Naples, Florida, is home to about 20,000 people. The city features beautiful sunsets, warm exotic beaches, and a tropical climate. While there are several reasons to buy a home in Naples, you must consider its overall cost of living to avoid breaking your bank. From single-family condominiums to waterfront homes, property values are increasing rapidly in Naples. Besides that, the cost of transportation and food is also high. Continue reading this blog for a detailed breakdown of the living expenses in Naples.
Cost of Housing
Real estate prices for an exotic beach community like Naples are high. However, the housing affordability in Naples is still better than in most beach communities in Florida.
An average median home in Naples costs around $1.1 million. However, the value can vary based on the property’s location and size. For example, a home in the Artesia community will cost around $544,500, whereas one in the Old Naples area will cost around $1.5 million.
The city also features various residential types, from high-rise condos overlooking the Gulf of Mexico to mid-rise condos available at $900,000.
Utility Expenditures
Rent and mortgage payment is also a part of the housing expenses. Utility bills can affect your budget for housing every month. Electricity costs about 10.5 cents per kilowatt, whereas the water supply is available at $3.60 per thousand gallons.
Cable TV pricing starts at $30, while the internet bills add up to $60 per month, depending on whether you want fiber optic, DSL, or cable net.
Food Costs in Naples
Naples offers some of the best cuisines and seafood. While the cost of food is slightly higher than in other cities in Florida, food expenses in Naples can vary depending on the restaurant type. A fast-food restaurant costs around $7 for a combo meal, whereas a fine dining restaurant can charge $40 per person.
Transportation in Naples
The public transportation system works on a fixed-fare basis, with $2 being the full one-way fare for adults. Those who own a car will find transportation more affordable with only 26.5 cents per gallon.
Contact our real estate agents in Naples to buy the home of your dreams. At SWFL R.E Group, our real estate experts can help you buy an affordable property and expedite the buying process. Click here for more details. Â