The real estate market in Fort Myers is starting to heat up again after bottoming out in 2012. I was told the 1 bedroom condo we are renting would cost about $50k now and was as low as $20k two years ago.
More pertinent to us is the vacation rentals market. I summarize prices as follows for the peak January to March period:
- 1 bedroom condo in city with pool $2000/mo
- 2 bedroom condo in city with pool $2500/mo
- 1 bedroom condo near beach $3500/mo
- 2 bedroom condo near beach $4000/mo
- 1 bedroom condo beach front $1200/wk
- 2 bedroom condo beach front $2000/wk
Ouch, some of these rates make me flinch. Everyone is on a budget, us included. Hence, it is important to find what you can afford and make it work. We found the 1 bedroom condo in the city works for us. We can drive to the beach in 20 minutes and the shopping is that much closer.
As we head north we will be camping. State Park nightly rates are about $33 taxes included. That is our preferred choice. Secondly are RV parks or resorts which charge anywhere from $40 to $75/night depending on season and location. We have a 50% discount at some parks with Passport America however the discount is usually not available in peak season.
Finally gated communities like The Landings with all the golf, tennis, yachting and swimming you can handle are appealing. A nice 2 bedroom condo costs anywhere from $120k to $300k plus $5k up front reserve fund fee. The mandatory monthly club fee is $380 and the monthly condo fees ranging from $300 to $600 make this an expensive proposition. I think I saw some seasonal rentals of 2 bedroom units for $3000 to $3500 per month but you had to rent for 3 or more months.
And that is the current story down here on real estate.
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