Real Estate

Understanding the Average Income and Demographics of Naples, FL, That Can Influence Your Real Estate Decisions  

Naples, the captivating city of sea and rich cultural diversity is brimming with beauty and liveliness. The capital of Campania isn’t just reckoned for its spectacular views; it is a historical hub and has been recognized as a World Heritage Site by UNESCO. The city is a focal point of Italy’s literature, music, theater…and cuisine. How can we forget one of the finest delicacies of the world, pizza, which was born in Naples?!     

Nonetheless, the question is looming here: is Naples a good place to live? Well, that would depend on several factors – with demographics and average income being the most crucial ones. So, before you search for Naples, FL real estate & homes for sale, scroll down to learn why you should consider various factors to make a wise decision.

Naples Population, Demographics, and Median Household Income 

Naples is Italy’s third-largest city, with a population of 19,894. Thanks to its cultural diversity, infrastructure and stunning beauty, Naples is growing at a rate of 0.96% annually. Keeping pace with the growth, the population has also increased by 3.97% compared to the last census record of 19,134 in 2020. This clearly indicates that this quaint Italian city is fast gaining popularity, attracting discerning homeowners and real estate investors.

The population of Naples is diverse, with white non-Hispanic being the largest ethnic group dwelling in the city. Non-Hispanic comprises over 95.59% of the total population. The chart below will give you an impression of the city’s racial composition:

Race% (Percentage) of Total Population
White89.51%
African or Black American4.93%
Two or More Races3.81%
Asian0.91%
Other Race0.72%
Native American0.12%
Pacific Islander or Native Hawaiian0%

If you consider Naples’s sex ratio, you’ll see that females comprise almost 53.32% of the total population. On the other hand, the percentage of males in the city is 46.68%. Another interesting fact is that presently, there are 17,510 adults in Naples, of whom approximately 10,550 are seniors. The median age is 66.9 years.

The city’s average household income is $277k, and the poverty rate is 6.01%.   

See also: How Can a Realtor Help You Find the Best Homes in Ridgefield, CT?

How Demographics & Household Income Influence Real Estate Decision

If you are eyeing Naples, FL, real estate & homes for sale, you should first consider the city’s population demographics and average household income. Read on to understand why this is important.

Know the demand for different property types.

Understanding Naples’ current demographic trends can help you make informed decisions about real estate investments. Factors like population growth, income levels, age distribution, etc., can help you understand the demand for real estate properties in Naples.

For instance, the city’s age distribution is titled more towards seniors or the retiring population. So, it might be worth investing in different senior living communities. On the other hand, the rate of home ownership in Naples is 82.6%, whereas renters comprise only 17.4%. For real estate investors, this is a vital demographic trend to consider to determine which has the highest potential in terms of long-standing growth – home or rental properties. 

Assess property prices in Naples.

Changing demographic trends can also impact real estate prices based on potential buyers’ age, average income, race, and ethnicity preferences. Various factors, like population growth, age, gender, migration patterns, etc., can influence how properties are priced. This can help you tailor your investment strategies based on the prices of different types of properties. 

Identify long-term growth potential.

Demographics and average income level heavily influence factors like infrastructure development and amenities. This will help you directly evaluate your real estate investment’s long-term value and profitability. Think about it: a home in Naples with access to good schools, public transportation, shopping centers and a vibrant community will be in high demand. It indicates a higher resale value of your property or better rental income. 

Population changes, infrastructure development, etc., play a crucial role in determining how much the real estate property will appreciate over time. Naples is presently witnessing a growth in population, followed by planned future development and good infrastructure. It is one of the most preferred destinations for second homes. As such, you can expect the property value to rise over time.

Final Words

Spectacular beaches, a year-round salubrious climate for outdoor activities, and an upscale lifestyle—what more can you want from a location to invest in real estate? Naples has it all! It is one of the most sought-after places to live and has numerous luxurious and budget-friendly communities. Though it ideally attracts second homeowners, it is also an enchanting place to live permanently. However, it is recommended to consider various factors like demographics, income level, property price, etc., to find a suitable community and real estate for sale.

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