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Cape Coral - Community Profile
From News Press May 2005
Cape Coral continues to fuel the engine that
powers Southwest Florida’s unprecedented growth.
It’s the fifth fastest-growing city in the nation for cities with
populations greater than 100,000.
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Read the Article: Cape Coral/Fort Myers Top Best Performing Cities
City officials estimate that the Cape’s current population is more
than 132,000. It was 102,000 just four years ago.
If you roam around the city you’ll see evidence of that growth.
Nearly 5,000 new homes will be built this year. The city is in
the middle of a $200 million utility expansion project and new
parks are planned throughout the city.
And it’s the waterfront that’s attracting so many newcomers. But
it’s also the affordable real estate, a balmy climate and one of
the lowest crime rates in the state.
Homeowners on the 400 miles of canals enjoy the use of boats moored
in the waterways bordering their properties. The canals also
help residents avoid flood damage during the rainy season.
The sprawling community lies on the northwest side of the
Caloosahatchee River and includes 115 square miles of land area,
only about 35 percent of it developed. The city extends from the
mile-wide Caloosahatchee to the wetlands on Pine Island Sound.
Homes here run from the low $100,000s to more than $4 million.
The median home price is about $148,000.
Cape residents boast one of the highest median incomes in the area
at $46,800. Yet, it’s becoming more than just a retirement
haven. The student population is growing at 5 percent annually.
There are 17 new public schools planned over the next nine years
— three this year — along with four charter schools.
But the city is still a bedroom community.
Cape officials estimate that more than 60 percent of the city’s work
force travels outside the Cape to earn a living. That’s nearly
40,000 people.