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Originally Posted by Lakelander
90.
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BTW this massive house on ~2 acres, riverfront, would probably sell for $5-6M, which is the high water mark for real estate in the city. The same house would probably go for $8-$12M if it were oceanfront at the beach there (Ponte Vedra Beach), so you can live like you would in Palm Beach or Southampton or Belvedere Island for 1/10 the price! For that reason there are actually far more "million dollar houses" in Jacksonville than most cities in the 1-2 million person range. I think ultimately that's what's alluring about the market for certain corporate relo prospects (but the demographics and skilled laborforce for the under 35 set are pretty dismal, which requires cheap housing for them, too). Arguably the biggest thing going for Jacksonville is cheap housing; without it there is little to nothing to set it apart from larger Orlando and Tampa. As of right now all three metros are in the $130s for median home price, well below the likes of Nashville, Charlotte, Miami and other competing cities. SF metro is approaching $600K for median home price (including Oakland). NYC and DC are in the $300s across their metros.