With its pristine nine-mile coastline dotted with white-sand beaches, luxury resorts, fine dining restaurants, and golf courses, Naples is the ultimate Florida beach getaway, frequented by visitors and locals. And while the Gulf of Mexico city continues to draw a record number of travelers, Naples is also now the best place to live in the country, according to U.S. News’s latest ranking.
The website ranked Naples fourth for desirability and third for its strong job market and high household income.
“Naples residents enjoy a high quality of life–the city ranks No. 4 for college readiness and No. 12 for crime – which could explain why so many Americans are eager to relocate to Southwest Florida,” U.S. News pointed out.
The town has a population of about 20,000 and a median home value of $577,796. The real estate market has slowed after a few years of rapid growth, during which prices surged by over 30 percent at the height of the COVID-19 pandemic in 2021. And that’s good news for buyers.
“Sales are steady, and inventory levels are higher in Naples than during the pandemic frenzy, which allows buyers to have more choices,” Michelle Thomas, an agent at Premier Sotheby’s International Realty, told Travel + Leisure.
A state-specific exemption (the “homestead exemption”) may also lower the property’s taxable value for full-time Florida residents — another incentive for out-of-state residents to relocate to the Sunshine State and Naples.
During the fall and winter months, the town attracts many retirees and “snowbirds” — the median age in Naples is almost 67. However, summer brings sweltering heat and hurricane season, which runs through the end of November. Storms, floods, and hurricanes have also caused insurance costs for homeowners to skyrocket, especially since Hurricane Ian in 2022. The annual cost of insuring a home in Florida is 421 percent higher than the national average.
However, this isn’t slowing down real estate development. The city’s beachfront will be home to a new luxurious residential community as part of the city’s Miracle Mile, a 1.3-mile stretch of prime Gulf Shore coastline.
“Golf and resort lifestyle communities continue to be extremely popular, with many golf courses currently experiencing wait lists,” Thomas explained. “Another popular type of property would be the waterfront properties, which allow you to have your boat in your backyard with easy access to fishing, dining by boat, and visiting our uninhabited islands for relaxation and shelling.”
U.S. News also crowned Naples the best place to live in Florida. The city is followed by Sarasota and Pensacola, while in the general list of the best cities in America, Naples is ahead of Boise, Idaho, and Colorado Springs, Colorado.
For its annual rankings, U.S. News considers the 150 largest metro areas in the country and analyzes data on cost of living, crime rates, well-being, job market, and overall value.
Source link : https://www.travelandleisure.com/naples-florida-best-city-to-live-in-america-2024-8675697
Author :
Publish date : 2024-07-17 09:54:00
Copyright for syndicated content belongs to the linked Source.
