It is significantly cheaper in Jacksonville to buy than to rent. Its price-to-rent ratio of 8 is primarily due to the declines in home values that have taken place in this foreclosure hot spot. Unfortunately, Jacksonville’s job market was as hard hit as its real estate market. Its 10.3 percent unemployment rate is even higher than the already-high national average.
Median Sales Price: $95,000
Property Address: 4501 Glen Kernan Parkway East, Jacksonville, Fla.
Bedrooms: 5 | Bathrooms: 6.5 | Square Feet: 5,900
List Price: $1,895,000
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