One strong indicator that the city of Jacksonville is experiencing a surge in new residents is the simple fact that its population density is 202 percent higher than the state. This makes it the largest city by population in Florida, with current census data showing that there are 823,652 people calling Jacksonville home.

With an estimated 1,102 people per sq. mile you might think that Jacksonville would feel overcrowded, but thanks to its miles of beaches and barrier islands there are plenty of places for residents to go and get away from the busy city. Due to its younger population, the median age being 35.4, Jacksonville has a vibrant and energetic feel that is helping to attract foreign and domestic businesses.

The ratio of men and women in the city is basically equal, and 51 percent of the population is married. Caucasians comprise 60.48 percent of the population, with African Americans comprising 30.52 percent. A small 4.30 percent of the city’s residents are a part of the Asian community.

The poverty level in the city is 8 percent higher than the national average, and annual median income is 9 percent lower than the rest of the country. The city also reported a credit score of 650, according to Credit Karma in 2012, which is 10 points lower than the national average. When all of this is combined it is easy to see why a large number of Buy Here Pay Here auto lots are appearing in the metro area. For residents struggling with low credit scores these dealerships are often their only option when they are ready to finance a vehicle.

http://www.bizjournals.com/jacksonville/news/2012/04/11/jacksonville-credit-scores-credit.html

Jacksonville can be an expensive city to live in and this helps to explain why a large percentage of residents have over $6,000 in credit card debt. Not only is this a bad financial strategy to have, it can also have an adverse effect on your FICO score. Lower FICO scores will make it difficult to receive approval for a loan, even one that comes with a higher interest rate. For the residents dealing with credit card debt often their only recourse when they need a new vehicle is to take advantage of the financing offered at a Buy Here Pay Here auto lot.

The reasons for residents’ high amount of debt is generally due to the high cost of living in Jacksonville and lower than average median salary.

and it can be even lower if only one adult in the home is working. When this is compared to a median home price of $157,200 or average rent at $920 per month it is easy to see why residents might be having problems making ends meet.

http://www.areavibes.com/jacksonville-fl/cost-of-living/

With the average cost of rent 9 percent higher in Jacksonville than the rest of the country, and home ownership down it is evident that the city is still dealing with many of the financial problems that were a direct result of the housing market collapse in 2008. The resulting recession forced many of the city’s residents and businesses to seek bankruptcy protection, and by 2010 there were an average of 953 filings every month.

The nationwide recession not only affected the housing market, but also the city’s tourism industry. When this was combined many smaller businesses in the city were forced to file for bankruptcy. The same was also true for residents as businesses closed and jobs were lost. Many found it impossible to make their mortgage and other loan payments on time, and were forced to seek what little protection they could get from filing for Chapter 7 or Chapter 13. While this did provide residents with a little relief from crushing financial obligations it also left a black mark on their credit history. This is now making it difficult for many of the city’s residents to be approved for a car loan from a traditional lending institution.

Recent reports are indicating that the worst is finally over, and that the city’s economy is starting to recover. New businesses are moving into the downtown and metro areas, and statistics released in 2012 show that Chapter 11 and Chapter 13 filings are at the lowest point since 2007. While this doesn’t mean that everyone’s credit score will also start to recover, it is good news for the city. This also doesn’t mean that it is easy to get approved for a low interest loan, and in many cases a Buy Here Pay Here lot is still the best option.

Even as the city starts to show signs that it is recovering financially there are indications that residents are still struggling.

The lower earnings are being blamed for the high poverty level, along with the unemployment rate.

The unemployment rate for Jacksonville is currently listed at 7.3 percent, compared to the national average of 6. This is surprising considering the number of new businesses moving to the area, but experts point out that the majority of these companies are also bringing their own people in to fill the available jobs. This only leaves the minimum wage positions open for residents, and the low pay is usually not enough for them to make ends meet.

For residents fortunate enough to find a job after the mass layoffs in 2008 they often run into the problem of finding affordable and reliable transportation. Even with proof of income many residents are still being turned down at traditional lending institutions, and this has led to an increase in businesses at many of the city’s Buy Here Pay Here lots.

http://www.areavibes.com/jacksonville-fl/employment/

Bankruptcies are not the only thing having a negative impact on Jacksonville residents’ credit scores, repossessions are also making it difficult for people to get the financing they need to purchase a reliable vehicle. According to data gathered by Experian the state of Florida has the 5^th highest vehicle repossession rate in the county, and this includes the greater Jacksonville area.

The vehicle repossession rate is listed at 1.16 percent, which is twice as high as the national average. Not only is it disconcerting to discover that your vehicle has be towed away, it will also have a detrimental effect on your credit score. It is not uncommon for banks to automatically deny approval for any loan with a repossession on the record, and this is particularly true when the applicant is seeking financing for a vehicle.

Even some of the Buy Here Pay Here lots are reluctant to offer financing, especially if the repossession was recent or there was more than one vehicle involved. In some cases having a vehicle repossessed is unavailable, especially after the recent recession. For those residents willing to pay the higher interest rates, and with a little time and research, most find that they can get the approval they need from a Buy Here Pay Here lot especially if they are able to show proof of employment.

There have been several unique events that have helped to shape Jacksonville which includes the additional of a professional football team in 1995 and a booming housing industry that lasted until late 2007. Unfortunately the city’s economy took a strong hit when the housing market collapsed and the resulting recession forced many businesses and residents to file for bankruptcy.

The recession left many outlying neighborhoods undeveloped which resulted in plummeting property values. By the end of 2008 it was not uncommon for mortgage payments to be higher than the actual value of the property, and many residents found that their only option was to let the bank foreclose on their home. This did create a small boom in the rental market, with former homeowners now looking for apartments, but it was not enough to keep the city’s formerly strong economy afloat.

The nationwide recession also resulted in fewer visitors and the city does rely largely on tourism. Many small businesses were forced to close their doors and file for bankruptcy, which resulted in mass job losses that the city is still trying to recover from.

In the last couple of years there have been signs that the city’s financial future is turning around. Markets are more stable, and new businesses are moving into the area. While the job market is still sluggish, analysts are hopeful that this will soon change. Once this does, hopefully there will be fewer residents looking for a bad credit auto loan.

With seven bridges spanning the St. John’s River and the downtown business district there is truly not another city like Jacksonville. The beaches are only minutes away, along with the historic Mayport neighborhood. Shopping, fabulous restaurants, museums and nightclubs can also be found downtown, along with several of the city’s businesses. Its port is home to several international companies, along with being a major transportation hub. Many corporations choose to expand to the downtown area, and in 2011 it attracted even more attention from businesses when it was named the 3^rd least expensive city for companies to relocate their headquarters to.

Along with the vibrant downtown there are several business districts located in the metro area. The Riverside and Avondale neighborhoods are known for antiques, cafes and eclectic boutiques, and more small businesses seem to be opening in the area. This is also helping to bring more jobs to the neighborhoods that were hit hard during the recent recession.

A few minutes outside of downtown is the historic neighborhood of San Marco. It is well known for its assortment of fine restaurants, along with art galleries and specialty boutiques. The suburb of Springdale was recently named one of the “best comeback neighborhoods” and this is seen as a sign that the city and its residents are recovering financially, and the same is also true for the Northside and Airport communities which are both seeing an increase in business.

These are only a few of the business districts that make up the greater Jacksonville metro area, and all the signs seem to point that they are coming back stronger and starting to thrive.

http://www.visitjacksonville.com/areas/

While there is public transportation in the downtown district and limited service to the airport, residents that live in the metro area need a reliable vehicle if they want to run errands and get to work on time. Along with the lack of transportation the weather also makes it difficult to get around. The long summers are hot and sunny, and while this is perfect for surfing and swimming it is not ideal for walking.

The rapid population growth in recent years has led to expansion in the suburbs and a transportation system unable to keep up. A growth management task force was formed before the 2008 recession, but even its members have had difficulty keeping up with the recent population boom. The buses that are running are typically overcrowded, and their operating schedules often do not meet residents’ needs.
Residents are hopeful that the task force will be able to meet the growing need for public transportation outside of the downtown business district, but until then they will need a vehicle if they want to be able to get around in the city.

Not only is the public transportation score basically nonexistent, this Florida city is also not designed for walking or biking. The walkability score, according to Redfin is a dismal 26. While this score is not the lowest for a large U.S. city, it does indicate that

There are plenty of walking trails in each of the city’s neighborhoods. San Marco and Riverside in particular have small business districts that are designed to be convenient for walkers, but this only applies to residents that live in the immediate area. If you live in Springdale and need to go downtown you will quickly find that a car is a necessity.

The bike score is only slightly higher at 39, and while there are a few trails in outlying neighborhoods overall this city is not designed for biking. City developers have promised to improve this and with construction resuming in some neighborhoods residents are hopeful that within the next few years Jacksonville might not be so dependent on cars to get around.

There are 263 primary and secondary schools in Jacksonville with an overall rating of 5 out of 10 for the district. The immediate school district for the city is Duval, with Nassau and Clay serving some of the neighborhoods in the metro area. Like most cities the schools outside of the city have slightly higher ratings. Nassau has received a rating of 8 out of 10, and Clay is slightly lower at 7.

Camden County School District is also nearby and rated 7, while St. John’s has received a 9 out of 10. The schools also vary in ratings in the Jacksonville district with those closest to downtown typically coming in a little lower. The main reason for the discrepancy in the ratings is due to the amount of tax dollars allotted to each neighborhood. Since the city does not practice “cross-busing” each suburb is responsible for funding its on schools.

This means that areas where income and property values are higher will have more money going towards their public school system, unlike poorer neighborhoods where there is a very limited amount of tax dollars being used to fund education.

Unfortunately this is not only affecting students while they are in school, but also later in life. Many graduate from the lower ranked districts without the education they need to secure higher paying jobs. Without the income needed to afford the average cost of living Jacksonville residents will continue to accrue debt and find it difficult to secure a low or high interest car loan even from a Buy Here Pay Here lot.

Even though the city is seeing strong economic growth and new jobs are opening up many residents are still finding it difficult to make ends meet. Food and clothing can be expensive, especially if there is only one income in the household. Larger families often cannot afford the basic necessities, and there is also a problem with credit card debit.

Thankfully city and state officials understand that residents do need help and there are several programs in place. Along with assistance for rent, utilities, food and clothing, residents can even take advantage of free credit counseling programs. Not only will they learn how to manage their money and start paying off their debt, some of these programs will also show them how to rebuild their credit scores. With improved credit residents will find it easier to secure a car loan.

Some of the phone numbers that residents can take advantage of include,

• NFCAA: (904) 632-1469
• Jacksonville Urban League: (904) 721-9788
• Salvation Army: (904) 356-8641

http://www.needhelppayingbills.com/html/jacksonville_florida_assistanc.html

Hospital and other medical bills are some of the most common reasons that residents fall into debt, and this can have a devastating effect on their credit scores. Unpaid medical bills can stay on a credit report for up to 7 years, according to Experian, and make it difficult for them to be approved for a low or high interest auto loan. The cost of prescriptions can also quickly add up, and make it impossible for residents to pay all of their bills on time. To ensure residents get the health care they need without ruining their credit there are some places that can go for help.

Some of these phones numbers include,

Angel Aid: (904) 398-6888

Christ the King Clinic: (904) 253-1640

There are several fun activities to keep residents and visitors happily occupied. During the NFL season fans can watch the Jacksonville Jaguars play, along with two nearby college teams. The city is also home to the largest urban park system in the country, where visitors can even catch a glimpse of several rare species of birds. There are also miles of beaches and waterways that provide almost year round opportunities for swimming, surfing and fishing.

When you are in the downtown area there is always the symphony, along with several top rated restaurants to try. Residents and visitors can also enjoy plenty of shopping, along with stops at local galleries and museums. Each neighborhood often has its own festivals throughout the year, which are always advertised in local newspapers.

Jackson, Florida has plenty to offer its residents. Businesses are returning to the port and downtown areas, and the population is growing at near record numbers. Even though there are more jobs opening up many residents are still finding it hard to meet the relatively high cost of living, and this means that they need to ask themselves a few questions if they are thinking about applying for an auto loan. One of the most important is whether they can afford the monthly payments, especially if they have bad credit. If there is even the slightest doubt then the best advice is to wait until they are more financially stable. If you are ready to take on a car payment you might want to consider applying at one of the city’s Buy Here Pay Here lots, especially if you are one of the thousands with less than perfect credit.