Is It Expensive To Live In Fort Myers Florida?

The state of Florida, also known as the Sunshine State, is the second most visited state in the USA, right next to California. Spanning from luxurious estates to impressive coastline cities, the state of Florida has something for everyone. The vast area is home to various amusement parks, beaches, natural wonders, and vibrant cities.

One of these cities is the city of Fort Myers, Florida. Located in Lee County, Florida, the city holds a population of about 75,000 people and it is the county seat. Fort Myers is a gateway to the southwest Florida area and a major tourist attraction. The city is named after Abraham Myers, a general of the Confederate State Army.

The median age of the population is about 40 years and many consider it the perfect place to spend your childhood as well as your retirement years. The city holds amazing beaches, rich history with some of the most well known historical figures, and other means of entertainment. With all that being said, many consider the city of Fort Myers, Florida a good place to live.

But when you decide to relocate to a place you have to find out how affordable it is. After you decided that you want to move to a new city you need to get in touch with one of the best real estate agents in Fort Myers FL for a good home deal. With that being said, let's find out how expensive it is to live in Fort Myers, Florida?

What are the costs of living in Fort Myers, Florida?

Currently, Fort Myers is seeing an unemployment rate of about 3.7%, which is lower compared to the US average of 3.9%. Fort Myers has also seen a 1.9% job market increase over the past years. Thanks to the prosperous economy of the area it is predicted that the job market growth in the next decade will be close to 40%.

In terms of cost of living, Fort Myers, Florida sits just 4% below the national average which makes it very affordable. The average annual income of a Fort Myers resident is about $23,000, which is lower than the national average that is situated at $28,000. The median household income per year in Fort Myers is around $37,000, lower than the national average of about $59,000.

 On the other hand, housing is very cheap in Fort Myers, and it is about 15% cheaper than the national average. The median home value in Fort Myers is around $190,000 and the median price per square foot is about $150. Of the total homes listed in Fort Myers, 85% are for sale and 15% are for rent.

The average rent in Fort Myers, FL is about $1,280 and it has seen a 3% increase over the past year. Most commonly you would find apartments for rent between the price range of $1,000 to $1,500. About 68% of apartments are within this rent price range. In Fort Myers, about 43% of housing units are occupied by renters and 56% are owner-occupied households.

With a city that holds many attractions and entertainment at affordable prices, how could you not love Fort Myers, FL for what it has to offer? The vibrant city is full of life and it is a great place to live, and grow a family and enjoy a peaceful and quiet life. Away from the crowded metropolitan area, this laid back city is both a gorgeous and safe city to live in.