Naples Fastest Growing U.S. Metro
Naples is predicted to be the fastest-growing metro area in the U.S., with an economy expected to grow by 6.3% in 2014, according to a just-released report by the U.S. Conference of Mayors. While the economic upswing will be much more widely shared among the nation’s metro areas and cities this year than it was in 2013, Naples has beat all estimates with a solid booming economy. Naples is ahead of the pack in many ways, adding jobs faster than any other U.S. metro area, according to the Mayors’ report. This is all good news for one of Southwest Florida’s most upscale cities.
Among larger cities, Raleigh, NC is expected to grow by 4.2%; Atlanta, 3.7% and Austin by 3.6%. College towns, like Austin, Charlottesville, VA, and Lawrence, KS will thrive but the biggest cities, like Los Angeles, New York, and Chicago will grow more slowly than the national average. The U.S. economy, as a whole, is expected to grow about 2.7% this year so for Naples to grow by 6.3%, it is obvious that its economy is thriving more than 3 times the national average!
Naples is also booming as a retirement mecca. Naples was named the #2 retirement hotspot in the U.S., according to RealtyTrac, and a great place for real estate investors to target for long-term value. More than 44% of Naples residents are of retirement age. Home prices are up in Naples with the median price of $267,473, up more than 26% from a year ago! These top honors follow on the heels of Naples being recognized as #9 Best Small Town in America by Smithsonian Magazine. Naples also placed #2 for the “Happiest Seaside Town in America.” The Smithsonian chose Naples for its active cultural arts scene, art galleries, beaches, shopping and dining.