Jacksonville is the largest city in Florida, both in terms of population and sheer size, it is seen as one of the best markets in the US for investing in cash flowing properties. Jacksonville is the largest city in America in land mass terms, 850+ square miles and has a population of 1.4 million, making it the 40th largest MSA (Metropolitan Statistical Area) in the country. Jacksonville population growth since 2000 has been 24.1%, which is higher than Miami and Tampa. Housing Trends Magazine has predicted that Jacksonville’s population will grow by 50-100% over the next ten years. There are 3 Fortune 500 companies headquartered in Jacksonville (CSX Corporation, Fidelity National Financial and Fidelity National Information Services).With a strong manufacturing, logistics and banking base the Jacksonville unemployment rate is only 5.5%, which is one of the lowest in the US.
Jacksonville’s job sector continues to support the progression of the housing market. In fact, Jacksonville was recently ranked by WalletHub as the 49th best city to find a job – the second highest city in Florida. The Department of Economic Opportunity’s data from business payrolls shows growth in just about every major industry sector in Northeast Florida. The strongest growth is in the leisure and hospitality sector. Jacksonville facilitates two major United States Navy bases and the Port of Jacksonville, Florida's third largest seaport.