Median monthly rent: $1,968
Median home price: $355,328.
The analysis shows that only 32 of the 343 cities are more affordable to buyers than renters. Jacksonville is not one of them.
Here’s an overview of your purchase and rental data for Jacksonville, Florida:
Premium/Discount on Purchases and Rentals: 17.4%
Median monthly mortgage payments: $1,885
Median monthly rent: $1,606
Median home price: $287,628
Purchase vs. Rentals in Jacksonville:
Real estate analysts say since 2021, low interest rates and rising household savings and income have made many Americans buy real estate. However, high competition and low supply have created a boom in the residential real estate market, bringing US home prices high. As home prices rise and interest rates rise and market cooling, more buyers are being priced, increasing the competitiveness of the rental market and increasing rental prices.
However, by 2022, the equation has shifted. The combination of rising home prices and rapidly rising interest rates has led to more affordable options being rented in most markets. Since reaching record lows in January 2021, mortgage rates have more than doubled and home price growth has declined, but median home prices remained around 33% higher over the same period. As of January 2025, typical monthly mortgage payments for US homes (including property taxes) are currently 21% higher than typical monthly rents.
Rentals are currently dominant.
