Homelessness rises as rents skyrocket
From an article on LinkedIn, I notice that there are more pan handlers as well in and around Jacksonville:
Even with unemployment at a 50-year low, homelessness is on the rise in American cities as the cost of housing ramps higher. The Department of Housing and Urban Development reports that the homeless population grew 0.3% this year, a second annual increase after seven years of declines. The backdrop is skyrocketing rentals in the biggest metropolitan areas: New York and Los Angeles, where a quarter of the nation’s homeless live, have seen rents increase 20% and 30%, respectively, since 2012.
Is anyone seeing people priced out of their homes in Jacksonville? The Median house price, for the recent NEFAR data Nov 2018 is $225,000. 30 year rates are about %0.75 higher than this time last year.
@Jack Bobeck From a property manager and rental perspective here. I have seen rents rise obviously and to be honest I do think it's affecting the quality of people that we are able to get into a home. With lower more affordable rental options, I have seen tenants stay longer at a particular property and even take care of it like it was their own at times. With these higher rents lately I have found it harder and harder to find qualified tenants because of income requirements. At the end of the day, vacancy is what we are fighting and if you have properties that are vacant, maybe lower the rent and it will be easier to find quality people.