Jacksonville Beach, Florida, a coastal city in Duval County with zip code 32250, has experienced significant changes in its housing market over the past decade. From 2013 to 2022, the city saw a notable increase in homeownership rates, rising from 60% to 67%. This trend coincided with a substantial rise in average home prices, which grew from $258,405 in 2013 to $597,681 in 2022, representing a 131% increase. The consistent upward trajectory in both homeownership rates and average home prices suggests a strong correlation between the two factors, indicating a growing preference for homeownership despite rising costs.

The relationship between federal interest rates and homeownership rates in Jacksonville Beach follows a generally inverse pattern. As interest rates remained low between 2013 and 2016 (ranging from 0.11% to 0.4%), homeownership rates increased from 60% to 62%. This trend continued as interest rates gradually rose, with homeownership reaching 68% by 2020 when rates dropped to 0.38%. The low interest rate environment likely contributed to increased affordability and encouraged more residents to purchase homes.

The percentage of renters in Jacksonville Beach decreased from 40% in 2013 to 33% in 2022. Despite this decline, average rent prices showed an overall upward trend, increasing from $1,529 in 2013 to $1,709 in 2022, a 12% rise. This trend suggests that while fewer residents are renting, those who do are facing higher costs. The city's growing population, which increased from 21,558 in 2013 to 23,583 in 2022, may have contributed to the upward pressure on rent prices despite the declining percentage of renters.