Jacksonville, FL Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview

Jacksonville's multifamily market navigated a late-cycle supply environment with improving fundamentals in Q1 2026, with trailing 12-month absorption of 4,943 units nearly doubling the 2,666 units delivered, marking four consecutive quarters of positive net absorption. Average effective rents stood at $1,464, reflecting a 1.0% annual decline that has moderated as the supply pipeline contracts, while occupancy held at 90.2%, down 40 basis points year-over-year. The supply cycle is winding down meaningfully, with completions falling 68% year-over-year, the active pipeline contracting 30% to 2,661 units (2.1% of inventory), and trailing 12-month starts at just 1,531 units. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Jacksonville multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.