A couple was preparing to move to Fort Myers.

It seemed like a great place to retire, warm and close to the beach, and they were almost set on it, but the last thing on their minds was housing.

Should they buy a home right away or rent for 1-2 years first? Listening to others only adds to the confusion.

As of the end of June 2026, the average home value in Fort Myers is about $309,000, which is down more than 7% from a year ago.

But it's not just home prices that have fallen. Rent has decreased as well. According to summer 2026 data, the median rent has dropped to around $1,100 per month.

For a while, Florida had a strong reputation for rising home and rental prices, but the atmosphere has changed significantly.

When calculating the price-to-rent ratio by comparing sale prices to annual rent, it comes out to about 22. This might sound like a complicated real estate term, but it's not that difficult.

It simply looks at how many times the home price is compared to a year's worth of rent. If the number exceeds 20, it often indicates that renting is relatively less burdensome than buying a home right away.

However, in Fort Myers, you can't just look at home prices. You might think you can put down 20% on a $300,000 home and finance the rest, but property taxes and homeowners insurance come into play. In this area, insurance can be a headache. Due to hurricane risks, insurance premiums can vary significantly based on the home's location, age, and roof condition. If it's in a flood-prone area, you also need to check on flood insurance separately.

So, you can't simply compare a $1,100-$1,200 rental to a $300,000 home. You need to consider not just the mortgage principal and interest but also property taxes, homeowners insurance, flood insurance, and repair costs to get a true monthly housing cost. If you're retiring and unexpectedly spending hundreds of dollars more each month on home maintenance, it can completely change your budget.

Be cautious about jumping at the chance to buy a condo just because it's cheap. While the sale price may be lower than a single-family home, there are monthly HOA fees.

Additionally, in Florida, you need to carefully examine the safety inspections and reserve funds for condo buildings. It's important to check not only how much the maintenance fees are but also whether there's a possibility of special assessments in the future. If you're thrilled about a bargain purchase but then get hit with a large bill a few years down the line, it can be quite a dilemma for retirees.

Therefore, for retirees moving to Fort Myers from out of state, I think living on rent for 1-2 years is a very realistic option. Not all areas of Fort Myers are the same. You need to experience whether living close to the beach is preferable or if a quieter neighborhood a bit inland is more comfortable. You should also experience the summer humidity and hurricane season, and see how convenient it is to drive to hospitals or grocery stores.

On the other hand, if you have a solid plan to live for more than 10 years and have sufficient cash reserves, the situation changes. With the adjustment in home prices, buyers may have more room to negotiate than before. Especially if a home you like has been on the market for a while, you might be able to negotiate terms with the seller. However, no one knows for sure if this is the exact bottom of the market.

If you have children, you should also check the schools. While GreatSchools or Niche scores can be useful references, it's essential to verify which school your actual address is assigned to. Sometimes, even if it looks like the same neighborhood, a street can separate different school districts.

Ultimately, Fort Myers is currently going through a somewhat unique period where both home prices and rents are decreasing. During times like this, it's unnecessary to conclude that you must buy because prices have dropped or wait because they will fall further. For those coming down for the first time after retirement, experiencing the neighborhood through renting before buying a home is also a viable approach. You may buy a home based on the price tag, but retirement living means you'll be living in that neighborhood every day.