It’s much less expensive than you might think to live in Naples.
Housing, usually the biggest chunk of your living expenses, is more affordable than it’s been in recent history. Prices are 45 percent below where they were at their 2005-2006 peak in the Naples market.
Today, the median sale price for a home in Naples is approximately $226,500 (slightly above the national median, which is $194,900) and the average sale price is $385,897 (Sunshine Multiple Listing Service as of February 28, 2013). Compare that to where Naples’ sales prices were in 2008: $284,500 was the median sale price and $500,102 was the average sale price, and, yes, Naples is once again affordable to most.
The closer you get to the beach, the more expensive the homes will be. Additionally, homes within exclusive gated communities, centered on a golf course with a ton of amenities, will also come with a higher price tag and higher association fees.
But throughout Naples, plenty of neighborhoods offer a variety of housing styles at affordable price points. A two-bedroom, two-bath condo in a perfectly nice neighborhood can be found for around $150,000, just as a spacious three-bedroom, two-bath single-family pool home can be found for around $350,000. These affordable options are usually only five to ten miles away from the beaches.
Compare these prices to what you can buy around the country:
- $550,000: A one-bedroom condo in downtown Boston
- $700,000: A 1940s two-bedroom home in Los Angeles
- $800,000: Roughly five acres of land to build a home in Far Hills, New Jersey
- $1 million: A three-bedroom home in Washington, D.C that dates back to the 1800s
- $400,000: A newly constructed townhome in Houston, Texas
- $300,000: A two-bedroom condo in downtown Minneapolis
- $650,000: A one-bedroom, one-bath condo in Long Island, New York
But, don’t wait too long. The real estate market is getting stronger and prices are beginning to rise as demand increases.