Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Naples | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,198,023 | $293,727 | $242,182 |
| Price Trend (Annual %) | 9.0% | 12.0% | 8.2% |
| Median Gross Rent | $1,776 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 6.6% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Naples is about 308% higher than in Florida. Rent is about 14% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Naples, up about 9.0% and 6.6% a year respectively. Home prices are changing faster.
Median rent in Naples rose about 66.7% between 2015 and 2023, from $1,065 to $1,776. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 9.8 yearly household incomes in Naples.
Buying the median-priced home in Naples costs roughly 56.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Naples. The price-to-rent ratio in Florida is about 15.7.
| Metric | Naples | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,198,023 | $293,727 | $242,182 |
| Median Household Income | $122,151 | $71,865 | $78,145 |
| Price-to-Income Ratio | 9.8 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Naples rose about 78.1%, while median household income rose about 95.1% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Naples | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.6% | 57.1% | 58.2% |
| Rental Rate | 10.8% | 27.7% | 31.3% |
| Vacancy Rate | 44.7% | 15.2% | 10.6% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Naples has a homeownership rate of 44.6%, lower than the Florida average of 57.1%. Its housing vacancy rate is 44.7%, compared with 15.2% in Florida.
Housing Stock
| Metric | Naples | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.99 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1983 | 1987 | 1978 |
| Median Number of Rooms | 4.6 | 5.2 | 5.5 |
The typical housing unit in Naples was built around 1983. On average, 2.0 people live in a home with about 4.6 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Naples, Florida.
What is the median home price in Naples, Florida?
The median home price in Naples, Florida is $1,198,023, higher than the Florida average of $293,727.
What is the average home price in Naples, Florida?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Naples, Florida?
The median gross rent in Naples, Florida is $1,776 per month, higher than the Florida average of $1,564.
What was the median gross rent in Naples in 2020?
In 2020, the median gross rent in Naples, Florida was $1,397 per month.
What is the price-to-rent ratio in Naples, Florida?
The price-to-rent ratio in Naples, Florida is about 56.2, meaning it would take roughly 56.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Naples.
Are home prices or rent rising faster in Naples, Florida?
Both home prices and rent are rising in Naples, up about 9.0% and 6.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Naples, Florida?
44.6% of households in Naples, Florida own their home, lower than the Florida average of 57.1%.
What is the vacancy rate in Naples, Florida?
The housing vacancy rate in Naples, Florida is 44.7%, higher than the Florida average of 15.2%.