JACKSONVILLE, Fla. — The American dream of owning a home has become more of a fleeting hope since the COVID-19 pandemic started five years ago.
The University of North Florida surveyed more than 700 registered voters across Duval County, and learned the cost of housing was listed as the number one concern.
“It speaks to the level of pain our community is feeling over affordable housing,” Jacksonville Mayor Donna Deegan said on Tuesday in response to the survey’s findings. “So we really have to continue to address that, and this gives us a great impetus to continue to do that.”
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According to Zillow, the median cost of a home has gone down 2.8% in Jacksonville since last year, with rental costs also down year-over-year on average. However, Timothy Newman, the president of North Florida Mortgage Brokers, told Action News Jax that dip doesn’t do much to relieve the high price increases seen over the past few years.
“We had years of 20, 30% appreciation and a lot of that hasn’t baked out of the market yet,” Newman explained. “It’s called housing inflation. So, when we talk about they’re ticking down, three, 4%, they’re still up in a lot of consumers’ minds.”
Newman told Action News Jax the solution is simple: enabling developers and adding supply to the market. But Duval residents pointed out that it is easier said than done, especially in the beach communities.
“Where are you going to build more at the beach?” asked Atlantic Beach homeowner Mary Cloutier. “There’s no more room, there’s not a lot open around here anymore at the beach that you could afford to do that.”
Mayor Deegan also told Action News Jax the city will work to continue to prioritize adding affordable housing and housing programs across Duval, helping homeowners stay afloat.
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