Growth in Fort Myers and Cape Coral, Florida

4 Replies

Hello BP Community,

Wallethub just named Fort Myers, Florida the fastest-growing city in the USA.  Cape Coral was ranked number 24.  

Wallethub Story

Having only lived for extended periods in two very different cities, Portland, Maine and Los Angeles, I'm not sure what to expect with the projected influx of people, growth, and what that brings.  I've lived in the Cape Coral/Fort Myers area for six years and was asked yesterday by Wink News what the effects might be on the housing market.  As a Realtor, that much I understand.  The gist of the broader story related to potential positives and negatives of such growth and I was curious to hear what BP members have experienced in their own communities that have undergone rapid growth.  

Wink News Story

Where I grew up and spent my twenties, in Portland, Maine, I don't think the population changed at all; thank you six months of winter.  And Los Angeles was always a huge metropolitan behemoth the 15 years I lived there.  I'm curious to hear any first-hand accounts of the good, the bad, and the ugly of rapid population growth.  Obviously things like congestion and crime are potential concerns, but what else should we be looking forward to down here in SW Florida as far as opportunities go?  And what about investment strategies?

Thanks!

@Peter Davis People from high COL states and income tax states will be looking to flee that situation. States with no income tax will be the recipients of much of that migration. Fort/Myers Cape Coral is still high on the affordability scale compared to east coast cities (South Florida). If the economy keeps clicking adding population will help improve existing housing stock as cash rich retiree’s move into the area from high costvreal estate northeast states. We may be infor a very ectended transfer of wealth to this area. I think all of the indicators are in place for continued growth. Just my two cents.

@Mike Terry

Good insights Mike.  As well as retirees, I think we'll see more younger professionals and families come down too.  I'm already seeing this occur with a number of my buyers.  The cost of living, especially compared to other more expensive cities and states, makes SW Florida attractive and gives people the breathing room to explore different careers and lifestyles.  That's certainly my case having lived in LA, good paying job as a project manager for the LA Housing Authority, but unable to buy a home, way too expensive.