Cape Coral is known as a location for those retirees. Recently, there is a new invasion that is taking place in Cape Coral – a massive number of millennials. Nearly 80% of first time house purchasers are millennials. And quite a few of them are starting families.
One 34 year old mother who has a 7 year old child voiced that she wants to put establish roots for her family. After some research, she discovered that Cape Coral has really good schools, and a greater number of playgrounds
You cannot find anything less than $1000/month in the rental market for Cape Coral.
Another key factor helping new buyers enter the housing market is low interest rates. We are still experiencing very low interest rates.
And for people concerned with having to give a large down payment, there are programs that allow for lower down payments, and creative as well as convenient ways to put money down.
One type of program allows those who have a home to take out a second mortgage on it and roll the money right into the home they want to purchase. It’s a process where you don’t have to take a dime out of your pocket.
And another thing that helps millennials enter the housing market is that there are builders who are constructing homes in the $180,000 to $250,000 range.
Cape Coral Florida has a median household income of $49,841.