Collier buyers need twice the national average to buy an existing single-family home

http://www.naplesnews.com/story/money/business/local/2016/08/11/collier-buyers-need-twice-national-average-buy-existing-single-family-home/88565602/

This is pretty crazy how we compare to the rest of the county and even to Lee County.  We do live in paradise so the demand is here for the homes!

See the different incomes and down payment requirements to afford an existing single family home in the area.

With a 20 percent down payment, U.S. homebuyers needed an income of $44,004 to afford an existing single-family home in the second quarter.

But buyers in the Naples-Immokalee-Marco Island market needed $82,176, while those in Cape Coral-Fort Myers needed $42,048.

With a 10 percent down payment, buyers nationally needed to make $49,504 to buy a resale home. But in the Naples metro area they needed $92,448, and in the Cape Coral-Fort Myers market $47,304.

If they put 5 percent down, U.S. buyers needed $52,255, while Naples buyers needed $97,584 and Cape Coral-Fort Myers $49,932.