Fort Myers, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Fort Myers, FL Housing Market Trends

With a population of 87,103, 30,265 total housing units (homes and apartments), and a median house value of $187,467, Fort Myers real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Fort Myers, accounting for 45.05% of the city's housing units. Other types of housing that are prevalent in Fort Myers include single-family detached homes ( 37.08%), duplexes, homes converted to apartments or other small apartment buildings ( 8.85%), and a few row houses and other attached homes ( 7.31%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Fort Myers primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Fort Myers has a mixture of owner-occupied and renter-occupied housing.

Fort Myers homes and real estate are some of the newest in America. 44.94% of Fort Myers's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Fort Myers real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 35.33%), and between 1940-1969 ( 16.22%). There's also some housing in Fort Myers built before 1939 ( 3.51%).

Vacant housing appears to be an issue in Fort Myers. Fully 25.08% of the housing stock is classified as vacant. Left unchecked, vacant Fort Myers homes and apartments can be a drag on the real estate market, holding Fort Myers real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Fort Myers Home Appreciation Rates

In the last 10 years, Fort Myers has experienced some of the highest home appreciation rates of any community in the nation. Fort Myers real estate appreciated 94.05% over the last ten years, which is an average annual home appreciation rate of 6.85%, putting Fort Myers in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fort Myers definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Fort Myers's appreciation rate, at 6.12%, has been at or slightly above the national average. In the latest quarter, Fort Myers's appreciation rate has been 1.57%, which annualizes to a rate of 6.41%.

Notably, Fort Myers's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Fort Myers's latest annual appreciation rate is lower than 60% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fort Myers differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fort Myers - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fort Myers real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$187,467

Fort Myers, FL HOME PRICES

> $1,264,000
1.3%
1.3%
$948,001 - $1,264,000
0.5%
0.5%
$632,001 - $948,000
3.6%
3.6%
$506,001 - $632,000
3.7%
3.7%
$379,001 - $506,000
9.2%
9.2%
$253,001 - $379,000
14.6%
14.6%
$126,001 - $253,000
31.8%
31.8%
$63,001 - $126,000
25.7%
25.7%
$0 - $63,000
9.6%
9.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Low for FL

Value Relative To Nation

Number Of Homes And Apartments:
30,265

Fort Myers Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
120.77% 3.84%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,349 / per month

Homeownership Rate

Owners
47.3%
47.3%
Renters
52.7%
52.7%
Vacant
25.1%
25.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
44.9%
44.9%
1970 - 1999
35.3%
35.3%
1940 - 1969
16.2%
16.2%
1939 or Older
3.5%
3.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
37.1%
37.1%
Townhomes
7.3%
7.3%
Small Apt. Buildings
8.9%
8.9%
Apt. Complexes
45.0%
45.0%
Mobile Homes
1.6%
1.6%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.7%
3.7%
1 Bedroom
13.6%
13.6%
2 Bedrooms
40.3%
40.3%
3 Bedrooms
33.2%
33.2%
4 Bedrooms
7.3%
7.3%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES