1st Advantage MortgageIn Monroe County, Florida, the typical household earns $87,738 a year and the typical rent is $1,999. Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Florida before sharing details.
On this page
- Getting oriented in Monroe County
- Income in Monroe County compared with Florida
- What it costs to live in Monroe County
- Work, industries and travel time in Monroe County
- The communities that make up Monroe County
- Neighboring counties at a glance
- A Monroe County household budget, worked through
- People and households in Monroe County
- Reading the Monroe County data as a borrower
- Licensing and complaints for Monroe County
- Steps before you apply in Monroe County
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Monroe County
With an estimated 81,860 residents (ACS 2020 to 2024), Monroe County ranks 39th of 67 in Florida for population. Land area is 983 square miles (2024 Gazetteer), so density runs near 83 per square mile. No metropolitan area includes Monroe County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. Of the 13 Census places inside Monroe County, Key West leads by population with about 25,720; 5 of the 13 are incorporated.
Income in Monroe County compared with Florida
The median household income in Monroe County is $87,738; statewide it is $74,568, so Monroe County runs 18% above Florida as a whole. In the state ranking that is 6th of 67.
| Household income | Monroe County | vs Florida |
|---|---|---|
| Under $35,000 | 18.1% | -4.2 pts |
| $35,000 to $99,999 | 36.8% | -4.2 pts |
| $100,000 to $199,999 | 28.8% | +3.2 pts |
| $200,000 or more | 16.3% | +5.3 pts |
The spread is wide: 45% of Monroe County households make $100,000 or more, and 18% make less than $35,000. Census counts 10.6% of Monroe County residents in poverty, against 12.6% across Florida. Income inequality, measured by the Gini index, comes to 0.517 here. A household earning below the $87,738 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
What it costs to live in Monroe County
Renters in Monroe County pay a median of $1,999 a month, 20% above the Florida figure of $1,669. 64% of renting households spend 30% or more of income on rent, and 34% spend half or more. The median owner-occupied home is valued at $780,600, about 8.9 times the median household income. Owners occupy 66% of homes. Half the housing stock was built before 1982.
| Housing | Monroe County | Florida statewide | Typical U.S. county |
|---|---|---|---|
| Median gross rent | $1,999/mo | $1,669/mo | $877/mo |
| Median home value | $780,600 | $359,000 | $185,300 |
| Owners | 66% | 68% | 75% |
| Rent-burdened renters | 64% | 60% | 45% |
| Burdened owners | 51% | 35% | n/a |
| Mobile homes | 8.3% | 8.0% | n/a |
| Vacant units | 37% | 15% | n/a |
Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Work, industries and travel time in Monroe County
The biggest employer of Monroe County residents, by industry, is arts, lodging and food service at 19% of workers, followed by education and health care (15%). The sharpest difference from the state is in arts, lodging and food service, at 19% locally and 11% for Florida. ACS puts five-year average unemployment at 2.9% in Monroe County. 8% of commuters travel 45 minutes or more each way, and 13% work from home.
| Industry | Share of Monroe County workers | vs Florida |
|---|---|---|
| Arts, lodging and food service | 19.5% | +8.5 pts |
| Education and health care | 15.4% | -5.6 pts |
| Professional and administrative services | 12.4% | -1.8 pts |
| Retail trade | 9.9% | -2.1 pts |
| Construction | 9.4% | +1.2 pts |
| Transportation, warehousing and utilities | 7.4% | +1.0 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Monroe County should have bank statements and tax returns ready.
The communities that make up Monroe County
Here are the 13 most populous of the county's 13 Census places, with income and rent from the same 2020 to 2024 survey. About 92% of Monroe County residents live in one of the 13. Duck Key has the highest median household income on the list ($156,719) and Tavernier the lowest ($50,256), counting places with at least 500 residents. Rent is cheapest in Marathon ($1,633) and steepest in Duck Key ($2,974). No Monroe County place has a separate guide yet; this county page serves all 13.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Key West | city | 25,720 | $87,037 | $2,220 | 85 mi |
| Key Largo | CDP | 13,026 | $85,778 | $1,887 | 50 mi |
| Marathon | city | 9,914 | $89,355 | $1,633 | 59 mi |
| Islamorada, Village of Islands | village | 7,068 | $87,222 | $1,882 | 51 mi |
| Big Pine Key | CDP | 4,258 | $110,134 | $1,724 | 66 mi |
| Stock Island | CDP | 4,162 | $65,515 | $2,013 | 84 mi |
| Big Coppitt Key | CDP | 3,109 | $105,139 | $2,420 | 80 mi |
| Cudjoe Key | CDP | 2,492 | $87,500 | $1,864 | 69 mi |
| Tavernier | CDP | 2,413 | $50,256 | $1,966 | 51 mi |
| North Key Largo | CDP | 1,808 | $149,605 | n/a | 49 mi |
| Duck Key | CDP | 647 | $156,719 | $2,974 | 57 mi |
| Key Colony Beach | city | 511 | $94,231 | $1,929 | 60 mi |
| Layton | city | 118 | $149,583 | $1,833 | 54 mi |
A CDP is a named community without its own municipal government.
Neighboring counties at a glance
The six counties whose centers lie closest to Monroe County's, from 32 to 90 miles away. 1 of the six report a higher median household income than Monroe County; Collier County is highest at $90,045 and Hendry County lowest at $56,393.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Monroe County | - | $87,738 | $1,999/mo | 66% |
| Miami-Dade County, FL | 32 mi | $71,753 | $1,829/mo | 52% |
| Collier County, FL | 44 mi | $90,045 | $1,862/mo | 77% |
| Broward County, FL | 54 mi | $77,633 | $1,907/mo | 64% |
| Hendry County, FL | 66 mi | $56,393 | $1,003/mo | 74% |
| Palm Beach County, FL | 82 mi | $83,581 | $1,916/mo | 70% |
| Lee County, FL | 90 mi | $76,107 | $1,712/mo | 74% |
A Monroe County household budget, worked through
The debt-to-income ratio is the main affordability test lenders use. Applied to Monroe County's medians:
- $87,738 a year is $7,312 of gross monthly income
- Median rent: $1,999, or 27 cents of every gross dollar
- $633: what a 36% ratio leaves once rent is paid
If your rent is above $1,999, the room shrinks dollar for dollar.
People and households in Monroe County
Degree holders: 39% of adults over 25. The uninsured rate is 12.8%, against 11.5% for Florida.
| Residents | Monroe County | Florida | Middle U.S. county |
|---|---|---|---|
| Median age | 49.2 | 42.6 | 41.5 |
| Bachelor's or higher | 38.6% | 34.1% | 22.2% |
| No high school diploma | 6.9% | 10.1% | n/a |
| No health insurance | 12.8% | 11.5% | 7.8% |
| No vehicle | 6.1% | 6.0% | 5.4% |
| Work from home | 13.2% | 15.7% | 8.7% |
| Poverty rate | 10.6% | 12.6% | 13.2% |
| Unemployment (ACS) | 2.9% | 4.8% | 4.4% |
| One-way commute | Share of Monroe County workers |
|---|---|
| Under 15 min | 45.0% |
| 15 to 29 min | 35.5% |
| 30 to 44 min | 11.5% |
| 45 to 59 min | 2.4% |
| 60+ min | 5.7% |
Reading the Monroe County data as a borrower
What the Monroe County figures suggest, and what to check first:
- Uninsured care. 13% lack coverage here; nonprofit hospitals must publish an assistance policy, so ask for it first (guide).
- Retirees. At a median age of 49.2, many borrowers here rely on award letters as proof of income; favor no prepayment penalty.
- Six-figure budgets. For the 45% earning $100,000 or more, lifestyle creep, not approval, is the usual problem.
- Renters under pressure. When 64% pay 30% or more for rent, the smallest loan that solves the problem is the right size.
Licensing and complaints for Monroe County
Licensing happens at the state level, so a lender working with Monroe County borrowers answers to the Florida Office of Financial Regulation. The Consumer Financial Protection Bureau accepts complaints nationwide. See the Florida state guide for the statewide picture.
Steps before you apply in Monroe County
Four checks before you sign anything:
- Know the exact dollar figure you need before talking to a lender.
- Ask each lender for the APR and all fees in writing.
- Look the lender up with the state regulator first.
- Keep a small cushion so one surprise bill does not mean another loan.
Nearby and statewide guides
For statewide rules and data, see the Florida guide.
Frequently asked questions
How much do households in Monroe County earn?
The median is $87,738; 45% earn $100,000 or more and 18% under $35,000. A lender uses your own documented income, not this figure.
Is Monroe County expensive for renters?
Median rent is $1,999 against $1,669 statewide, and 64% of renter households are cost-burdened.
What are the biggest places in Monroe County?
By population: Key West, Key Largo, Marathon, Islamorada, Village of Islands, Big Pine Key. The county has 13 Census places in all.
Will a Monroe County address affect my match?
Beyond confirming Florida as your state, no. Your answers about amount, credit, income and payments are all that count.
Who regulates personal lenders for Monroe County residents?
The Florida Office of Financial Regulation licenses consumer lenders in Florida; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.