Jacksonville, Florida Continues to See Impressive Population and Economic Growth in 2023
Jacksonville, Florida is one of the fastest growing metro areas in the United States. According to the attached 2023 Jacksonville Market Guide from Cox Media Group, the city adds approximately 84 new residents per day, with population projected to grow 1.4% annually through 2027.
Several factors make Jacksonville an attractive location for corporate expansions and relocations, including its convenient coastal location, warm climate, reasonable cost of living, and business-friendly government. The city’s status as an intermodal transportation hub with a major seaport and international airport also makes it a key distribution center.
Economically, Jacksonville saw the 4th strongest growth nationally in 2021 and continues rapid job creation in 2023. Major local industries include financial services, manufacturing, information technology, and healthcare. Tourism also provides an economic boost, with Jacksonville hosting major events like the PLAYERS Championship PGA golf tournament.
Demographically, Jacksonville skews younger than other major Florida metros like Miami and Tampa, with a median age of 36. The population is 72% white, 20% black, and 8% Hispanic. 65% of residents own their home. Employment is 48% full-time and 11% part-time.
For marketers, the Jacksonville DMA provides access to nearly 1 million consumers with over $12 billion in annual retail spending power. The market is served by major radio broadcast groups like Cox Media and iHeartMedia across formats ranging from news talk to hip hop. As Jacksonville grows, it provides great opportunity for brands looking to connect with this vibrant region.
Jacksonville Ranks as a Top City for Business, Living and Tourism
The city of Jacksonville, Florida continues to earn accolades highlighting its strengths across various categories. As the largest city by area in the contiguous United States, Jacksonville stands out for its business climate, quality of life, affordability and more. Here are some of the latest rankings and recognition the city has garnered:
– Largest Urban Park System – Joint agreements give Jacksonville the biggest city park system in the U.S.
– Major Seaport – Four modern ports, including a new cruise terminal, cement Jacksonville as an international shipping hub.
– Top City to Live – Jacksonville cracks the Top 25 in U.S. News’ 2021 Best Places to Live list.
– Fastest Growing Economy – The metro’s 2021 GDP growth ranked 4th highest nationally according to Stessa.com.
– Booming Population – LinkedIn found Jacksonville had the 2nd highest population increase in the U.S. in 2021.
– Rising “Supernova” City – Urban Land Institute named Jacksonville a top growth city along with Austin and Nashville in 2022.
– Hot Housing Market – Zillow ranked Jacksonville as the 2nd hottest housing market behind only Tampa in 2022.
– Below Average Cost of Living – Jacksonville is the only major Florida metro with living costs under the national average per the 2022 composite index.
– Major Military Presence – A quarter of Jacksonville households host an active military member, the 3rd highest rate in the country.
– Hub for Sports & Events – From the NFL Jaguars to the PLAYERS Championship PGA tournament, Jacksonville is a sports mecca.
With accolades like these, it’s clear Jacksonville offers a compelling package for residents, businesses and visitors alike. The city presents opportunity across sectors as it continues rising to prominence.
Moving to Jacksonville, Florida
If you’re thinking about relocating to Jacksonville, check out full Jacksonville Relocation Guide to fully understand this vibrant community. And, if you’re in need of a new home, we have a unique system to help you locate and purchase your new home remotely! We can help you find homes for sale in Jacksonville and all the nearby communities, like the new construction homes for sale in Nocatee or living in a coastal community like Atlantic Beach.
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