INTRODUCING THE CITY OF PORT CHARLOTTE, FLORIDA

 INTRODUCING THE CITY OF PORT CHARLOTTE, FLORIDA

The city of Port Charlotte, Florida, is recognized as one of the best retirement destinations in the United States.

Snowbirds have made it their favorite destination

Let’s discover this little gem of Florida in detail.

The city of Port Charlotte in figures

Port Charlotte has a population of approximately 60,625 (2020 figures).

With an average age of 50.

It's important to note that the population has been growing in recent years. Last year alone, the population increased by 3%.

Household income is also steadily increasing, with a 5.82% increase over the past year (from $41,169 to $43,564).

Industry = the 3 largest employers:

1 – health care and social assistance,

2 – Retail trade,

3 – Construction

→ Education = 89.9% high school graduate and 19.5% have a bachelor's degree or higher

→ Median household income: $50,255.00

→ Citizenship: 95.9% are U.S. citizens. In 2020, 12.6% of Port Charlotte, Florida residents were born outside the country.

→ Poverty rate: 12.5%

→ The unemployment rate is 4.5%, which is lower than the national average.

→ Medical coverage: 86.8% of the population has medical coverage.

What you need to know

1- Port Charlotte has over 165 miles of navigable waterways, providing access to Charlotte Harbor, the Gulf of Mexico, and miles of natural shoreline bordering Charlotte Harbor and the Peace and Myakka Rivers.

2 – It is also known among the golfing community with 21 golf courses.

3 – This town is also very popular with the snowbird community. It's a highly recommended destination. During peak season (December to April), a waterfront home can cost up to $600 per night.

4- Port Charlotte was named one of the “10 Best Places to Retire” in the United States for 2012 by US News & World Report.

5- The cost of living in Port Charlotte is about 1.7% lower than the national average. Overall, this is a fairly inexpensive area to live in Florida.

6- Port Charlotte saw its job market grow by 1.9% over the past year and is expected to grow by 39%, which is higher than the national average.

7- Over 900 homes were sold in Port Charlotte as of April 2023, and it is considered one of the most popular places to move in Florida.

Port Charlotte , Florida Real Estate Figures

Between April 23 and June 23, 37% of Port Charlotte homebuyers were looking to leave Port Charlotte, while 63% were looking to stay in the metropolitan area.

In 2020, 78.9% of residents owned their own home, of which 64.9% had a mortgage.

Buyers from New York City were the first to look to buy in Port Charlotte, followed by Chicago and Boston.

The Port Charlotte housing market is quite competitive. Homes in Port Charlotte receive an average of one offer and sell in about 35 days. The median sale price for a home in Port Charlotte is approximately $310,000.

Overall, home values have seen significant growth in recent years. Other important data points concern Charlotte County, where prices increased by 15% in 2018 alone.

After many years of a very unbalanced market where supply was not sufficient in relation to demand, it seems that this is changing.

Indeed, while this market may have been a seller's market before, this is no longer the case today. We observe that the market has returned to equilibrium.

Migratory flows:

Where do people leaving Tampa go?

70% of Tampa homebuyers sought to stay in the Tampa metropolitan area.

Sarasota was the most popular destination among Tampa homebuyers, followed by Ocala and Asheville.

Where do people who move to Tampa come from?

Nationwide, 2% of homebuyers sought to move to Tampa from outside cities.

New York homebuyers looked to move to Tampa, followed by Chicago and Washington.