5.1

Real Property Tax Rates

37

5.2

Residential and Commercial Development

38

5.3

Housing Unit Inventory/Vacancy Rates

39

5.4

Commercial Lease Market

40

Lee County FY07/08 Tax Rates (per $1000 of Home Value)

Unincorporated Areas

Average

Fort Myers

Cape Coral

Sanibel

Ft. Myers Beach

Bonita Springs

County

$4.15

$4.15

$4.15

$4.15

$4.15

$4.15

Dependent*

$1.29

$0.71

$0.55

$0.00

$0.00

$0.38

School

$6.96

$6.96

$6.96

$6.96

$6.96

$6.96

City

$0.00

$6.26

$4.77

$2.20

$0.61

$0.72

Independent/Other*

$3.12

$0.85

$0.91

$2.39

$3.21

$2.45

TOTALS

$15.52

$18.93

$17.34

$15.70

$14.93

$14.66

* Includes Lee County Library Fund, All Hazards, Unincorporated MSTU

**Includes South Florida Water Management District, West Coast Inland Waterway, mosquito and hyacinth control, fire district, debt service, miscellaneous

Source: Lee County Economic Development; Lee County Property Appraiser

Fort Myers

Cape Coral

Sanibel

Ft. Myers Beach

Bonita Springs

03-04

$19.34

$23.50

$22.13

$18.66

$18.59

$19.01

04-05

$18.90

$22.20

$21.01

$18.60

$18.05

$18.28

05-06

$18.08

$22.01

$20.02

$18.16

$17.55

$17.48

06-07

$16.30

$19.90

$17.95

$16.56

$16.04

$15.41

07-08

$15.52

$18.93

$17.34

$15.70

$14.93

$14.66

Source: Lee County Property Appraiser; Lee County Budget Services Office; Lee County Economic Development Office

Year

Single-Family

% Change

Value

% Change

Multi-Family

% Change

Value

% Change

2003

9,221

$1,269,644,856

1,037

$641,892,313

2004

14,157

53.5%

$2,109,883,202

66.2%

1,652

59.3%

$1,134,404,405

76.7%

2005

19,017

34.3%

$3,168,389,194

50.2%

1,926

16.6%

$1,621,253,439

42.9%

2006

12,470

-34.4%

$2,640,832,576

-16.7%

1,322

-31.4%

$906,594,540

-44.1%

2007

3,584

-71.3%

$832,047,028

-68.5%

494

-62.6%

$517,712,939

-42.9%

Source: Lee County Economic Development Office

New Commercial Construction Permits Issued in Lee County

Year

Number of Permits

% Change

Value of Permits ($Millions)

% Change

2003

640

$413

2004

903

41.1%

$339

-17.9%

2005

1,126

24.7%

$598

76.4%

2006

1,189

5.6%

$962

60.9%

2007

1,294

8.8%

$1,088

13.1%

Source: Lee County Economic Development Office

Year

Lee County

Annual

% Change

1990-2000

Annual

% Change

2000-2006

1990

189,053

2000

245,405

2.6%

2006

316,542

4.3%

Source: Decision Data Resources, Housing Units Summary Report

Year

Lee County

1990

25.9%

2000

23.2%

2006

25.9%

Source: Decision Data Resources, Housing Units Summary Report

Office

2006

2007

Submarket

Leasable Area

Vacancy Rate

Avg Net Rate

Submarket

Leasable Area

Vacancy Rate

Avg Net Rate

Bonita Springs

1,141,800

12.0%

$21.37

Bonita Springs

86,261

17.4%

$19.82

Cape Coral

1,498,560

6.6%

$24.24

Cape Coral

996,921

2.1%

$18.81

Fort Myers

3,375,571

3.6%

$15.40

Fort Myers

1,385,494

6.3%

$13.28

Lehigh Acres

131,647

2.0%

Lehigh Acres

35,671

7.2%

$0.00

North Fort Myers

218,687

0.0%

North Fort Myers

101,260

0.0%

$0.00

San Carlos/Estero

785,690

12.2%

$20.71

Estero

23,608

0.0%

$0.00

South Fort Myers

5,029,916

7.3%

$19.23

South Fort Myers / San Carlos

1,318,655

3.1%

$15.61

Islands

77,528

0.0%

$35.00

Islands

24,926

0.0%

$0.00

Total

12,259,399

6.7%

$0.33

Total

3,972,796

7.2%

$16.88

Retail

Submarket

Leasable Area

Vacancy Rate

Avg Net Rate

Submarket

Leasable Area

Vacancy Rate

Avg Net Rate

Bonita Springs

2,753,880

3.6%

$22.33

Bonita Springs

1,674,794

4.2%

$18.62

Cape Coral

6,948,024

2.6%

$18.03

Cape Coral

3,620,800

1.0%

$16.00

Fort Myers

6,785,284

3.1%

$12.90

Fort Myers

3,152,835

2.0%

$14.86

Lehigh Acres

1,122,876

3.4%

$15.09

Lehigh Acres

498,392

7.3%

$20.24

North Fort Myers

1,665,927

4.5%

$7.21

North Fort Myers

593,557

9.3%

$0.00

San Carlos/Estero

3,714,414

3.5%

$18.74

Estero

420,096

1.9%

$20.02

South Fort Myers

14,203,965

2.5%

$18.85

South Fort Myers / San Carlos

5,168,515

3.8%

$22.37

Islands

985,028

1.0%

$32.16

Islands

303,860

2.2%

$15.00

Total

38,179,398

2.9%

$0.40

Total

15,432,849

4.0%

$15.89

Industrial/Flex

Submarket

Leasable Area

Vacancy Rate

Avg Net Rate

Submarket

Leasable Area

Vacancy Rate

Avg Net Rate

Bonita Springs

968,458

1.9%

$11.23

Bonita Springs

954,000

11.4%

$10.06

Cape Coral

3,091,153

5.5%

$9.50

Cape Coral

3,062,644

7.8%

$9.30

Fort Myers

8,521,124

3.0%

$7.34

Fort Myers

8,540,724

7.7%

$8.09

Lehigh Acres

764,508

1.4%

$10.38

Lehigh Acres

845,647

11.3%

$8.59

North Fort Myers

1,101,500

3.3%

$12.50

North Fort Myers

857,168

1.1%

$7.86

San Carlos/Estero

1,440,771

8.9%

$9.48

Estero

139,752

11.9%

$10.00

South Fort Myers

11,266,639

3.4%

$8.86

South Fort Myers/ San Carlos

10,978,222

7.2%

$9.48

Islands

118,205

3.9%

$7.50

Islands

86,504

5.4%

$7.00

Total

27,272,358

3.7%

$0.93

Total

25,464,661

8.0%

$8.80

Source: 2007 Data: CoStar Group.

2006 Data: Gate’s D’Alessandro & Woodyard Commercial Realtors®, 2006 & 2007 Market Watch

Subject

Occupied housing units

Owner-occupied housing units

Renter-occupied housing units

Occupied housing units

248,128

186,108

62,020

HOUSEHOLD SIZE

1-person household

26.2%

23.7%

33.6%

2-person household

42.8%

47.5%

28.6%

3-person household

12.4%

11.0%

16.4%

4-or-more-person household

18.7%

17.8%

21.5%

HOUSEHOLD TYPE (INCLUDING LIVING ALONE) AND AGE OF HOUSEHOLDER

Family households

65.9%

71.0%

50.8%

Married-couple family

53.2%

61.6%

28.1%

Householder 15 to 34 years

7.3%

6.0%

11.2%

Householder 35 to 64 years

28.7%

34.4%

11.6%

Householder 65 years and over

17.2%

21.2%

5.4%

Other family

12.7%

9.4%

22.6%

Male householder, no wife present

3.8%

2.8%

6.9%

Householder 15 to 34 years

1.4%

0.6%

4.0%

Householder 35 to 64 years

2.0%

1.8%

2.5%

Householder 65 years and over

0.4%

0.4%

0.3%

Female householder, no husband present

8.9%

6.6%

15.8%

Householder 15 to 34 years

2.9%

1.0%

8.5%

Householder 35 to 64 years

4.7%

4.3%

5.9%

Householder 65 years and over

1.3%

1.3%

1.4%

Nonfamily households

34.1%

29.0%

49.2%

Householder living alone

26.2%

23.7%

33.6%

Householder 15 to 34 years

4.1%

2.0%

10.3%

Householder 35 to 64 years

10.0%

8.6%

14.3%

Householder 65 years and over

12.0%

13.1%

8.9%

Householder not living alone

7.9%

5.3%

15.7%

Householder 15 to 34 years

3.5%

1.2%

10.3%

Householder 35 to 64 years

3.5%

3.1%

4.9%

Householder 65 years and over

0.9%

1.1%

0.5%

FAMILY TYPE AND PRESENCE OF OWN CHILDREN

With related children under 18 years

26.6%

24.5%

33.2%

With own children under 18 years

24.4%

22.2%

30.9%

Under 6 years only

6.1%

4.1%

11.9%

Under 6 years and 6 to 17 years

5.0%

4.3%

7.0%

6 to 17 years only

13.3%

13.8%

12.0%

No own children under 18 years

2.3%

2.3%

2.3%

No related children under 18 years

73.4%

75.5%

66.8%

Source: US Census Bureau 2006, American Community Survey