JACKSONVILLE, Fla. – In the five years since the COVID-19 pandemic paused much of the world, a study showed the cost of living in Jacksonville has sunk below pre-COVID levels.
The same can’t be said for the rest of the country according to the study from GOBankingRates.
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The study involves costs like the average mortgage, transportation and utility costs. It also accounts for inflation and compares the 2019 numbers to 2025.
The 2019 annual total cost of living adjusted for 2025 inflation is $47,083.
The 2025 annual total cost of living is $44,598.
The percentage change in total annual cost of living from 2019 to 2025 is -5.3%.
A spokesperson said this comes down to a few key factors.
They said Jacksonville’s housing costs went from being 12% below the national average to about 20% below.
A similar trend follows transportation costs.
Everything from gas to insurance in the area went from 17% above the national average to just 1%. Then wages went up about 30%.
"So a lot of cities realized rapid real estate growth pre-2020 followed by price corrections due to a changing demand. So that can be one factor. Another is just the overall pandemic related shifts. We saw people leaving cities in favor of suburbs, which then affects the demand for home prices and transportation cost, which again is another one that decreased in Jacksonville,"
The study said the biggest decrease in the cost of living was in Philadelphia at just under 20%.
San Diego had the largest increase at 20%.
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