Apartments for Rent in Naples, FL - Home Rentals | realtor.com® (2024)

FAQs

Where is the cheapest place to live in Naples, Florida? ›

Port Royal

Known for its extravagant waterfront estates, this private and gated community caters to the affluent seeking an unparalleled combination of privacy and grandeur. With its deep-water canals and proximity to the Naples Yacht Club, Port Royal is a haven for those who appreciate the finer things in life.

In 2024, Naples' real estate market indicates a cooling trend, with a noticeable increase in the median time homes stay on the market—up from 44 days in March 2023 to 121 days in March 2024, representing a significant slowdown in sales velocity.

BestPlaces says to live comfortably in Naples, a family needs a minimum income of $200,520 annually. The recommended minimum income for a single person in Naples is $62,000.

The areas of Chiaia and Posillipo are generally considered the safest neighborhoods in the city. For history buffs, Posillipo is the final resting place of the great Roman poet Virgil. The areas stretch along the waterfront and up the hill. The stunning coastal roads offer beautiful views of the entire Bay of Naples.

Port Royal Leads the Nation in Luxury Living

It's also one of the priciest areas in the country. This ultra-luxury community is about two square miles set between the Gulf of Mexico and Naples Bay. Since it was constructed in the late 1950s, Port Royal has been one of Naples' most famous communities.

Port Royal in Naples, Florida

Today, it's one of the most famous neighborhoods in Naples, Florida, and the country overall. The average home price in Port Royal is nearly $17 million. However, the affluent neighborhood is so desirable that estates in the community can cost up to $300 million.

According to “The Wall Street Journal,” the property was purchased by financier John Donahue, who is said to have picked up the original 4-acre lot in 1985 for just $1 million before building the family's dream home on it in 1989 and eventually amassing many more acres.

What is the affluent area of Naples? ›

Chiaia (Italian pronunciation: [ˈkjaːja], Neapolitan pronunciation: [ˈkjɑːjə]) is an affluent neighbourhood on the seafront in Naples, Italy, bounded by Piazza Vittoria on the east and Mergellina on the west.

Naples Housing Market Trends

In April 2024, Naples home prices were up 25.0% compared to last year, selling for a median price of $900K. On average, homes in Naples sell after 55 days on the market compared to 35 days last year. There were 204 homes sold in April this year, down from 247 last year.

While home values are on the rise, the long-term trend suggests continued appreciation, making Naples an attractive investment destination. However, it's crucial to consider your budget and long-term goals.

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

In terms of the cost of living between these two cities, Naples is higher, mostly due to the increased cost of housing as the city has a reputation for luxury real estate and high-end properties.

According to the Cost of Living Calculator 2020, Naples is about 9% more expensive than Sarasota.