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Jacksonville Mortgage Facts

Jacksonville Introduction

Jacksonville is the county seat of Duval County, Florida. Jacksonville is located on the St. Johns River and the Atlantic Ocean, 25 miles south of Georgia, in northeastern Florida. It is two hours and fifteen minutes north of Orlando, and two hours and thirty minutes east of Tallahassee, the state capital.

Jacksonville is the most populous city in the state of Florida. It is also the largest city in terms of land area in the United States. According to 2005 Census Estimates, Jacksonville has a population in excess of 768,000 people. This represents an increase of over 50,000 people from the 2000 census.

Salinas Neighborhoods

The City of Jacksonville is informally divided into four sections:

  1. Downtown, the urban center of the city, which is on the the north bank of St. Johns River. In Downtown is one of the oldest residential neighborhoods in Jacksonville known as Eastside. Eastside is home to residential communities, the Port of Jacksonville, some industrial sites, and Alltel Stadium. One of Jacksonville's historic communities, Springfield, is also located a half a mile north of downtown. Springfield is a mix of homes that have been restored, and those in need of restoring.
  2. Southside, which is everything between the St. Johns River and the Intracoastal Waterway. There are many neighborhoods in the Southside, including Arlington, Baymeadows, Beachwood, Brookview, Deerwood, East Arlington, Fort Caroline, Glynlea, Grove Park, Lakewood, Mandarin, Sandalwood, San Jose, San Marco, St. Nicholas, Southside Estates, and Windy Hill. Baymeadows is relatively affluent and home to upscale apartments and residential developments.
  3. Northside, which is everything north of the St. Johns and east of New Kings Road. Many of the Northside neighborhoods were once towns of their own. Northside communities include Biscayne, Biscayne Terrace, Dinsmore, Downtown, Durkeville, Garden City, Grand Park, Hart Estates, Highlands, Lake Forest, La Villa, New Berlin, North Jacksonville, Oceanway, Sheerwood, San Mateo, Turtle Creek and Yellow Bluff.
  4. Westside, which is everything west of the St. Johns River and south of New Kings Rd. Neighborhoods in the Westside include Argyle, Avondale, Cedar Hills, Confederate Point, Dinsmore, Jacksonville Heights, Lake Shore, Marietta, Maxville, Murray Hill, Normandy, Paxon, Ortega, Venetia, Lackawanna, Sweetwater, Pickettville, Riverside, Whitehouse and West Jacksonville. One of the newest and largest neighborhoods on the Westside is Argyle. Avondale is an historic community with homes dating from the early 1920s.

Jacksonville Real Estate

In 2005, the US Census Bureau estimated that there were 346,108 housing units in Jacksonville, Florida. 64.2% of these were owner occupied, which is only slightly below the average for the US as a whole. 9.4% of Jacksonville's housing was unoccupied or vacant, which was very close to the national average.

Over 75% of Jacksonville's housing has been built since 1960. Nearly 50% was built in the period 1960 through 1989. 16.8% was built in the 1990s, and 11.1% has been built since. Two thirds (75.8%) of these homes are four to seven rooms in size. 14% of Jacksonville homes have eight or more rooms. 70.7% have two or three bedrooms, while 18.2% have four or more bedrooms. Electricity is the predominant form of heating for over 90% of Jacksonville homes.

An owner occupied home in Jacksonville had a median value of $144,600 in 2005, which was below the national average. This was up substantially from the 2000 census when the median value was $87,800. According to the National Association of Realtors (NAR), the median price of a home in Jacksonville was $180,400 at the end of Q4, 2006 - still below the national average. At that same time, the median price of a condo was $153,500.

Median owner costs for a Jacksonville, Florida home were $1,114 per month as of 2005, below the national average. 75% of Jacksonville's owner occupied homes had a mortgage in 2005. 24.6% had a second mortgage or an equity line or loan as well.

Jacksonville Property Taxes

The Duval County Tax Collector's office collects the property taxes for Jacksonville and Duval County. The Duval County Property Appraiser determines the value of taxable property in Jacksonville. In 2005, the median real estate tax bill for an owner occupied house in Jacksonville was $1,302.

Jacksonville Schools

The City of Jacksonville is served by Duval County Public Schools (DCPS). Duval County Public Schools have over 160 schools that serve over 124,000 K through 12 public school children. Four DCPS schools have been recognized with the ASCA Model Program (RAMP) designation. 8 DCPS schools were also recognized by the Florida Department of Education as Top Performing Schools. According to Newsweek magazine, four of the nation's best high schools are DCPS schools (Stanton 5th, Paxon 28th, Douglas Anderson School of the Arts 446th, and Mandarin 846th).

Jacksonville is also home to two International Baccalaureate Diploma Programme high schools, the Stanton College Preparatory School and the Paxon School for Advanced Studies. There is also has a magnet high school devoted to the performing arts, and two Catholic high schools.

Colleges and universities in Jacksonville include: the Art Institute of Jacksonville, Brewer Christian College, the Edward Waters College, Florida Coastal School of Law, Florida Community College at Jacksonville, Florida Technical College, Jacksonville University, Jones College, Logos Christian College, Trinity Baptist College, and the University of North Florida.

Jacksonville Economy

Jacksonville is home to the Port of Jacksonville, which is the largest deep water port in the southern United States and the second largest port on the U.S east coast. As such, transportation and distribution are large contributors to the Jacksonville economy. Jacksonville boasts 8 Fortune 500 company headquarters, including companies such as Armor Holdings, CSX, Fidelity National Financial, Landstar Systems, and Winn-Dixie Stores

Median family income in Jacksonville, Florida is slightly below the national average. As of 2005, the median family income in Jacksonville was $52,138.

Jacksonville and Florida Mortgage and/or Real Estate Organizations

Jacksonville Mortgage Statistics

CategoryValue
Homes With No Mortgage24%
With A Mortgage76%
First Mortgage Only59%
Second Mortgage or Home Equity Loan16%
Second Mortgage Only10%
Home Equity Loan Only6%

Jacksonville Housing Expenses

CategoryValue
Owner Costs as % of Income18.3%
Median Real Estate Taxes (2000)$938

Jacksonville Household Size

CategoryValue
Total Occupied284,492
1-Person Households26%
2-Person Households32%
3-Person Households18%
4-Person Households14%
5-Person Households6%
6-Person Households2%
7+-Person Households1%

Jacksonville Housing Stock

CategoryValue
Median Year Built1975
Median Year Built (Owner Occupied)1975
Median Year Built (Renter Occupied)1976

Jacksonville Home Heating

CategoryValue
Using Utility Co. Gas Heat4%
Using Bottled/Tank Gas Heat6%
Using Electric Heat84%
Using Oil Heat5%
Using Coal0%
Using Wood Heating0%
Using Solar Heat0%
Other Heating0%
No Heating1%

Jacksonville Housing Size

CategoryValue
No Bedrooms0%
1 Bedroom3%
2 Bedrooms17%
3 Bedrooms59%
4 Bedrooms18%
5+ Bedrooms2%
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