Naples has 15th-richest ZIP code in America

A Naples ZIP code ranked number 15 among the top 20 richest in America. To no one’s surprise, Naples’ 34102 ZIP code made the charts with the help of neighborhoods such as Port Royal having some of the most sought-after estates in the country.

According to a 2015 Internal Revenue Service data analysis done by Bloomberg, Fisher Island, just off Miami, was named America’s richest ZIP code. Atherton, Calif., was second and Palm Beach was third.

Naples is home to celebrities and some of America’s wealthiest families, who are willing to spend a lot to be close to the pristine beaches and enjoy some privacy in paradise.

Celebrities with homes in Naples include Judge Judy Sheindlin; Shahid Kahn, one of America’s richest people in 2018, according to Forbes; legendary rock musician Bob Seger; retired PGA champion Fuzzy Zoeller; and Gov. Rick Scott, who owns a beachfront mansion in Port Royal.

The Port Royal area has been called one of the most prestigious neighborhoods in Southwest Florida and is considered a landmark community with its white sand beaches off the Gulf of Mexico and 500 residences, many of which are multi-million-dollar mansions.  Last month the 34102 ZIP code had 17 home sales, according to Collier property appraiser data, with 13 of them  for $2 million or more.

Vacant lots in Port Royal have sold for as much as $4 million and waterfront homes with canal access for $5 million. If you want a beachfront mansion, expect to spend double that.

According to the Census Bureau, the median value of owned homes in the 34102 ZIP code was $770,000 in 2016.

Currently, the most expensive home on the market in Naples is a Port Royal beachfront mansion listed for $60.9 million.

A five-bedroom island colonial home in Port Royal sold in February for $16.1 million, making it the most expensive home sale so far this year. The waterfront mansion at 4295 Cutlass Lane sold for $1 million less than last year’s most expensive sale of $17.7 million at 3750 Rum Row in Port Royal.

However, the most expensive home sale in Naples within the past five years was a $46 million home in Port Royal in 2015.

There are currently more than 30 homes priced at or above $10 million in Naples. That represents about 2½ years of inventory based on the 2017 absorption rate.

With neighborhoods such as Port Royal and high-end home sales on the rise in Naples, one would expect the average income of Naples’ residents to match the lifestyle.

Unlike Fisher Island, with an average income of $2.5 million, Naples’ average income in 2016 was estimated at only $84,830, according to the Census Bureau.

The majority of luxury homeowners in Naples are “snowbirds;” retirees who own a second or vacation home and return north after the winter or spring.

Naples also recently was named the best place to retire in the U.S. and the sixth-best place for secondary home markets nationwide, according to a study from SmartAsset.

To learn more about investing in the Naples real estate market, contact an expert member of the 9 Core Realty team today.

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