The Cape Coral-Fort Myers area was ranked fourth nationally as a retirement destination in a study just released by Portfolio.com. Our region was second in Florida only trailing Bradenton-Sarasota in the Sunshine State. This designation is a significant coup for our battered real estate market as it validates the overwhelming sense of value many are seeing in the market.
Portfolio.com rated each area in the six categories below. The highest scores in each category went to the markets described in parentheses.
- Seniors as share of total population—Percentage of all residents who are 65 or older. (Highest scores: largest percentages.)
- Median age—The market’s midpoint age, with half of all residents being older and half being younger. (Highest scores: oldest medians.)
- Seniors born out of state—Percentage of all seniors who were born in a different state from their current state of residence. (Highest scores: largest percentages.)
- Incoming seniors—Percentage of all seniors who moved to their current county of residence from another county (or nation) during the previous 12 months. (Highest scores: largest percentages.)
- Difference in out-of-state births—Comparison of the percentages of seniors and younger residents (64 or younger) who were born out of state. (Highest scores: largest advantages for seniors.)
- Difference in incoming rates—Comparison of the percentages of seniors and younger residents who moved to their current county from another county (or nation) during the previous 12 months. (Highest scores: largest advantages for seniors.)
Here in the trenches of Southwest Florida, we are seeing a steady flow of pre-retirement baby boomers from Northern cold-weather climates looking to jump on a retirement home while our prices are really low. A large percentage of these clients are paying cash and viewing the purchase as an asset relocation from a stock portfolio to value-priced Southwest Florida real estate. On average over the past year, our clients are spending just under $200K on their Fort Myers area properties. The housing style is fairly evenly divided between town homes, condos and single-family homes with a significant majority located in gated communities.
If you are considering an investment in a retirement home in Southwest Florida, here is a comprehensive Fort Myers area real estate resource to begin your search from the comfort of your home. Hopefully, this resource will help you evaluate different housing options from afar so that your trip down to view properties is most productive.