Cape Canaveral Real Estate Market Overview
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Location and Weather
Cape Canaveral is a part of Canaveral Island which runs southeast along the coast. The Banana River separates it from Merritt Island. The Indian River Lagoon, one of the most biodiverse estuaries in North America, separates Canaveral Island from the mainland. The coastal town of Cape Canaveral is typical of a beautiful Florida beach town with activities centered around the ocean and the lagoon and river including boating, fishing, paddle boarding and water skiing.
The summers are hot in Cape Canaveral, but the coastal breeze gives a cool relief from the heat. The summer high temperatures are in the 90’s with evening lows in the 70’s. The cooler season brings mild temperatures in the 70’s with lows in the 50’s.
Population, Job Market and Cost of Living
Cape Canaveral’s history is closely tied to the space program with NASA and now with a recent resurgence in space travel and exploration with aerospace companies such as SpaceX, L3 Technologies, Harris Corp. Those companies have brought job growth in high tech and engineering. Over 21 businesses have signed deals to bring up to 3,000 high-paying jobs to the area. The job growth last year was 1.9%. The population was 10,449 in 2018 and is steadily growing with the job growth and tourism. The cost of living is moderate which is great for being a coastal city.
As a coastal city in a warm climate with the added excitement of the space exploration program which attracts investors and highly educated workers, Cape Canaveral will continue to attract those that want the Florida lifestyle to live and work.