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Examining the job market in areas like Cape Coral and Fort Myers brings forth concern about affordability. Most hourly wages hover between $20 to $28, which makes the cost of insurance even more daunting. To afford an average annual insurance premium of $4,231, an individual earning $28 an hour would need to dedicate approximately 142 hours of work—around 3.5 weeks—just to cover insurance costs.
Such financial demands mean that a significant portion of a homeowner's earnings could be consumed by insurance alone, leaving limited funds for other living expenses. With rising costs and stagnant wages, many may find themselves severely stretched in their finances, increasing dependence on the housing market.