Renters struggle to afford living in parts of Southwest Florida
Renters we spoke to in Southwest Florida say they can’t afford their living situations Monday. And those we speak to also said what they pay is not worth it. And a realtor we spoke to said renters are paying for the location.
“Naples is beautiful, but not everybody is rich,” said Angela Nash, a renter in Collier County.
In Collier County, 28.7 percent of renters are severely burdened by what they have to pay each month. And realtors agree most people pay almost more than half their salary if not more.
“On entry-level price points, people will spend more of their income than in the higher levels,” said Kal Anderson, a realtor with Coldwell Banker.
Cape Coral is the twelfth most expensive place to live out of the 100 largest markets, and it is more expensive to live in Cape now compared to last year.
The bad news is realtors do not see price drops coming anytime soon.
“With so many new properties coming to the market with wondered amenities and lifestyle upgrades that the prices will reflect that,” Anderson said.
But residents are still asking for relief.
“If they want people to live here, they either need to lower the rent or up the wages,” Nash said.
Collier County commissioners told us they are adding more affordable housing units that will be completed in the area by 2021. And commissioners plan to discuss this topic at their scheduled meeting Tuesday.
For more information, see the 2019 Cost Burden Report: Half of Renter Households Struggle With Affordability.