“The Jacksonville MSA is displaying indicators of stabilization following a risky prior 24-month interval. Regardless of experiencing decrease rental charges in comparison with a 12 months in the past, the MSA has maintained a formidable common annual hire progress of 9.1% since Q1 2022. Moreover, with the MSA’s inhabitants rising by one other 2.2% in 2023 and sustaining its place because the #1 vacation spot for internet migration for the second consecutive 12 months, we anticipate a reversal within the present occupancy pattern as a result of diminishing growth pipeline. Looking forward to 2024, the outlook for the Jacksonville MSA stays sturdy and is poised to proceed its out-performance relative to different markets.”
