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Cape Coral Introduction
Cape Coral is a city in Lee County located on Central Florida's west or Gulf coast. It is bounded by the Caloosahatchee River to the east, San Carlos Bay to the south, and the Matlacha Pass to the west. It is 20 minutes southwest of Fort Myers and 55 minutes north of Naples.
Cape Coral Neighborhoods
The City of Cape Coral divides itself into the following subdivisions: Agualinda, Alabar, Albertson's Center (P.I.Road), Bridlewood, Cape Coral, Cape Coral, N Cape Indust Pk (CC/Lee I P), Coral Harbour, Coral Point, Coral Ridge Estates, Del Pine Manor, Deer Run, Eagle Subdivision, Emerald Cove, Florida Tropical Farms, Hancock Creek Commerce Park, Hermitage, Patterson Gardens, Rose Garden, Sand Road, Sands Lake, Sec Twp Range - Misc Parcel, South Forty, Small Farm Estates, Shorehaven, Trafalgar Park, Trafalgar Woods, Westchester Estates, Woodlands, and Whispering Pines.
Cape Coral Real Estate
According to the U.S. Census Bureau, as of 2005 there were an estimated 64,464 housing units in Cape Coral, Florida. Nearly three quarters (73.5%) of the occupied housing is owner occupied, which is above the national average. 15.9% of Cape Coral housing was vacant, which was substantially above the national average (10.8%).
Cape Coral housing is very young. Only 22.5% of Cape Coral housing was built prior to 1980, with almost all of that having been built in the 1960s and 1970s. 31.4% of Cape Coral housing was built in the 1980s, 18.0% in the 1990s, and a very high 25.2% from 2000 on. Cape Coral homes are most typically four to seven rooms in size with two to three bedrooms. Around 10% of the housing has more rooms or bedrooms.
The median value of a Cape Coral home in 2005 was $250,800 (US Census Bureau). This was well above the national average in 2005 ($167,500). 2005's median price also was a substantial increase in value over 2000 when the median value of a Cape Coral home was $110,800. By the 1st quarter of 2007, the median selling price of a Cape Coral home was up to $256,900 (National Association of Realtors). In Q1 2007, a Cape Coral condo was worth $242,900.
78.1% of Cape Coral's owner-occupied homes had a mortgage in 2005. A third of these homeowners were using equity loans or second mortgages to access the equity in their homes.
Median owner costs for a home in Cape Coral were $1,291 per month in 2005 (US Census), essentially the same as the national average ($1,295).
Cape Coral Property Taxes
Property taxes for Cape Coral are assessed by the Lee County Property Appraiser. The billing and payment of Cape Coral property taxes is handled by the Lee County Tax Collector. As of 2005, the median property tax bill for an owner occupied house in Cape Coral was $2,048 annually.
Cape Coral Schools
The schools in Cape Coral, Florida are operated by the Lee County School District. The Lee County School District is the 9th largest school district in Florida and one of the 50 largest school districts in the US. According to Florida's School Accountability Reports, 70% of Lee County School District's schools received a grade of B or above (the state average is 69%).
Cape Coral Economy
According to the Cape Coral Chamber of Commerce, Cape Coral has over 7,500 businesses. In 2005, Inc. Magazine ranked Fort Myers/Cape Coral 9th among the top 25 medium metropolitan cities for entrepreneurs to do business in.
According to US Department of Labor Bureau of Labor Statistics data, the major economic sectors in Cape Coral are (in order of size of employment):
Major employers in Cape Coral include: Breeze Newspapers, First Home Builders of Florida, Marine Concepts, Riverside Bank, and the Whitney Education Group.
According to 2005 U.S. Census Bureau figures, the median family income in Cape Coral was $51,017, which was below the national average ($55,832) but above the average for Florida ($50,465).
Cape Coral and Florida Mortgage and Real Estate Organizations
| Category | Value |
|---|---|
| Homes With No Mortgage | 27% |
| With A Mortgage | 73% |
| First Mortgage Only | 56% |
| Second Mortgage or Home Equity Loan | 17% |
| Second Mortgage Only | 8% |
| Home Equity Loan Only | 9% |
| Category | Value |
|---|---|
| Owner Costs as % of Income | 20.5% |
| Median Real Estate Taxes (2000) | $1,335 |
| Category | Value |
|---|---|
| Total Occupied | 40,852 |
| 1-Person Households | 20% |
| 2-Person Households | 43% |
| 3-Person Households | 17% |
| 4-Person Households | 13% |
| 5-Person Households | 5% |
| 6-Person Households | 2% |
| 7+-Person Households | 1% |
| Category | Value |
|---|---|
| Median Year Built | 1985 |
| Median Year Built (Owner Occupied) | 1985 |
| Median Year Built (Renter Occupied) | 1984 |
| Category | Value |
|---|---|
| Using Utility Co. Gas Heat | 0% |
| Using Bottled/Tank Gas Heat | 0% |
| Using Electric Heat | 98% |
| Using Oil Heat | 0% |
| Using Coal | 0% |
| Using Wood Heating | 0% |
| Using Solar Heat | 0% |
| Other Heating | 0% |
| No Heating | 1% |
| Category | Value |
|---|---|
| No Bedrooms | 0% |
| 1 Bedroom | 1% |
| 2 Bedrooms | 20% |
| 3 Bedrooms | 70% |
| 4 Bedrooms | 8% |
| 5+ Bedrooms | 1% |
Rate quotes from multiple lenders for the Cape Coral area:
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