As millennial homebuyers devote a larger share of income toward homes, buyers in the Sarasota-Manatee region may be reserving less of the incomes for mortages. That’s according to a new study from Construction Coverage.

The analysis of home prices looked every metropolitan markets nationally, and specifically what costs millennials are paying for homes. It found the national median income in 2023 for millennial homebuyers at $125,000.

In the North Port-Sarasota-Bradenton market, the median millennial income sat around $141,000 for the year. The median home value in the metro market for millennial buyers is around $465,000 for the North Port-Sarasota-Bradenton area compared to the national median. That means when looking at the difference between annual income and the cost of a home, buyers here are better off than nearly any other similar market.

“When compared to all homebuyers in their respective metro, North Port-Sarasota-Bradenton millennials are buying the 4th least expensive homes in the U.S. in the midsize metro cohort,” wrote Mike LaFirenza, a publicist for Construction Coverage, in an email.

Millennials in this market are paying 6.1% less for homes when compared to buyers in the market as a whole. That’s based on comparing the median home value for millennial homebuyers compared to a $495,000 median price for homes for the region in totality. But then, millennials also make slightly less than the median income for all homebuyers in the region, which is around $150,000.

The only other markets where millennials are paying less for homes based on a comparison of incomes and home prices are in the Salisbury market in Maryland and Delaware (15.1% cheaper than marketwide median price), the Salinas market in California (9.6% less), and in another Southwest Florida metro area, the Naples-Marco Island market (6.1% less).

By comparison, millennials in the Davenport, Iowa market, are paying 10.3% higher prices for homes than the median price of homes in the market, the biggest difference in the country.

Chart courtesy Construction Coverage

Marketing veteran and local entrepreneur Caryn Hodge invites pet owners to experience Peace of Mind Pet Sitters, her newest business concept. Peace of Mind Sitters provides animals with the comfort of of staying in the familiar surroundings of their own homes while their owners are away.

A Virginia native, Hodge moved to Florida in 1990. Pursuing a career in marketing, Hodge has spent the last 20 years working for agencies like the Chiles Group and Mattison’s Restaurants and Catering. After her elderly dog Hannah passed away, Hodge was asked to dog sit for her friend. Working remotely, she accepted the request with open arms. “I needed a dog fix,” says Hodge. “I hadn't had a dog around for a while and I needed some dog love.” After that, a light bulb went off. “I thought, well, everybody else is getting a side hustle. I want to give the pet peace of mind that they get to stay in their own home. They're familiar with the environment. They're such creatures of habit. They know our schedules better than we do, and they know when you take them out of that environment.” Hodge says some dogs require more attention, “A lot of dogs, especially older or younger dogs, get very anxious and disoriented. I like to keep them in their home where they're comfortable.”

Four months later, Hodge set up her website and was quickly booked and busy. Her devotion to animals is apparent, and she soon had to hire more people to keep up with demand. “I'm individually owned. I have to be the scheduler and the hiring person, all while marketing and advertising it,” Hodge says. “I rely heavily on my marketing and PR background to help get the word out about my pet sitting business.”

With a team of qualified animal lovers, Peace of Mind Pet Sitters specializes in drop-ins and overnight stays. Developing her own marketing agency Create and Connect Marketing Services this past October, Hodge’s ability to work from home allows her to pet sit during the day, ensuring the animals are comfortable and cared for. She has also grown a team of sitters she can deploy.

Hodge’s commitment to animals doesn’t stop there. As a board member of the nonprofit organization, Friends of Manatee County Animal Welfare, she organizes fundraisers for Manatee County Animal Shelter. In seven years, they have raised over $700,000.

“Animals inspire me.” Hodge says, “They live in the moment. They don't have greed and regret, and they don't hold a grudge. When you leave your house, you can leave for five minutes or five hours and that dog’s just happy to see you when you come back.”

Pictured: Caryn Hodge pictured with her beloved dog, Hannah.

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In Congress, the creation of caucuses provides a path for United State Representatives to work together to pursue common legislative goals. With hundreds of caucuses in government today, each caucuses’ ideological focus is dedicated to emerging policy issues that move a specific initiatives forward. U.S. Representative Vern Buchanan (R-FL) and Congresswoman Gwen Moore (D-WI) recently announced the launch of the bipartisan Congressional Preventative Health and Wellness Caucus aimed at bringing awareness to the obesity epidemic in the country—Buchanan serves as the Vice Chairman U.S. House Ways and Means Committee and Chairman of the Health Subcommittee.

The economic and social implications of obesity are profound. The Joint Economic Committee economists projected that Medicare and Medicaid would spend $4.1 trillion on obesity-related diseases from 2024 to 2033. Additionally, the Center for Disease Control (CDC) reports that roughly 74% of adults in the U.S. are overweight, including 43% who are obese and childhood obesity also seeing a dramatic rise, tripling since the 1970s. The rise of obesity is also posing a national security issue as the rates of obesity in service members have doubled in the past decade with one and three young adults unable to serve in the military because of their weight.

“With a staggering 43 percent of adults and 20 percent of children in the U.S. suffering from obesity, it’s clear we need to get serious about this growing health care crisis and give people the tools they need to tackle this disease and ultimately live longer, healthier and happier lives,” says Buchanan. Congresswoman Gwen Moore (D-WI) echoed this sentiment, expressing her enthusiasm for the caucus’ potential to improve health outcomes for all Americans.

Aside from the creation of the congressional caucus, Buchanan, Congressman McGovern (D-MA), and seven other lawmakers led a bipartisan letter to the Accreditation Council for Medical Education (ACGME) asking the Council to better prepare physicians in treating diet-related diseases and other health related screenings.

Through the caucus, Buchanan aims to address the dangers of obesity in society by proposing new policy-centric solutions. His focus includes prevention, Medical Research and Innovation (MRI), Food as Medicine (FAM), health disparities, stigma and the impact of obesity on military readiness and physical fitness. The bipartisan group plans to achieve these goals by holding congressional hearings on strategies to tackle obesity in healthcare programs, conducting congressional roundtable discussions on regional obesity and quantifying the economic impact of obesity in the United States. 

The start of the 2024 Atlantic hurricane season is just days away, on June 1, and Sarasota County Emergency Management urges residents to prepare and stay alert until the season ends on Nov. 30. "Now is the time to take the steps you need to prepare your family pets, home or business. Know the risks you may face, like storm surge and strong winds. Stay informed throughout the season to help you be as prepared as possible," said Sarasota County Emergency Services Director Rich Collins. "Every storm is different. Do not base your decisions on the last storm or wait until a storm is approaching. Have plans and take action to prepare you and your family now, before hurricane season starts. Know what you will do if you need to evacuate, have a stocked disaster supply kit and a way to stay informed to ensure you're prepared for an emergency," Sarasota County Emergency Management Chief Sandra Tapfumaneyi added. Emergency Management officials recommend updating emergency plans, ensuring contact information is current, refreshing disaster supply kits and checking in on neighbors if possible, especially those new to the area. A crucial part of a preparedness plan is purchasing flood insurance as homeowners’ and renters’ insurance may not cover flood damage. Learn more about flood insurance floodsmart.gov/find. For information about how to prepare for hurricane season and available resources such as the disaster preparedness guide, visit scgov.net/beprepared. 

Exclusive Yachts™, in partnership with BSWANKY, hosted an unforgettable evening of luxury and high fashion at the Hotel Escalante in Naples on May 16. The "Seas the Day'' cocktail party brought together over 70 guests, including Exclusive Yachts members, industry partners, and special invitees for an elegant poolside event that celebrated the best of nautical chic and bespoke fashion. The highlight of the evening was the unveiling of exclusive, yacht-inspired handbags by renowned artist and designer Gretchen Bauer of BSWANKY. These handcrafted pieces, inspired by the sea, showcased exceptional artistry and drew admiration from all attendees. Numerous collectors of BSWANKY handbags were present, and everywhere you turned, these exquisite pieces of art were on display, each transcending traditional fashion to emerge as true masterpieces. "Seas the Day" was not just a party; it was an experience that left an indelible mark on everyone who attended. The fusion of fine living, luxury yachts, and high fashion created an ambiance that was both inspiring and aspirational, celebrating the essence of Gulf Coast luxury. "Our 'Seas the Day' event was a perfect reflection of the Exclusive Yachts experience – luxurious, exclusive, and unforgettable," said David Arredondo, CEO of Exclusive Yachts. "We were thrilled to share our vision and the extraordinary opportunities that our membership offers with such a distinguished audience." Guests were welcomed by a stunning display of Ferrari cars from Ferrari of Naples, setting the tone for an evening of opulence. The event featured live music by the talented violinist Alex Cameron, and custom sketches by artist Tina Dillingham of Keepsake Couture, adding a unique and personal touch to the festivities. 

Nolan Wiggs, CFP®, Trust Officer at Caldwell Trust Company in Sarasota, FL, has attained his Certified Financial Planner™ (CFP®) certification, the standard in financial planning, and has been authorized by the CFP Board to use the CERTIFIED FINANCIAL PLANNER™ and CFP® certification marks. This accomplishment is particularly notable as only 6,207 CFP® professionals, or 6.2%, are aged 20-29, and only 7% of CFP® professionals reside in Florida. Wiggs has worked at Caldwell Trust Company since 2022 and is responsible for assisting clients with managing all aspects of their financial planning, including investing, budgeting, and estate and trust matters. Nolan's journey into the wealth management industry was driven by his passion for helping people and his interest in learning about wealth management. A native of Wilson, NC, Nolan graduated with honors from Campbell University with a Master of Business Administration and a Bachelor of Business Administration (B.B.A.) degree, majoring in Trust and Wealth Management and minoring in Financial Planning. Nolan obtained the Truist Emerging Leaders Certification in 2021 and the BB&T Leadership Institute Certification in 2019. He completed the Southeastern Trust School program in Buies Creek, North Carolina, and the Campbell Business School’s Leadership Development program. During his college career, he served as the Treasurer and scholarship chair of the Kappa Sigma Fraternity – Sigma Phi Chapter. The CFP Board is the professional body for personal financial planners in the U.S., with a total of 100,538 CFP® professionals. The CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public’s benefit. The CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER™ certification. For more about the CFP Board, visit www.CFP.net.

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