HOUSING

Housing

Diversity and affordability are two themes running throughout the Jacksonville regional housing market. Whether it is a home on the National Historic Register in the Jacksonville Historic District, a studio loft in Knollwood Retirement Center, a moderately priced apartment in the new Stonebridge Apartments, or the numerous subdivisions sprouting up amidst the farmland of Morgan and Scott counties.

"The market ranges from several hundred square feet to more than 3,000 square feet with a variety of housing styles available in an urban or rural setting," said Brad Krueger, President of the Jacksonville Area Association of Realtors. "We have everything from turn of the century homes to new construction."

Home sales in Jacksonville and South Jacksonville rose by 11.2 percent in 2003 - doubling the state's rate of 5.6 percent - with 337 houses sold compared to 303 in 2002. Approximately two-thirds of those houses sold were priced less than $100,000. Meanwhile the median price for a home in the Jacksonville area only increased 5.8 percent in 2003 to $80,200 - the state average jumped 6.7 percent to reach $172,500.

The affordability of the Jacksonville regional housing market is reinforced by the plethora of local financing readily available for little or no money down, Krueger said.