Cost of Living/Retirement in Jacksonville, Florida

Duval County: The cost of living in Duval is 13% lower than the Jacksonville average and 14% lower than the national average.  Duval housing is 31% lower than the national average.

Jacksonville’s current median home value hovers around $156,000, up by 11% from last year with a projected increase of an additional 5% over the next year. Jacksonville’s housing market currently favors sellers, therefore homes are on the more expensive side. 

The average rent in Jacksonville has only increased by 2.68% in the last three years and closely mirrors that of our nation’s average. Jacksonville’s vacancy rate is higher than the U.S. average, hovering at 7.68%. Now is a great time for renters! If you are considering renting in Jacksonville, familiarize yourself with current state rental laws in order to protect yourself.  Knowledge is power!

FLORIDA STATE RENTAL LAWS:

Required Landlord Disclosures in Florida,

Florida Security Deposit Limits & Deadlines,

Florida Tenant Rights to Withhold Rent,

and Florida Landlord-Tenant Laws

DUVAL COUNTY: The cost of living in St. Johns rose 1.5% from one year ago, yet it is still 7.8% lower than the national average.  The largest increases were found in transportation, food and housing. The average cost of independent living in Saint Johns County is $3,475/month. This is higher than the national median of $2,485. 

ST. JOHNS COUNTY: Housing expenses are 19% higher than the national average and the utility prices are 8% lower than the national average. Transportation expenses like bus fares and gas prices are 3% lower than the national average.

Real Estate

Home prices are typically higher in St. John’s versus in Duval.  St. Johns has also experienced substantial appreciation in property values at roughly 9% in the past year. St. Johns County is expected to gain an additional 9%+ appreciation in 2021.

Property Taxes: Due in March and considered delinquent if paid on or after April 1. Property taxes which are paid in advance are eligible for discounts up to 4% applicable to taxes paid in November. Late payment is subject to penalty.

Homestead Exemption: Legal Florida residents owning AND living on a property simultaneously are eligible for a homestead exemption up to $50K, applicable to the first and third $25K assessed value of the primary residence. The first $25K is applicable to all taxes, including school district taxes and the second exemption applies to assessed valued above $50K and ONLY to non-school taxes. Go to your local property appraiser’s office to apply for an exemption between January 1 and March 1 of the same year in which you seek 

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