21% of Homes in Southwest Florida Are 2nd Homes, 5th Most In The Country
In what should come as a surprise to no one here, Southwest Florida is home to a lot of Snowbirds. 20.97% of the homes in Southwest Florida are second homes.
The team at Madison Trust Company “analyzed data from U.S. Census Bureau’s 2021 American Community Survey and ranked all of the combined statistical areas of the U.S. on the percentage of homes there that are meant just for seasonal, recreational, or occasional use. These aren’t vacation home rentals, they are homes that are strictly used by the homeowner as a second residence to live in, or use, when they choose.”
That’s a remarkable number. 1 in 5 homes here in SWFL are someone’s “other house, or vacation house”. It’s facts like that which definitely raise our property values and continue to make living here unaffordable for many. The Northport area isn’t much better with 14.53% of it’s homes being second homes. Miami is just under 8% and about 6 and a half percent of the homes in Orlando are vacation homes. Nationwide, 2.39% of all residences in the United States are second homes.
Here’s a look at where we stack up.
By MadisonTrust.com
Will Hurricane Ian affect Southwest Florida second homes?
That’s some data that isn’t in yet. But judging by the crowd at Fort Myers Beach and on the roads last weekend, the snowbirds are here. There’s a lot of rebuilding to be done on the barrier islands. However, who’s buying isn’t yet known. Certainly, Southwest Florida is changing.
Here's 20 Cities in Florida Where You can Live on $3,000 a Month
Inflation has crunched everyone’s budget. But the dream of moving to Florida is as strong as ever. Based on the latest census, cities in Florida are seeing both young and old flocking to the sunshine state. According to the latest report by the U.S. Census Bureau, from July 1, 2021, to July 1, 2022 Florida’s population increased by 1.9 percent. In the census, Florida is the third most populous state in the union and saw an increase of 416,754 people over that one year span. That’s a lot of people coming to our state, and that’s what pushed up rents. But they are coming down a little.
Vacancy rates in some Florida cities are creeping up to near 5%, which puts pressure on what landlords can charge. And that’s helping some.
GOBankingRates “analyzed data from Sperling’s Best and the U.S. Bureau of Labor Statistics to determine the average cost for utilities, healthcare, groceries and one-bedroom rents in cities throughout Florida. Cities were then ranked based on their total costs in these four categories, the percent of the population that was 65 and older and the cities’ livability scores, as determined by AreaVibes.” In the data they excluded cities with low livability scores (ie high crime).
The data was originally compiled for seniors looking to retire, but there’s a strong wave of work-from-home families moving here too. So let’s make this a little more open, but remember for the monthly expenditures – this is for one-bedroom rentals. And bare bones spending. I’m in Estero and I couldn’t imagine living on less than $5K a month. But can you live on just $3,000 a month without selling a kidney? You can.
So if you’re looking at cities in Florida for retirement, or looking for a place to move to work from home, here’s the list.
And because things live forever on the internet, the list was compiled on December 18th, 2022. Life moves fast. These lists can change quickly. Some of these places have already passed the 3K/month threshold.
And one other thing to remember if you’re moving to Florida. We drive very fast on the interstate.
Joe Winner spends his days combing through memes and off beat stories to bring you the side of Florida not always seen.
