For investors in Jacksonville, how saturated is the JAX rental market?

[Craig Bauer]

I have (4) MD properties and have been monitoring JAX and surrounding areas for a few years for investment properties first with a longer term goal as a retirement destination.  At a glance, there seems to be a large amount of unoccupied rentals on the market.  One data point is the relationship of Open Rentals vs. Population by a few Zips compared to my MD Zips.  Is JAX too saturated?

State	Zip Code	Population	Open Rentals (Zillow)	Ratio
FL	32218	53,473	177	0.33%
FL	32097	15,616	46	0.29%
FL	32258	26,759	67	0.25%
FL	32244	57,369	142	0.25%
FL	32221	27,918	61	0.22%
MD	21234	69,752	32	0.05%
MD	21237	30,059	12	0.04%
MD	21014	36047	7	0.02%

[Marcella Page]

Hi Craig,

I wouldn’t say it’s saturated. It depends on the area you invest in. I get several calls inquiring about rental properties however the criteria for some of those ppl to qualify holds them back. In addition, those ppl don’t qualify to purchase a home at the time.