Thinking you need to keep renting because you can’t afford to buy? Think again — with Jacksonville’s shifting housing market and several financial assistance options available, owning a home might be more within reach than you realize.

Is Renting Actually Cheaper Than Buying?

In Jacksonville, the cost of homeownership is getting more competitive. The latest data shows:

• Median home sale price dropped to about $300,990 in June 2025 — a 3.1% decrease year-over-year.

• Thanks to this price drop and growing seller incentives, median mortgage payments have fallen, with Redfin reporting a decline of about 4.2%, bringing the average monthly payment near $2,482.

• By comparison, median rent in Jacksonville is roughly $1,606 per month, while a median 30-year mortgage payment is around $1,885 — not a huge gap when you consider the long-term equity building.

Once you factor in building equity, tax benefits, and long-term stability, the financial case for buying becomes even stronger.

Jacksonville’s Down-Payment Assistance Programs

Here’s how the city and county are helping first-time buyers bridge that down-payment gap:

1. Headstart to Homeownership (H2H) Program — Duval County

   • Offers up to $50,000 in down-payment and closing cost help via a zero-interest second or third mortgage, forgiven over 15 years.

   • Available to first-time buyers who meet income limits (e.g., up to ~80% AMI), live in the home, and contribute at least $500 plus a $375 inspection fee.

2. City of Jacksonville Homeownership Pilot Program

   • Provides up to $25,000 toward down payment or closing costs for qualifying first-time buyers purchasing homes up to around $335,000.

3. Housing Services Programs

   • Jacksonville’s Housing Services department offers a variety of homebuyer support including down-payment assistance, closing cost subsidies, and mortgage principal reduction based on income and household size.

Add to that, there are additional workforce or other external down-payment programs linked here: https://www.crossviewrealty.com/financing-1

What About Financing?

• Mortgage Rates in Florida remain elevated, generally ranging from 6.6% to 7.1% on a 30-year fixed loan as of mid‑2025.

• Though rates are high, the market is rebalancing—inventory is increasing and sellers are more motivated, improving negotiating power for buyers.

Tip: Reach out to a lender before you decide to rent—knowing what you qualify for and what programs you’re eligible for can shift your outlook.

What If You Still Need to Rent?

No problem—that’s a smart short-term choice for many. But if renting still feels like a must, consider:

• Checking out rentals managed by our sister company, CrossView Property Management: https://www.crossviewpropertymanagement.com/available-homes.

• Exploring additional rental options and tips here: https://www.crossviewpropertymanagement.com/other-rentals.

Renting gives you valuable flexibility while you get pre-approved, save more, or build credit—just make sure it’s part of a bigger plan toward owning someday.

Why Buying Can Work for You

Advantages of BuyingWhy It MattersEquity BuildingYou gradually own more of your home with every payment.Assistance ProgramsGrants and loans can significantly reduce upfront costs.Market Shifts in Your FavorPrices and mortgage payments have dipped, giving buyers an edge.Long-Term StabilityFixed monthly payments, personalizing your space, and steady housing costs over time.

Final Takeaway

If renting is your default because buying “feels impossible,” it’s time to get the facts. With Jacksonville home prices easing, buyer-friendly conditions, and strong down-payment assistance programs, owning may be within your reach sooner than you thought.

Ready to Explore Your Options?

Contact CrossView Realty at 904-503-0672 or email info@crossviewrealty.com to:

• Speak with a trusted lender about what you qualify for.

• Learn which assistance programs you may be eligible for.

• Start comparing potential purchase scenarios—even if you’re not ready just yet.

And remember, if you do need to rent in the short term, our sister company CrossView Property Management has rentals available—visit their site to browse current listings.