Naples Real Estate & Home Prices

Living large in Naples

Resting comfortably on the Gulf of Mexico on Florida’s southwest coast, the small town of Naples stands out as a beautiful destination for those craving a quiet but lavish lifestyle. The town’s population hovers around 20,000 but has a shockingly high number of millionaires. It’s estimated that about 9% of the population of Naples are millionaires, giving it the second-highest proportion per capita in the nation. Additionally, the city is quoted as the sixth-highest income per capita in the United States. 

Like many Gulf shore beach towns, Naples enjoys a scenic setting. The beaches are lined with white, sugary sand, and the turquoise-colored Gulf of Mexico is typically much warmer than the Atlantic or Pacific Oceans. Naples Pier, which opened in 1888, is the perfect setting for a sunset walk or some fishing, while more adventurous types might take one of the various boat tours available in the area and explore Keewaydin Island or catch sight of some dolphins. The Corkscrew Swamp Sanctuary, a 2.25-mile-long boardwalk, offers a glimpse into local Florida wildlife like alligators, otters, and turtles. If Naples residents can’t get enough of their own shores, the gorgeous Marco Island beach is only a short drive south. 

Aside from its obvious natural amenities, Naples has also garnered a reputation as a destination for high-end shopping and fine dining. The swanky 5th Avenue South area is the main downtown strip with numerous opportunities to splurge on expensive items and delicious meals. Nearby, the more casual 3rd Street South and Farmer’s Market is available for those whose tastes might trend towards the more informal. For some rustic charm and souvenir shopping, Tin City along the Naples waterfront is the place to go. 

Naples, despite being a smaller city, also has many museums and opportunities for education. The Golisano Children’s Museum of Naples, Naples Zoo at Carribean Gardens, and Naples Botanical Garden are family-friendly adventures, while the Revs Institute, a museum for old and rare cars, and the Naples Depot Museum, a site dedicated to trains, are major attractions for gearheads. 

Economically, Naples is quite well-off, and its major industries include tourism, healthcare, construction, professional, scientific and technical services, real estate and rental leasing, education, finance, and insurance. 

Trends for homes in Naples

Private residences in Naples can range from bold and beautiful to scenic and subdued, but there are a few main styles in the area. Mediterranean and Neo-Mediterranean are both exceedingly popular, featuring architecture inspired by the Mediterranean coasts of Spain, Portugal, France, and Italy. Homeowners can expect wrought-iron balconies with sweeping gardens below, as well as multiple pillars, archways, and tiled courtyards. 

Spanish style is another Florida staple that can be seen frequently in Naples. Though similar to the Mediterranean style, these homes boast additions like parapets, carved stonework, low-pitched and tiled roofs, spiraling staircases, large central chimneys, and painted tile accents. 

Departing from the opulence and imposing grandeur of these European-inspired structures is coastal contemporary. Homeowners with an appreciation for simple, clean lines, natural textures, and neutral colors will love the light and airy feel of a coastal contemporary home. These often feature lots of glass with minimal window treatments, bright interiors, and plenty of white, with accents of soft blues, greens, and grays. 

The British West Indies or Colonial style features symmetrical doors and windows with all rooms arranged around a central point. High ceilings with exposed beams and large verandas with generous overhangs are common characteristics. Many British West Indies-style homes feature indoor to outdoor rooms with sliding glass doors like summer kitchens and covered patios with heated pools. They’re easily distinguished by their low-sloping metal roofs and shuttered windows. 

Last on the list is the classic Old Florida-style, wood-framed home. These exude a kind of causal luxury, with steeply-pitched metal roofs, wrap-around verandas, and high ceilings. The homes are often designed around a central hallway, and many homes in this style tend to be elevated and constructed on piers. 

Whatever style you find attractive, Realm’s data analysis found that Naples real estate listings feature the type of amenities you might expect in a warm weather town. Pools were the most popular feature, with mentions in 3,607 recent real estate listings, while landscaping also made the top five most popular, with mentions in 966 local listings. Also popular in the Naples housing market: painting, which was featured in 771 listings. Naples is a town that cares about amenities and appearances when it comes to their homes. However, the concrete, daily concerns like roofing repairs and HVAC updates were not ignored. Realm found that roofing was mentioned in 1,386 listings and HVAC in 1,156 listings, putting both in the top five most popular features in the Naples housing market. This is great news for an area that receives lots of rain and lots of heat. 

Tips for Naples homeowners 

Realm’s data analysis found that the construction in Naples as a whole is relatively recent, with most homes built in 2002. This means that the home will likely still be in good shape, though an inspection is still very important. However, there are a few little things to be aware of when it comes to homes built during the housing boom in the early 2000s and particularly homes in Florida. 

The housing boom in the late 1990s and early 2000s caused a few issues that are beginning to show their faces as these structures age. These issues don’t pertain to all homes, but it is important to be aware of them. Some homes suffered from poor construction work due to the rush or not having the best kind of materials available. Many homes from the early 2000s can have poor drywall work or shoddy carpentry, as well as basic structural or plumbing issues. The insulation may be insufficient and the wiring or HVAC systems could have been improperly installed. When construction work is rushed, mistakes can be made, so homeowners will want to know if their property contains any of these mistakes. 

Homes built in 2002 are coming close to their 20-year mark, so basic maintenance like painting, roofing, and HVAC may be due (or overdue) for updates. For Florida in particular, the area can receive quite a bit of wind and rain, so the roof may take more wear and tear than elsewhere in the country. It is also important to check how the property drains. Even if it looks dry, water can be lurking below the surface, causing damage. 

On a more cosmetic note, homes from the early 2000s, though they are likely to be in good shape, may have some details and floor plans that modern homeowners don’t love. If you find a home that needs some upgrades or renovations, Realm’s free dashboard tool can help you assess the cost of the updates and the value they will add to your property. 

As to be expected in a rainy climate like Naples, Florida, Realm’s data analysis found that only 43% of homes in Naples lie outside of a flood zone. This means it is highly likely homeowners will find themselves in a flood zone and it will be important to protect your home with flood insurance. On the flip side, however, 99.92% of Naples homes are outside of a designated wildfire perimeter that occurred within the last five years, so naturally occurring fires are not a viable threat. 

Frequently asked questions about Naples real estate

Is Naples an affordable place to live?

This answer depends on your particular financial circumstances. As a beach community, it is typically far more expensive than an average city because of its location. However, as it compares to other large metro areas or other similar beach communities, Naples is less expensive. For example, in Carmel-By-The-Sea, a similar beach community on the west coast, the cost of housing is over double what it is in Naples. 

Is it a buyer’s market in Naples?

As of September 2021, Naples was experiencing a seller’s market, meaning that there were fewer homes for sale than there are people looking to buy a home. In October 2021, the median listing price for homes in Naples was $555,000. The Naples housing market changes frequently though. In 2020, Naples experienced a buyer’s market. However, real estate prices have cooled slightly in the fall of 2021, so only time will tell if it flips back to a buyers market. 

Is Naples expensive?

In short, yes. It is far more expensive than other cities in the state and it is about 12% more expensive than the national average. 

Is real estate in Naples a good investment?

Traditionally, yes, Naples real estate has proved to be a sound long-term investment. It is a sought-after, wealthy community where housing values are likely to stay steadily rising. If it makes sense financially for the potential homebuyer, Naples has an excellent reputation as one of the best real estate investments in the US.