Introduction
Fort Myers, FL is a popular destination for tourists from all around the world, known for its stunning beaches, beautiful weather, and world-class amenities.
With so many visitors coming to the area each year, it’s no surprise that short-term rentals have become increasingly popular in the area. In this blog post, we’ll dive deep into the Airbnb rental market in Fort Myers, exploring key data points such as home appreciation, occupancy rates, and regulation.
Home Values and Appreciation
As of October 2024, according to Zillow, the median home value in Fort Myers, FL, is $357,822. This is a significant increase from just a few years ago, with homes in the area appreciating by -3.54% over the last year. The housing market in Fort Myers is thriving, which is great news for those looking to invest in short-term rentals in the area.
Airbnb Rental Data
Chalet, a leading provider of vacation rental data and analytics, reports as of October 2024 that there are currently 195 active short-term (Airbnb) rentals in Fort Myers, FL. The average daily rate for these rentals is $189, and the occupancy rate is 57.61%. This means that short-term rental investors in Fort Myers see significant returns, with an annual revenue of $27,010.
Yield and Taxes for Short-Term (Airbnb) Rental Investors
When it comes to investing in short-term (Airbnb) rentals in Fort Myers, the average gross yield is 7.55%. This is a respectable return for investors, and it’s worth noting that the area is investor-friendly in terms of short-term (Airbnb) rental regulations. According to SmartAsset, the average property tax in Fort Myers, FL is 0.95%. While property taxes can vary based on a number of factors, this is a relatively low rate compared to other popular short-term (Airbnb) rental destinations in the United States.
The Economy and Climate of Fort Myers, FL
The median household income in Fort Myers, FL is $56,945. This is slightly lower than the median household income in Florida, which is $59,227. However, Fort Myers has a thriving economy, with a large number of businesses in the healthcare, retail, and hospitality industries.
In terms of climate, Fort Myers has a humid subtropical climate. This means that the city experiences hot and humid summers, with frequent afternoon thunderstorms. Winters are mild and dry, with temperatures typically ranging from the mid-60s to the low 80s. Overall, Fort Myers has an enjoyable climate that is perfect for outdoor activities year-round.
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Population, Sports Teams, and Colleges
The population of Fort Myers, FL is approximately 87,000. The city has a diverse population, with a mix of families, retirees, and young professionals. Fort Myers is also home to several sports teams, including the Fort Myers Miracle minor league baseball team, and the Florida Everblades minor league hockey team.
There are several colleges located in Fort Myers, FL. Florida Gulf Coast University is a public university located in the city, offering a variety of undergraduate and graduate programs. Additionally, Florida SouthWestern State College, which has several campuses throughout southwest Florida, has a campus in Fort Myers.
Crime Rate and Tourism
The crime rate in Fort Myers, FL is higher than the national average. According to NeighborhoodScout, the city has a crime rate that is higher than 87% of other cities in the United States. However, it’s important to note that crime rates can vary based on neighborhood and time of day.
Fort Myers is a popular tourist destination, with visitors coming from all over the world. According to Visit Florida, there were over 8 million visitors to Lee County, which includes Fort Myers, in 2020. Many visitors come to Fort Myers to enjoy the beaches, water sports, and other outdoor activities.
Tourist Attractions and Peak Season
Fort Myers is home to several popular tourist attractions. One of the most well-known attractions is the Edison and Ford Winter Estates, which is a historical museum and botanical garden that was once the winter homes of Thomas Edison and Henry Ford. Other popular attractions include the Sanibel Island Lighthouse, the Six Mile Cypress Slough Preserve, and the Imaginarium Science Center.
The peak season in Fort Myers, FL, is typically between December and April. This is when the weather is at its best, and many tourists are escaping colder temperatures in other parts of the world. However, Fort Myers is a great destination year-round, with plenty of things to see and do no matter what time of year you visit.
Conclusion
In conclusion, Fort Myers, FL is a promising market for short-term rental investors. With a thriving housing market, high occupancy rates, and investor-friendly regulations, there’s a lot to like about the area. While there has been a recent decrease in the supply of short-term rentals, this could also represent an opportunity for investors to scoop up desirable properties at a lower price. If you’re considering investing in the short-term rental market in Fort Myers, now could be a great time to take the leap.
