Is the Jacksonville vacancy rate decreasing?
There is a vast array of homes for sale in Jacksonville, as indicated by the city's home vacancy rate. According to The Business Journals' On Numbers analysis of U.S. Census Bureau data, the city ranks number 11 among the 100 largest metro areas in terms of the worst vacancy rates as of 2010.However, the city has shown gradual improvement in the past few years.
Jacksonville features a vacancy rate of 15.8 percent - one of seven Florida metros to earn a spot on the list, the news source notes. While Jacksonville's economy might appear bleak to some, the city could bring new business to the region soon.
The Jacksonville Port Authority (JAXPORT) has a plan to bring new job opportunities and revenue to the Sunshine State, thanks to the launch of a new business in the area.
"I can only say to you this is new business coming to Jacksonville," JAXPORT spokesperson Nancy Rubin told WOKV. "We are talking about bringing Florida cargo in through Florida, so we bring the jobs and dollars to this state."
JAXPORT plans to develop a one-of-a-kind intermodal transfer container at Dames Point. Additional economic initiatives could help attract more people to Jacksonville, which could help lower the city's vacancy rate.