NAPLES, Fla. — Visiting the beautiful water in Southwest Florida is a treat, but some are lucky to call it home.
“I just wouldn’t want to live anywhere else except on the water,” said Chrissina Williams, a homeowner living on the canal in Naples.
But those living closest to the coasts are at most risk for lower property values, according to a new report by Zillow and Go Banking Rates, due to rising sea levels.
The study found 40 cities were at most risk for lower home values because of rising sea levels, 18 of which are in Florida including Fort Myers Beach (#32), Sanibel (#26), and Naples (#10).
When Williams bought her property almost 25 years ago, she never even considered sea levels before deciding on her home.
“I’m hoping we don’t have to worry about it, but I know some of my neighbors do worry about it,” Williams said.
Homeowners might want to worry about it, said Michael Savarese, a professor of marine science and Florida Gulf Coast University.
The study also looked at property values from 2005-2017 and found Naples lost $24,662,978 from impacted properties due to rising sea levels. It also says 21.3% of homes in Naples will be underwater by the year 2100.
These numbers aren’t scaring homeowners though, says realtor Tiffany McQuaid in Naples.
“They may save on their rising taxes in other areas but maybe take a risk with a potential sea-level rise down the road. You know, it’s all kind of a give and takes in real estate,” McQuaid said.
