Trying to decide between a condo and a single-family home in Fort Myers? You are not alone. Both options can work well here, but they come with different costs, responsibilities, and lifestyle perks. In this guide, you will learn how to compare total monthly costs, understand insurance and risk in our coastal market, and choose the right fit for your day-to-day life. Let’s dive in.
Key differences in Fort Myers
Market realities
Single-family homes usually carry higher purchase prices than condos because they include land and often more living space. Condos typically have a lower entry price but add association dues that affect your monthly budget. Your true comparison should focus on total cost of ownership rather than only the sticker price.
Climate and hazards
Fort Myers is subtropical with an active hurricane season from June through November. Wind and flood exposure drive many ownership costs, especially insurance and maintenance. Always consider the property’s FEMA flood zone, elevation, age, and storm hardening.
Neighborhood context
You will find walkable urban condos in the Downtown River District, waterfront buildings along the Caloosahatchee and toward Estero Bay, and established single-family neighborhoods like McGregor and Whiskey Creek. Nearby barrier islands such as Fort Myers Beach and Sanibel offer coastal lifestyles with higher storm surge exposure. Commuting patterns, boating access, and proximity to dining and arts often shape the decision as much as the home itself.
Total cost of ownership
What builds your monthly cost
- Mortgage payment and loan costs
- Property taxes and exemptions
- Insurance premiums
- HOA or condo dues and any assessments
- Maintenance and repairs
- Utilities and landscaping
- Any planned capital improvements or reserve savings
Taxes and exemptions in Lee County
Florida property taxes are calculated using your assessed value and local millage rates. If this is your primary residence, the Florida Homestead Exemption can lower your taxable value, which may reduce your bill. For current millage, valuation and exemption details, review the Lee County Property Appraiser’s resources on homestead exemptions. You can start with the property appraiser website for guidance at the Lee County Property Appraiser.
HOA and special assessments
Condo dues typically cover building exterior, roof, common areas, master insurance, and amenities like a pool or fitness room. Fees vary by location, building age, amenities, and reserves. Ask for reserve studies, recent budgets, meeting minutes, and assessment history to evaluate the risk of future increases or special assessments.
Insurance basics by property type
- Condos: The association carries a master policy for common elements and often the exterior. You will usually purchase an HO-6 policy for interior finishes, personal property, loss of use, and optional loss assessment coverage. Confirm if the master policy is bare walls-in or all-in.
- Single-family: You will carry a homeowner policy that covers the structure, personal property, and liability. In Florida, wind or hurricane deductibles may be percentage based.
- Flood insurance: This is separate for both property types. Lenders typically require a flood policy for homes in FEMA Special Flood Hazard Areas.
Maintenance and utilities
Single-family homes come with full responsibility for exterior upkeep, yard care, pool service if present, and storm preparation. Condos shift most exterior and common-area maintenance to the association, which you pay for through dues. Utilities can vary by building or neighborhood, and some condo dues include certain utilities.
Sample monthly comparison method
Use this framework with your live numbers to compare a condo and a single-family home at similar price points:
- Mortgage payment: principal and interest
- Property taxes: assessed value times millage rate, minus any exemptions
- Insurance: HO-6 for condo plus understanding of master policy; HO-3 for single-family; add flood if required or desired
- HOA dues: condo association fees, plus potential assessments
- Maintenance reserve: set aside monthly for repairs; single-family owners often target a percentage of home value annually
- Utilities and services: water, electric, internet, lawn care, and pool service if applicable
- Total monthly cost: add each line for a true apples-to-apples view
Emphasis: the method matters more than any example number. Plug in current quotes for taxes, insurance, and dues to get a realistic comparison.
Insurance and risk in Fort Myers
Hurricane, wind, and flood exposure
Location and elevation affect premiums and coverage terms. Properties in FEMA-designated high-risk flood zones typically face higher flood insurance costs and lender requirements. You can check flood zone status using the FEMA Flood Map Service Center.
Florida insurance market context
The homeowner insurance market in Florida has seen upward rate pressure and changes in carrier availability, which can influence both single-family policies and condominium master policies. Some owners use Citizens Property Insurance when private options are limited. For background on market conditions and regulation, see the Florida Office of Insurance Regulation.
Condo lending and building oversight
Loan programs set eligibility rules for condo projects, including reserve funding and owner occupancy ratios. Some buildings may be harder to finance if they do not meet program guidelines. Review program guidance from Fannie Mae on condo and co-op project standards and HUD’s condo program page, and request any available building inspection or structural reports to confirm compliance with current requirements.
Lifestyle and location fit
Privacy and outdoor space
Single-family homes offer a private yard, more separation from neighbors, and flexibility for outdoor projects, subject to permitting. In return, you manage exterior maintenance and storm preparation. Condos trade private outdoor space for convenience and shared amenities, which can be ideal if you want a low-maintenance, lock-and-leave lifestyle.
Amenities and walkability
Many Fort Myers condos include pools, fitness centers, secure entries, and sometimes boat slips. Downtown River District buildings place you close to restaurants, arts, and riverfront parks. Single-family neighborhoods can offer larger garages or workshops and room to spread out.
Seasonal use and rentals
Fort Myers draws seasonal residents and vacation renters. Many condo associations limit short-term rentals or set minimum lease terms. Single-family homes may also have rental restrictions through local ordinances or community rules. Always check the governing documents before you buy if rental flexibility matters.
A practical decision framework
Rank your priorities before you schedule tours:
- Maintenance tolerance: low fits condos; higher tolerance fits single-family
- Outdoor space: high need fits single-family; lower need fits condos
- Budget: compare total monthly costs, not just price
- Assessment and insurance risk: how comfortable are you with potential variability
- Amenities: pool, gym, marina, security, or none
- Location drivers: walkability, beach or river access, commute to I-75 or RSW
- Future plans: seasonal use, long-term hold, rental plans, or quick resale
What to request before tours
If you are considering condos
- Bylaws, declaration, and rules
- Recent meeting minutes, current budget, reserve study, and reserve balance
- Master insurance declarations, including wind and flood deductibles
- Special assessment history and planned capital projects
- Owner occupancy ratios and any pending litigation disclosures
If you are considering single-family homes
- Any recent inspection report, if available
- Roof age, HVAC age, and service records
- Pest treatment history for termites or wood-destroying organisms
- For waterfront lots, seawall and shoreline inspection records
For both property types
- FEMA flood zone determination and any past claims disclosures
- Property tax history and applicable exemptions
- Utility cost estimates or recent bills if available
Tour checklist: what to observe
Condo tours
- Condition of lobby, hallways, elevators, and amenities
- Exterior envelope: balconies, stucco, roof, and windows
- Parking assignment and guest parking availability
- Signs of deferred maintenance, such as water stains or peeling paint
- Typical noise levels and seasonal occupancy patterns
Single-family tours
- Yard drainage and grading around the foundation
- Roof condition, gutters, and downspouts
- Exterior paint, siding, and window condition
- Fencing, pool equipment, irrigation, and driveway condition
- Distance to higher storm surge areas if coastal
Next steps: plan tours by lifestyle
- If low-maintenance is the priority: Focus on newer condo buildings and mixed-use River District options. Ask for the master policy, reserve study, and recent budget.
- If outdoor space and privacy matter most: Explore single-family neighborhoods like McGregor and Whiskey Creek, and evaluate yard, pool, and drainage carefully.
- If boating access is essential: Tour marina condos and waterfront homes, and request seawall, dock, and elevation information.
- If budget is the driver: Compare matched price points using the total monthly cost worksheet above and live quotes for insurance, taxes, and dues.
- If you expect seasonal use: Prioritize lock-and-leave condos and confirm rental rules, storage, and maintenance support.
When you are ready to compare options side by side or line up tours that fit your lifestyle, connect with our local team at Kevin Shelly Realty. We will help you estimate true monthly costs, request the right documents, and schedule showings that match your priorities.
FAQs
What is the biggest cost difference between condos and single-family homes in Fort Myers?
- Condos often have lower purchase prices but add monthly association dues, while single-family homes usually cost more upfront and shift more maintenance costs directly to you.
Do I need flood insurance for a condo in Fort Myers?
- If the building is in a FEMA Special Flood Hazard Area, lenders typically require flood insurance; you can verify flood zones using the FEMA Flood Map Service Center.
What does a condo master insurance policy cover?
- It usually covers common elements and often the exterior; your HO-6 covers interior finishes, personal property, loss of use, and may include loss assessment coverage.
How do I estimate property taxes in Lee County?
- Use the assessed value and local millage rate, then apply any homestead exemption if this is your primary residence; the Lee County Property Appraiser provides guidance on exemptions.
Are condos harder to finance than single-family homes?
- Some condo projects face extra eligibility rules for certain loan programs; review project standards and ask your lender to confirm building eligibility early in the process.
What should I look for in a condo association’s finances?
- Review the reserve study, current reserve balance, annual budget, recent meeting minutes, insurance declarations, and any special assessment history to gauge risk.
