MARKET & TRENDS
HOT MARKET
Market Spotlight: Cape Coral and Fort Myers, FL
A MID-SIZED MARKET SHOWING STEADY GROWTH FOR BUY AND HOLD
by Fred Heigold III
POPULATION GROWTH According to the 2018 Census/ACS data, the Cape Coral-Ft. Myers MSA is the 77th largest MSA in the U.S. with just over 750,000 residents. This metro area added nearly 15,400 res- idents between 2017 and 2018 (a 2.1 percent increase) and ranks 41st in the country for net population gain. JOB GROWTH According to the Bureau of Labor Statistics (BLS) Job Report (contain -
RentRange, an industry leader in market data and analytics for the single-family rental (SFR) housing industry, found in its recent data report that the Cape Coral-Fort Myers, FL Metropolitan Statistical Area (Cape Coral-Ft. Myers MSA) is a mid-sized market that has been growing steadily. The market offers more stability versus the last recession and currently offers good value opportunities for buy and hold investors.
ing data through March 2020), the Cape Coral-Ft. Myers MSA em- ployment market has been steadily growing since 2012, yet it has been slowing in the past year. Cape Coral-Ft. Myers ranked #41 in annual job gains with 0.9 percent growth between March 2019 and March 2020. In the last five years, the overall increase in non-farm payroll has increased 14.8 percent (ranking 12th in percentage gains), which added 36,600 jobs.
Job categories in the Cape Coral-Ft. Myers MSA through March 2020 are as follows.
MARCH 20 EMPLOYMENT
5 YEAR % CHANGE
INDUSTRY GROUP / JOB CATEGORIES
SHARE OF JOBS
1 YEAR CHANGE
1 YEAR % CHANGE 5 YEAR CHANGE
Professional and Business Services
39,100
13.8 percent
1,700
4.55 percent
7,300
22.96 percent
Mining, Logging and Construction
33,500
11.8 percent
1,400
4.36 percent
12,200
57.28 percent
Education and Health Services
31,800
11.2 percent
600
1.92 percent
4,600
16.91 percent
Financial Activities
14,200
5.0 percent
300
2.16 percent
2,100
17.36 percent
Government
44,300
15.6 percent
200
0.45 percent
3,500
8.58 percent
11,900
100
0.85 percent
1,200
11.21 percent
Other Services
4.2 percent
6,400
(100)
-1.54 percent
1,100
20.75 percent
Manufacturing
2.3 percent
2,700
(100)
-3.57 percent
(500)
-15.63 percent
Information
1.0 percent
54,400
(200)
-0.37 percent
2,300
4.41 percent
Trade, Transportation, and Utilities
19.1 percent
45,900
(1,400)
-2.96 percent
2,800
6.50 percent
Leisure and Hospitality
16.2 percent
82 | think realty magazine :: july 2020
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