Not to be confused with Naples, Italy, the city of Naples located on the Gulf Coast in the state of Florida has it’s own, unique features. With a 10 mile long beach on the coast of the Gulf of Mexico, Naples beach was voted the best beach in America in 2005 by the Travel Channel. The beach is renowned for its pristine white sand and its cleanliness.
Things to do in Naples, Florida
The picturesque waterfront offers some of the most beautiful sunsets, ideal if you want to get the perfect picture. Also, the city of Naples is home to several important land reserves. If you love wildlife and the type of landscape that comes along with it, then Naples has something to offer in this regard as well. Golfing, boating, and fishing are a way of life in Naples, so be prepared to see many people who engage in these types of outdoor activities.
Is Naples, Florida even worth considering?
In 2012 Naples was rated as the city with the sixth-highest income per household in the USA and second-highest proportion of millionaires per household in the USA. About 12,000 households were holding millionaires in 2014.
Rated as one of the wealthiest cities in the country, you might think that the cost of living in Naples is quite high. As with all things, there are pros and cons to living in Naples, however, the cost of living might be one of the downsides for some people.
People you can expect to find in Naples, FL
The population of the city stands at around 22,000 people with a median age of 65 years old. Although, Naples is a safe city with a family-friendly environment you will hardly find any kids around the area. The local population consists of mostly older adults and seniors.
This is mostly because the city seems to be attracting many older adults who are looking for a peaceful place to retire. The retirement communities in the area are very attractive and offer a comfortable living along with top-end facilities.
Real estate market in Naples, Florida
As mentioned before, the costs of living are quite high in Naples. Like all cities, housing is the highest expense of them all and things are no different in Naples. The median property value in Naples from 2016 to 2017, was reported at around $850,000, which is almost 4 times higher than the national average.
The real estate market in Naples is not very competitive and it is a buyers market. There are more homes listed for sale than buyers out on the market. Most recent data from major listing sites place the median home value for 2019 at around $350,000 from 2019. The median list price per square foot in Naples is around $200.
For rentals, we have an average rent price of about $1,500 for the year 2019 and the average apartment size is about 930 square feet. The size can vary between studio apartments which are the smallest type of units or three-bedroom apartments that are more generous with spacing. Around 95% of apartments in Naples rent at a price situated between the range of $1,000 to $2,000.
If you are interested in buying property around Naples, make sure you contact one of the real estate agents in Naples FL for some useful information about the area.
Here is the real estate forecast in Naples, Florida
Naples stands out as one of the best real estate investment opportunities and there are a couple of reasons for that. The long terms investments are really successful in the area and this is noticeable nationwide. Let’s see what the real estate forecast has in store for us in the city of Naples, Florida
According to Zillow, home values have declined by about 1% over the past year. The real estate forecast for next year predicts an appreciation in home value of about 2.7%. On the other hand, homes listed for sale on Redfin has seen a 4.3% increase over the last year and price per square foot have seen an appreciation of 2.3% since last year.
In terms of rent, the forecast shows that the price has remained relatively the same over the past year but it’s going to see an increase over the next year. If we showcase the real estate trend over the past ten years, we can see a real estate appreciation of over 82%. This means on average, homes appreciated at a rate of 6% annually, placing Naples in the top 10% nationally for real estate appreciation.
Top communities require top dollar in order to live comfortably and Naples is no exception. Here you can find a real estate market that has seen high appreciation over the years. Our real estate forecast shows that home prices will continue to increase over the years. Therefore, the real estate market in Naples, Florida offers perfect opportunities for investors to make some serious profit.
What do you think about our real estate forecast for Naples, Florida? What your predictions for the years to come in terms of the housing market in Naples?