Florida · County intelligence
Monroe County vacation rental market
5 tracked short-term rental markets sit inside Monroe County. Across them, nightly rates model at $343 and occupancy at 67%, for roughly $84,700 of gross annual revenue on a three-bedroom home.
Markets in Monroe County
| # | Market | Modelled annual revenue | Nightly rate | Occupancy | Peak season |
|---|---|---|---|---|---|
| 1 | Key West, FLMonroe County | $108,300 | $412 | 72% | Jan–Feb–Mar |
| 2 | Islamorada, FLMonroe County | $92,300 | $372 | 68% | Jan–Feb–Mar |
| 3 | Marathon, FLMonroe County | $83,900 | $338 | 68% | Jan–Feb–Mar |
| 4 | Key Largo, FLMonroe County | $75,200 | $312 | 66% | Jan–Feb–Mar |
| 5 | Big Pine Key, FLMonroe County | $63,800 | $282 | 62% | Jan–Feb–Mar |
Why the county matters
Short-term rental rules in Monroe County rarely sit in one place. A home inside an incorporated city usually answers to that city's ordinance, while a home in unincorporated Monroe County answers to the county — often with different licence, inspection and minimum-stay requirements. County-level tourist development tax normally applies either way, on top of state sales tax.
Before buying, confirm two things: which jurisdiction the parcel actually sits in, and whether that jurisdiction caps or zones short-term rentals.
Rule status by market
- Key WestStatus unpublished
- IslamoradaStatus unpublished
- MarathonStatus unpublished
- Key LargoStatus unpublished
- Big Pine KeyStatus unpublished
We have not yet verified an official Monroe County ordinance against a primary source, so no rule position is stated here. Always confirm with the county before committing.
Operating costs are modelled at 32% of gross revenue for a nightly rental (cleaning, supplies, utilities, platform fees, maintenance, insurance) and 14% for a monthly rental. Financing assumes a 25% down payment and a 30-year loan at 7%. These are planning assumptions, not quotes — replace them with your own numbers.
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