Fort Myers is one of the top real estate markets to watch in 2024, according to a report from Insurify. The online insurance agency analyzed data from Zillow and the U.S. Department of Housing and Urban Development to determine which markets around the country are most likely to continue booming throughout next year.

Despite the area’s recent designation as a Special Flood Hazard Area by the Federal Emergency Management Agency (FEMA), Fort Myers’ population has grown by 8.1% since 2020. By comparison, the national population grew by only 0.6% during the same time period.

Construction in Fort Myers is keeping up with this population growth, though: approximately 191 new housing units were added per 100,000 residents in the past year. That’s the second-highest rate of residential construction in the country, behind Sarasota.

Despite higher-than-usual insurance rates in states like Florida that are disproportionately affected by climate change, nearly all of Insurify’s markets to watch are located in areas that have been identified by FEMA as “relatively high risk,” including Fort Myers and Sarasota.