Jacksonville hit harder than South Florida

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Single-family home prices in Jacksonville fell to a median of $184,600 in the fourth quarter of 2007, down 3 percent from the year before. Jacksonville’s numbers fall well below Miami and Fort Lauderdale’s respective median prices of $358,400 and $344,000. Apartment rents in the Jacksonville area are expected to come down slightly from 2009 to 2012, as are retail rents, while the price of office space is expected to level out, according to real estate research firm Property & Portfolio Research.