Robert Feerick liked the prospect of warm weather year-round and golfing with friends so, eight years ago he moved his home and business to Naples.
Naples housing may be expensive but people choose to live here for the quality of life that Naples offers and its favorable weather. In a study done by University of Michigan economist, David Albouy, Naples was ranked as the tenth most valuable city. His study compared the housing prices of more than 200 U.S. cities to their perks like favorable weather and lively downtown areas. His study also factored in the amount of high paying jobs and productivity in each area. Albouy said,”Naples outranks all cities east of the Mississippi when it comes to quality of life.”
Living in Naples does come with a housing price tag. “For homes priced above $300,000, which was nearly half of the Naples market in May, the median price leveled off at $550,000, far above the national median of $169,000 tracked by the National Association of Realtors.”
Many agree that Naples offers a small town quality of life along with its unique ambiance. Cathy Christopher, who heads the Naples Downtown Association board said,”residents can walk through boutiques and cultural events and dine on Fifth Avenue in shorts and flip-flops. People like getting away from the formality.”
“Albouy’s study of city value also factored in the amount of high-paying jobs and productivity in each area.” He went on to say, “Naples isn’t a bad place to do business, with wages at the national average and demand for commercial real estate steady.” If Naples wants to stay on the list of top cities, it will need to attract more businesses.