Rental Market Trends – June 2025

Rental Market Trends – June 2025

Jacksonville & North Florida Rental Market Report

Presented by Nest Finders Property Management

Message from Our Broker

As we move into the peak summer leasing season, it’s critical to capitalize on the momentum while also navigating the unique challenges of today’s market. Though activity is picking up, renters are more selective, inventory is growing, and pricing power is no longer one-sided.

At Nest Finders, we believe success comes from staying data-driven, pricing proactively, and ensuring every home is positioned to lease—not just listed.

Active Listing Data

Over the past year, the North Florida rental market has experienced a noticeable shift in inventory patterns. Total active listings climbed through late 2024, peaked in November, and have gradually declined into May 2025. New listings dropped steadily into fall, surged in January (a common turnover period), and have slowly risen again since. Rented homes remained relatively steady but continue to lag behind new listings, suggesting a surplus of available properties. 

This growing gap between new inventory and rented homes may lead to longer vacancy times and increased competition among landlords through the summer.

Listing Price & Days on Market (DOM)

Data from the past 12 months shows a widening gap between asking prices and actual rented prices. The active listing price and new listing price have both trended upward—reaching their highest point in May 2025. Meanwhile, the average rented price continues to trail behind, showing that while landlord confidence may be growing, renters still have leverage.

Over the past 12 months, the average number of days a rental home sits on the market in North Florida has followed seasonal trends—starting around 38 days in early 2024, peaking at 55 days in January 2025, and gradually declining to 43 days by May. While market activity is improving, it's important to note that homes are still averaging nearly a full week longer on the market compared to this time last year. As we enter the busy summer leasing season, this highlights the importance of competitive pricing, strong marketing, and professional presentation to minimize vacancy time.

Sold-to-List Ratio

This graph shows the Sold-to-List Ratio, or how closely rental homes are being leased compared to their original asking prices. Over the past year, the ratio dipped notably in late summer and fall 2024, reaching a low of just above 94% in October, indicating that many properties were renting at significant discounts. However, the trend began reversing in early 2025, steadily climbing to nearly 97% by May. 

This chart suggests that landlords are either pricing more accurately or negotiating less as demand strengthens. While we’re still not back to full-price leases across the board, the narrowing gap shows improving market confidence and stronger renter competition heading into summer.

Market Summary

The North Florida rental market has shown steady movement over the past 12 months, with active and new listing prices trending upward, especially as new inventory surged in May 2025. Despite the increase in asking prices, actual rented prices have consistently remained lower, showing that renters still hold some negotiating power. Homes are taking longer to lease than they were this time last year, currently averaging 43 days on the market—almost a full week longer than in early 2024—though this has improved since the January peak of 55 days. Meanwhile, the sold-to-list ratio, which dipped to just above 94% last fall, has rebounded to nearly 97%, indicating that tenants are now paying closer to asking prices. Overall, the market is strengthening heading into summer, but success still hinges on smart pricing, strong presentation, and timing.

What Can Owners Do to Move Vacancies Faster?

If you’re facing longer vacancies, here are strategies we know work:

• Lower rent incrementally every 7–10 days until activity increases
• Offer move-in specials: one week free rent, $550 off move-in, however most residents just want lower rents.
• Allow pets: pet-friendly listings receive more inquiries and lease faster
• Update marketing: ensure photos are bright, clear, and recent
• Respond quickly to all leads—ideally within hours
• Improve curb appeal: mow the lawn, clean the front entry, pressure wash the driveway, add a fresh coat of paint, update appliances.
• Be flexible with lease terms: shorter leases or month-to-month options can attract more renters

Remember: the cost of sitting vacant often outweighs the cost of a small rent adjustment. Holding out for an extra $100/month can cost over $1,500 in vacancy loss if the home sits empty for six weeks.

Final Thoughts

Now more than ever, renting your property requires a smart mix of pricing, presentation, and timing. At Nest Finders, we help owners make informed decisions, market homes strategically, and reduce vacancy time—especially during competitive seasons like summer.

Serving Jacksonville, St. Augustine, Ponte Vedra, Riverside, and surrounding communities.
Visit www.nestfinders.com or contact us today for a free property evaluation.