A new study conducted by Smartasset.com shows that incomes in the greater Jacksonville are are currently outpacing the increase in rents. The research measured result in the 50 largest metro areas, ranking them by the proportion of household income devoted to rent. The Jacksonville market saw a four percent decrease, giving the city the fourth largest decrease. However, despite this decrease, the study found that Jacksonville is still rent burdened because rental costs for households continue to exceed 30 percent of gross income. According to the study, from 2012 and 2015, rents in Jacksonville went from an average of $10,632 per year to $11,556 per year, which is an increase of 8.7%.
