Collier tops ranking for 'passive' income among midsize markets, Lee close behind

Staff Report
Aura condominiums will be sold from the Metropolitan Naples Sales Gallery opening mid-January located at 365 Fifth Ave. South.

Southwest Florida is a hot spot for people who get income from interest, investment dividends or rentals, according to a new report from the U.S. Chamber of Commerce.

Naples-Immokalee-Marco Island tops the midsize metro list, with a median passive income of $19,700 per year. In that metro area, 35.5% of households generate passive income and the median total household income is $75,000. The poverty rate is 9.3%.

Cape Coral-Fort Myers-ranked fourth, with a median passive household income of $8,700 generated by 28.8% of households. The median total household income there is $61,700 and the poverty rate is 11.3%.

Naples-Immokalee-Marco Island area tops the passive income numbers for all cities nationally, according to the report, which uses information from the U.S. Census Bureau.

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The Sarasota Bayfront, as seen here from a 15th floor penthouse at Bay Plaza on Gulfstream Avenue, is a major attraction for the area.

The North Port-Sarasota-Bradenton metro area ranks sixth in the country among midsized metropolitan areas and 18th among all metropolitan areas, with 36.2% of households getting the passive income. The median passive income for the region is $8,000 a year.

Nationally, according to data from the U.S. Census Bureau, 20% of American households earn passive income either through dividends, interest, or rental properties.

The median passive income is $4,200; with a median total household income of $65,000 and a poverty rate of 12.3%.

Midsize metropolitan areas have a population between 350,000 and 999,999 people; small metropolitan areas are 100,000 to 349,999 people and large metropolitan areas contain 1 million people and up.

Researchers looked at 250 metropolitan areas in all 50 states.

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The research notes that the ability to earn passive income increases with total income, with passive income making up a larger share of that total income in wealthier households.

Passive income also varies by race and ethnicity, as well as by location.

The census data documented disparities in passive income by race and ethnicity that contribute to overall wealth disparities. 

Approximately 25% of non-Hispanic white households have passive income compared to just 7% of Hispanic households and 6% of Black households. 

In addition to non-Hispanic Whites, Asians are also more likely than other racial groups to earn passive income.

The median total household income in the North Port-Sarasota-Bradenton area is $64,900, the area also has a poverty rate of 9.2%.

Miami-Fort Lauderdale-West Palm Beach tops the large metropolitan area list with 16.9% of the households generating  a median passive income of $9,000. The median total household income is $59,500 and the poverty rate of 13.5%.

On a state level Florida ranks second behind California, with 19.8% of households generating a median passive income of $6,000, a median total household income of $58,500 and a poverty rate of 12.7%.