Is Naples really the best place to live? What it costs to survive in ‘Best Place to Live’

Kendall Little | Naples Daily News

Naples was named the best place to live in America by U.S. News and World Report this year. The report said the city’s low crime rate, desirability, and quality of life all contributed to its number-one ranking.

But how much money do you need to make to live in Naples? Is Naples, a city of 20,000 people in the third largest state in America, a realistic place to live for many people?

Here’s what we know about the cost of living in Naples.

How much does it cost to live in Naples?
Living in Collier County can be pricey, especially if you’re looking for a spot closer to the urban coast. Naples and Marco Island are wealthy cities where the cost of living is higher than in more rural inland areas.

Property taxes are high in Naples compared to unincorporated Collier County, as the local municipality depends on them for revenue.

BestPlaces says to live comfortably in Naples, a family needs a minimum income of $200,520 annually. The recommended minimum income for a single person in Naples is $62,000.

According to the 2022 Florida Department of Economic Opportunity, Occupational Employment Statistics, and Wages, 35% of Collier jobs pay less than $35,000 per year. Around 58% of Collier jobs pay less than $45,000 per year.

Naples’ rent is higher than the national and state average for two-bedroom units at $1,890 per month. The national average is $1,430 and the state average is $1,560. Though some sites list Naples’ average rent anywhere from $1,900 to $2,200.

Groceries, houses, and healthcare all tend to be more expensive in Naples.

What is considered house poor in Naples?
House poor is a term used to describe when an individual or a family is only making enough to provide necessities. It refers to families that spend 30% or more of their gross income on housing costs.

For instance, if you’re making $62,000 annually and you spend $1,550 or more per month on rent, you’re considered house poor.

How does Naples compare to Florida’s average cost of living?
Does Naples have affordable housing?
Why was Naples awarded Best Place to Live?
How does Naples’ cost of living compare to the second best place to live?

Get the answers in the full article on naplesnews.com.

Looking for a home in Naples, “the best place to live”? Contact David at 239-285-1086 or David@DavidFlorida.com