Jacksonville residents face higher housing costs with rent, utilities both rising

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Jacksonville residents face higher housing costs with rent, utilities both rising
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  • 📰 Florida Times-Union
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Almost a third of those who took the survey respondents said inflation or the high cost of living was the most pressing economic issue to them and their family. That number was 8% in 2021.

Almost a third of Gallup survey respondents — 32% — said inflation or the high cost of living was the most pressing economic issue to them and their family, up from 8% in 2021. Another 10% mentioned the price of gas or energy — up from just 1% in 2021.Nationally, gasoline and power bills now account for about 34% of the monthly budgets for those in the lowest income bracket, up from 31% last year, according to the National Energy Assistance Directors Association.

A residential customer using 1,000 kilowatt hours saw a month-over-month increase of 8.5% in their energy bill, before city and state taxes and fees, and a year-over-year increase of about 26.5%.Overall median rent in Jacksonville is $1,623, a year-over-year increase of about 11.9%, just under the national average increase of 12.

The effect of rent per square foot is highest in the Jacksonville area downtown and at the Beaches, Rutherford said, and rents are going up in other areas in Northeast Florida as well. conducted by Realtor.com, about 60% of respondents say that the increasing cost of rent and other housing expenses are causing financial strain for their household.

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