Cape Coral Residents Need To Make At Least $96K/Year To Afford Rent
Well, I’m poor. According to a new study, to comfortably make rent in the Fort Myers / Cape Coral area you need to pull down about 96K a year. Here’s where it gets worse. I was browsing the Tampa Reddit when I ran across a story about Tampa residents need to make 85K a year to comfortably make rent and live. What about Cape Coral residents? So I looked up the ‘WALLER, WEEKS AND JOHNSON RENTAL INDEX’ that was referenced in the story to see how bad we were here in Southwest Florida. It’s worse. How is it more expensive to live in Cape Coral than it is in Tampa? Insane.
The study, using April 2023 data, focuses on rent prices. They then create the categories of “Rent Burdened” and “Severely Rent Burdened”. What that means, is “For rent burdened (30%), occupant annual income needs to be this amount or greater or considered to be rent burdened as defined by HUD. For, severely rent burdened (50%), occupant annual income needs to be this amount or greater or considered to be rent severely rent burdened. Due to significant variation across the country in utilities, we calculate our measures of rent burdened and severely rent burdened without utilities.”
Without utilities, so the numbers don’t take into account the latest FPL increases. Great. So where are we?
Cape Coral and Fort Myers Residents Are Struggling.
Cape Coral’s average rent is listed at $2,322.62. To avoid being “Rent Burdened” you need to make at least $92,904.83 a year. To avoid falling into the “Severely Rent Burdened” category, you need to take in $55,742.90 a year. Are you? According to the U.S. BUREAU OF LABOR STATISTICS the average income for Fort Myers / Cape Coral residents is $52,940. So, basically, the average Cape Coral resident is struggling to make rent.
Although we’re below Tampa when it comes to afford paying the bills, Miami is worse. Their numbers are $112,183.83K a year to avoid being rent burdened and less than $67,310.30K a year puts you into the severe category.
Weekend Vibes, What’s Happening In Southwest Florida June 9-11
It felt like the weekend would never get here. However, we made it through another work week. It is time to unwind and have some fun. To help with that, here are your Weekend Vibes, what’s happening in Southwest Florida June 9-11.
Happening in Southwest Florida
How would you like to do yoga with adorable dogs and cats that are up for adoption. You can at Gulf Coast Humane Society on Saturday. Speaking of animals, there is a mini version or RetiCon taking place as well. Get up close and personal with all kinds of reptiles and even take one home if you’re looking for a new pet.
It’s also a big weekend for sports lovers. The Florida Everblades take on the Steelheads at Hertz Arena Friday night trying to win their second Kelly Cup Championship in a row. They lead the championships 3-0. If they win, they retain their title. Puck drops at 7:30. Baseball lovers, the Mighty Mussels are also in action Friday with a Marvel Comics theme and fireworks following the game. Also, there is a beefest on Saturday. Scroll down for more info.
In addition, if you love golf there is a special pass that has your name written all over it. Scroll down for more, including purchase info.
If you love to golf you need to know about the Southwest Florida Summer Golf Pass this weekend.
Hurricane season is underway again. It is kind of hard to think that it has been more than eight months since Hurricane Ian hit and parts of Southwest Florida are still wrecked. Life is still challenging for many many people. The loss is real. However, so is the recovery. If the beginning of this season is causing a rise in stress and anxiety for you, please make time to take care of yourself. Here are some resources that might help.
Finally, here are your Weekend Vibes, what’s happening in Southwest Florida June 9-11. Get out and have some fun this weekend.
ReptiDay
ReptiDay is the one-day version of Repticon, a chance for you to get up close and personal with all kinds of reptiles, amphibians, invertebrates, arachnids, and small exotic animals. If you already have one of these as a pet, you’ll be able to purchase all kinds of accessories as well as get expert advice about care and more. Saturday 10-4 at Crowne Plaza Fort Myers At Bell Tower Shops. Tickets start at $5 and are online only.
