Pros and cons of living in Paradise
Yes, you got it right, the Floridian city of Cape Coral does feel like paradise.
So, let’s assume that y’all know what living in Florida is all about. The living is easy – no wonder people want to move here.
Historically, Florida West Coast median prices have been always lower than those of the East Coast. Primarily because there are less businesses, but since a lot of jobs turned remote, the West Coast of Florida with its white sandy beaches and calmer ocean shores, became a very desirable relocation destination, and the prices are slowly but steadily catching up.
So, if you have been considering buying real estate in Cape Coral, especially if you are looking for a great waterfront location, this would be the best time to do so while you still can find a lot of great reasonably priced properties.
So, how does Cape Coral compare to the state averages? Let’s see if we can find a pro to every con of living in this beautiful city.
1. Location, location, location!
Cape Coral is located on the west coast of Florida, near Fort Myers, but it’s not located very conveniently.
The very first downside of living in Cape coral is the balance between the cost of living and distance to your work space.
The fact is that Cape Coral hosts primarily privately owned residences, most of which are relatively new builds, and not necessarily extremely cheap.
So unless you are retired with a good chunk of money, are in the medical field or own a successful local business, you will most likely need to drive to the nearby Fort Myers for work because there are not too many high paying jobs in the city of Cape Coral itself.
And if you have to drive for work, you will need to cross one of the 3 Cape Coral bridges, and each trip will cost you.
But this may also be beneficial – because this is literally the best place for those who don’t have to go to work every day for various reasons, like working remotely. I can literally see a sparkling canal and my pool waterfall as I am working on a script for this video. Isn’t that a dream?
The benefit of Cape Coral being a bit harder to reach, is also in a relatively low flow of younger vacationers. Given, there are still a lot of people coming to visit Cape Coral during the popular season November through March, but it’s not so to speak a “party” city, so the area doesn’t really attract spring breakers, but mostly families, mid age singles, and older couples.
That means the vacation season doesn’t bring in that much crime or noise. This appeals to those visitors and locals who like a quiet and relaxed life.
The crime level here is really low. Cape Coral’s total crime rate is 49% lower than the national average and 44% lower than the average in the state of Florida. I’ll take that.
Besides, if you do cross the bridge every day for work, the City of Cape Coral has a reduced bridge toll plan. Traffic is still a problem, just for your information.
2. Things to do
This brings me to another downside of the City and the area in general.
There is literally no large-scale entertainment. Partially because there are no really large sized venues for music or sports events in Cape Coral itself.
There are some local theater and music performances in Fort Myers, but for bigger events you will need to drive about an hour to Naples, 2 hours to Tampa. Miami is a 3 hour drive away.
Don’t get me wrong, if you want to, you can always find a party or manage one. But in general, especially compared to South East Florida, there is not much to do here.
This especially affects younger people, as Cape Coral is definitely not catering any excitement for them.
If you own a boat, Cape Coral is the place to be with its endless canals and marinas and exit to the Gulf of Mexico. Fun Fact – Cape Coral has more canals than Venice.
So, really, the best entertainment in Cape Coral is fine dining, seeing movies, going to the beach, kayaking, bicycling, boating, and getting lazy around the pool.
Wait, was that a con? Ha, sign me up!
Yes, true, Fine dining may be the best thing to do in the area, but man it’s good in Cape Coral! I lived in the Bay area, in Los Angeles, Orange county, Fort Lauderdale, visited Portland, New York and many other wonderful cities around the world. Fine Dining in Cape Coral is some of the best I have ever seen!
Restaurant owners really take pride in the food they serve to their guests, and the variety of cuisines is wide as well! There are american, italian, mexican, cuban, even peruvian restaurants, local boutique breweries with all american food like Keg and Cow with 48 beers on tap, and of course the local gem Lobster Lady – the seafood market and restaurant with 12 page menu, weekly and daily specials, fresh lobsters that you can pick yourself while they are sill in the water, and incredibly friendly staff.
You should visit Cape Coral just for its fine dining. Fort Myers is also a great place if you are looking for an awesome meal.
Going to see movies as one of the few entertainment options sounds a bit pathetic, but… The local movie theater Marquee Cinemas has assigned recliner seating, and on Tuesdays, the theater has fixed low ticket prices on all current shows for everyone.
Right, there is not much major entertainment in town, but there are many street concerts for every taste – that are frequent, completely free, and surprisingly very high quality!
There are multiple wonderful bike trails in Cape Coral, and it’s very pleasant to ride around.
For families with kids – there are good public schools, and they have really good extracurricular activities.
On Saturdays, in Downtown Cape Coral, local small businesses present their goods in a Farmer’s market, and a small version of it is also held on Tuesdays in another part of town.
I also linked a video of a local real estate pro about things to do in Cape Coral in the description, he goes a little bit deeper into what to do here if you come to visit, although most of the things become a little mundane after you have lived here for a while.
3. Should I worry about hurricanes?
How about the weather though, didn’t the city just get devastated by Hurricane Ian?
Oh, well, yes, it did.
Cape Coral and Fort Myers and surrounding areas in the SouthWest Florida area sustained a lot of damage during Hurricane Ian.
Many houses in the very South of Cape Coral below the Cape Coral Parkway got a lot of flood damage. All over the area you can see tarped roofs and broken fences.. People in Cape Coral lost docks, lanai cages, and boats. A lot of trees and plants were torn out of the ground including my 20 year old mango tree that gave the sweetest mangoes. It took 2 weeks for the city to complete the repair of power lines.
As someone who stayed in through the hurricane, I have to admit, it was scary.
As you probably know, Cape Coral has more than 400 miles of waterways including 156 miles of fresh water canals connecting dozens of lakes, 222 miles of salt water access canals and 31 miles of shoreline with boater access to the Gulf of Mexico. The proximity to big waters definitely increases the risk of flooding.
A lot of houses in Cape Coral are located in an A-flood zone that requires additional insurance.
So, on the flip side, although the very south, older part of Cape did get a lot of water damage, the newer buildings, including those located right on canals, sustained minimum to no water damage from flooding, even though water came in very close, and the tide was high, most of people in newer Cape Coral had no water inside their houses.
It is partially due to the current building codes that require enough elevation. The city canal system also helped by allowing water to flow out back into the Gulf of Mexico.
Definitely, as you drive around, you can still see a lot of devastation – damaged roofs, crooked boat lifts, even boats sitting in the middle of road medians or in people’s front yards, piles of trash and destroyed trees.
But I have to admit that city services work very well on removing the trash and restoring all city structures, roads and communications.
During the hurricane Ian (that was by the way a few times larger than Andrew) Cape Coral got sorta protected by the chain of islands that wraps around the Cape from the West – Pine Island, Senibel, and Captiva, which unfortunately took the big hit and experienced a lot of damage and flooding, especially Matlashey – that got destroyed almost completely.
But in my opinion, Cape Coral sustained relatively small damage considering the power of Ian and the city’s extensive canal network.
Some people I know who live in an A flood zone decided to cancel their flood insurance, as in their opinion, if we survived Ian, flood is not a threat for their houses.
Another fact. It’s been 13 years since the last major hurricane. Storms as large and strong as Ian don’t happen too often. Locals don’t expect any devastating events like Ian any time soon, however, of course, I would not rely on hopes.
Studies show that the climate is changing. Weather pros say that as Caribbean waters warm up, although the amount of the storms will decrease, those that form will intensify dramatically and their impact when they reach the land, will be much stronger than of those in the past. So, it looks like we may not get another Ian the very next season, and summer storms in Florida may decrease in number, we will get them bigger and more impactful altogether. So, you make your own decision on that.
4. How about healthcare and the rest of the infrastructure?
The city is developing extremely fast, and the majority of people who are coming to find a home in Cape Coral, are mid aged or seniors – the very people who need more healthcare in general.
So, the population is growing, as people are discovering the gem of Cape coral, and unfortunately healthcare is not catching up.
It’s not easy to get a special care physical appointment. They are all booked for weeks if not months ahead. And the power outages during Ian didn’t help the situation as many appointments got moved or canceled.
However, if you get aligned with local healthcare, you will get high quality service. You can always get as much help as you can with telemedicine, and if you plan all your major checkups and procedures ahead of time, you will be alright.
Also, I have faith that with the expansion of the city population, we will see more healthcare offices opening in town very soon.
As for the rest of the infrastructure, it’s expected to be growing as well. Currently there are no Trader Joe’s, Whole Foods or Costco in town, but Publix supermarket or Target are within close reach and there is Sam’s Club in the area. The closest Trader Joes and Costco are right across the bridge in Fort Myers. There are also a few shopping plazas with major stores such as Walmart, Home Goods, Burlingonts, Bath bath and Beyond, Ulta, Home Depot, Lowes, and even a cute little European market.
Also, surprisingly, services like hair and nail care are very high quality in town, and the prices are more or less reasonable.
The closest 24 hour Fitness gym is in Fort Myers, I would say it’s a bit far, but there are private local gyms all around town within close reach, and a very good big and brand new Crunch gym that has all you need for strength, cardio and High intensity training, water massage chairs, and the most expensive plan is around 30 dollars a month.
There are also boxing gyms and a great target range.
OK, HOW MUCH?
Now, let’s talk money.
The median listing home price in Cape Coral in February 2023 was $450K, trending up 12.5% year-over-year. That is after hurricane Ian, which makes the cost of real estate in the city fairly expensive. In February, the market was considered Balanced.
Now, please mind that there is a lot of housing in Cape Coral that is below this price point, and there are lots of houses on the water that cost close to a million, and there are even much more expensive ones.
I do believe Cape Coral is for people who love being on the water or close to the open water, but not exactly right on the ocean shore. It’s for those who love it quiet and don’t need a lot of things happening around them, but to whom a long drive or even a flight to an event is not a big deal.
This city is a hidden gem, sorta power broker of Florida.
And all things considered, it’s definitely catering more to wealthy residents.
Here are some numbers. I am presenting to you what I pay for my property. I am sure you can find cheaper services, but I personally prefer to work with privately owned companies where the owners are directly involved in the service.
My homeowners insurance is now running about $3200 per year.
Flood insurance that is mandatory if your house is in an A flood zone and you have a mortgage – has skyrocketed, and more than doubled compared to 2022. I am currently paying about $3400 yearly for flood insurance.
Pest control will run you around $100 every 3 months. It includes free treatment if you see activity in between services.
Lawn pest care and fertilization is about $125/ bimonthly
Lawn mowing service is about $100 but it depends on the size of your lot. It includes flower beds weed control and edging.
Pool service (weekly pool cleaning, monthly filter cleaning, chemicals included) – $90 per month.
My water and sewer are connected to the city resources. I pay around $65 a month for water supply, sewer and trash removal.
The Electricity subject is interesting because Lee county, where Cape Coral is located, has its own Electrical Coop LCEC that has built and is maintaining the power infrastructure and resells power from Florida Power and Light. Therefore, Cape Coral residents constantly complain about LCEC unreasonable power charges.
Just to compare, when I lived in a 17 hundred square feet house in Hollywood my power bill was around $50.
Here in Cape Coral, after installing a new AC, my power bill is around $200, considering that I like to keep my house temp between 75 and 80 Fahrenheit. This house is also bigger at 2300 sq ft, I use quite a lot of night lights, and I also have a non-heated pool with a waterfall that takes power.
If you like it really cold, I heard that some Cape Coral residents pay between $500 and 700 per month in electricity alone.
You can of course also solarize a lot if not all of your power, but keep in mind that it’s pretty expensive (don’t believe “free” solar programs) and doesn’t take you off grid – so in case of power outages, you will still need power to connect to the solar network – unless of course you build you own custom solar system.
Something to consider.
Other charges such as Internet are less substantial, and you can get Xfinity for a year for $20 bucks a month and then it will run around $45.
Now, some other useful data on Cape Coral.
Cape Coral is the third largest city in Florida (behind Jacksonville and Tampa). It’s the largest city in Southwest Florida. Most populous city between Miami and Tampa with over 167,000 full time residents and The current metro area population in 2022 of 910,000. It is currently considered that Cape Coral is only 45% developed and its built-out population will be more than 400,000. It is growing, folks, and you can still squeeze in with reasonable house prices while you can.
Cape Coral is mostly a caucasian and republican city. Median age of residents is 43.
As much as my heart hurts about the hurricane Ian devastation, I have to admit that the house prices didn’t go down that much. That means that this area is still in high demand. Although there are a lot of people who can no longer afford living here – some were underinsured and can’t fix the houses that are unlivable now, some just decided that it’s too expensive and risky to own a property here, so the market is now a bit more favorable to buyers, and even with overall high prices, you can find a great deal for a fixer upper or land with a house that needs to be demolished.
If you decide to buy a fixer upper, here are a few things to consider. Even before hurricane Ian, it was not easy to find reliable contractors to renovate a property. Now, after the hurricane, and considering the immense amount of new construction in the city, it’s very hard to find fast, reliable and reasonable contractor services – they are backed up for months.
So, if you want to buy and are thinking of buying a fixer upper or a house damaged by flooding, mind that it may take extended time or more money for you to get your house to the state you want. I am not saying it will be impossible but it will take either time, extra money or both.
If you are buying a house with a tile roof, please know that roof tile is on backorder and you will not get it done for a while.
If you are buying a house in an A-flood zone, consider the insurance price if you plan to get a mortgage and are on a budget.
If you are planning on getting any kind of reno jobs done in your house, make sure you don’t only rely on ads, but try to get local references from people who have used the contractor services before. Check out those Google ratings!
If you don’t know the area, absolutely get a local agent who knows which areas of Cape Coral are better to live in. I found a local agent through Zillow, and he gave mу great advice on where I should not be buying. I ended up in South West of Cape Coral, which is considered the best area. It’s a bit pricier, but I can’t be happier with the neighborhood. It’s quiet, my neighbors are awesome, there are 2 cops living across the street from me, there is a charter school 3 blocks from my house, so I know this area is safe.
And, last but not least. Some time ago, Cape Coral introduced city services. It costs locals quite a lot to switch to city provided water and sewer, so when you are buying a house make sure that you check if the Assessment for the connection was paid, as the balance will be your responsibility.
So now, after trying to be as little biased as possible, here are my personal notes and perceptions on living in Cape coral.
Most of my neighbors are winter birds. And when they are here, we rarely interact although they are all very sweet people. I have made a couple friends, however, I feel like overall, I am very lonely here since I moved in while still being single. So, I think this city is best for couples or families, and if you are single moving here hoping to meet new people, it may be difficult. I don’t really need much entertainment but I do want to go see a nice concert or a performance once in a while, which I did enjoy quite a lot in Los Angeles, but on the other hand LA is a cultural Babylon, so definitely these two cities are not comparable. I am also into improv comedy, but there are no comedy theaters close by.
I can’t complain, my life is beautiful. I do wish I could meet more people, but I am shy and pretty introverted. So for now I stick with the newly discovered Youtube video production passion.
Speaking of which, I hope you liked the video, and if so, please give me thumbs up or leave me a comment – I really would like to know how I am doing. Also, if you have any questions about Cape Coral, please don’t hesitate to ask.
But I hope I inspired you about the city and we may become neighbors soon!
This video could be found here: https://youtu.be/DrZtxNBU6qk
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