Cost Of Living Naples Florida
So you want to know about the cost of living in Naples Florida?
In this article we are going to talk about the cost of living for median house purchase, renting, utilities, food and some other hidden incentives to move to Naples Florida. And we will compare Naples to the state of Florida as well as the United States.
Oh yeah… If you are interested in Florida in general we do a bunch of videos not just real estate related but also area attractions throughout Florida. So be sure to subscribe!
Ok – Let’s dive in!
Let’s talk housing in Naples Florida!
Naples Real Estate For Sale
As you can see the median sales price in the United States is $231,000. The median home price in the state of Florida is around $237,000.
And the median home price in Naples Florida is $323,000.
Naples is definitely not the cheapest but an incredible place to live with beautiful beaches and weather.
So… What about renting in Naples Florida?
Naples Real Estate For Lease
As you can see here in the color Orange, Naples is higher than most of Florida and the United States on average.
Naples Cost Of Living Utilities
Electric: On average for standard 3 bed 2 bath 1500 sq ft home you can anticipate to pay FPL (Florida Power & Light) On Average $150 Per Month in Naples Florida.
Water / Sewer: Around $75-100 per month in Naples Florida.
Cable / Internet: Around $100 per month in Naples Florida.
Now this doesn’t take into consideration if you are in an association where you HOA fees may cover some of these expenses.
Groceries In Naples Florida
Groceries are about 17% higher than the national average. And there is a really good variety of types of stores from organic to an experience like a wine bar inside Wholefoods.
Eating Out In Naples Florida
Going out in Naples can be quite expensive depending on where you go. But the average for a decent restaurant is around $25 per person not including any beverages or tip.
Heath Costs In Naples Florida
Health costs are inlined with the national average. And Naples has a large amount of hospitals, urgent care centers and assisted facility living centers.
Transportation in Naples Florida
Transportation in Naples is about 20% less than the national average. The public transportation system in Naples is designed very efficiently and is fairly inexpensive.
Sales Tax In Naples Florida
Florida has a 6% sales tax on all goods. In 2020, Collier County, which is where Naples is located, added an additional 1% tax to this.
No State Income Tax In Florida.
BUT! Keep in mind, there is no state income tax in the state of Florida.
The last thing that I want to cover is our incentive to purchase a home by reducing real estate taxes. How it works. If the home you buy in Naples Florida becomes your primary residence, you can file for a homestead exemption.
A property owner may be eligible to receive a homestead exemption up to $50,000. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000 applies to the assessed value between $50,000 and $75,000 and only to non-school taxes.
And you can apply for the Save Our Homes Constitution that essentially limits the increase of real estate assessment of 3% annually.
All of which can add up to significant savings.
We are local real estate brokers here in SW Florida. If you are looking to relocate to Naples Florida or SW Florida in general, give us a call or inquire on our website below and we will be more than happy to help you out.