Fort Myers, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fort Myers Neighborhoods Since 2000




Fort Myers, FL Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Fort Myers Housing Market Information

With 74,013 people, 25,095 houses or apartments, and a median cost of homes of $113,201, house prices in Fort Myers are solidly below the national average.

Large apartment complexes or high rise apartments are the single most common housing type in Fort Myers, accounting for 44.02% of the city's housing units. Other types of housing that are prevalent in Fort Myers include single-family detached homes ( 35.04%), duplexes, homes converted to apartments or other small apartment buildings ( 9.54%), and a few row houses and other attached homes ( 9.47%). 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. 41.20% 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 ( 37.01%), and between 1940-1969 ( 17.90%). There's also some housing in Fort Myers built before 1939 ( 3.88%).

Vacant housing appears to be an issue in Fort Myers. Fully 31.17% 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

Homes have actually lost value in Fort Myers over the last then years, as home values have seen a decline of 21.44% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Fort Myers home appreciation rates at 3.51%, which equates to an annual appreciation rate of 14.80%.

Appreciation rates are so strong in Fort Myers that despite a nationwide downturn in the housing market, Fort Myers real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fort Myers appreciation rates continue to be some of the highest in America, at 12.21%, which is higher than appreciation rates in 97.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fort Myers. Fort Myers appreciation rates in the latest quarter were at 3.51%, which equates to an annual appreciation rate of 14.80%.

Importantly, NeighborhoodScout’s exclusive research found that Fort Myers's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Florida, our data show that Fort Myers's latest annual appreciation rate is higher than 80% 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:
$113,201

Fort Myers, FL HOME PRICES

Value Range
> $1,405,000 0.4
$1,054,001 - $1,405,000 0.3
$703,001 - $1,054,000 1.9
$562,001 - $703,000 2.2
$422,001 - $562,000 5.1
$281,001 - $422,000 10.0
$141,001 - $281,000 23.7
$70,001 - $141,000 32.7
$0 - $70,000 23.5

Very Low for FL
Low for Nation

Value Relative to Nation Value Relative to State
69.442165709598 82.2649572649573

Number Of Homes And Apartments:
25,095

Fort Myers Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
85.07% 3.63% 7 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,103 / per month

Homeownership Rate

Homeownership
Owners 44.04
Renters 55.96
Vacant 31.17

Housing Market Details

 

Age of Homes

AGE OF Fort Myers HOMES
2000 or Newer 41.2
1970 - 1999 37.0
1940 - 1969 17.9
1939 or Older 3.9

Types of Homes

TYPE OF Fort Myers HOMES
Single-Family 35.0
Townhomes 9.5
Small Apt. Buildings 9.5
Apt. Complexes 44.0
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Fort Myers HOMES
No Bedroom 1.80
1 Bedroom 13.11
2 Bedrooms 45.47
3 Bedrooms 32.27
4 Bedrooms 5.86
5 or more bedrooms 1.50