116 7th Ln, Key Largo
Monroe County Real Estate - Key Largo
Key Largo is in South East Florida. It's population as recorded in the 2010 Census was 10,433. Key Largo is approximately 50 miles from Miami (population 399,457) and around 54 miles from Hialeah (population 224,669).
The median age for residents of Key Largo is 47.8. Around 21.9% of Key Largo households include school aged children and 29.9% of households include individuals aged 65 years or over. Census records indicate 93% of the Key Largo population are White, 2.3% are Black or African American, .5% American Indian, .7% Asian and 1.8% are Two or more Races. Key Largo has a significant Hispanic population. 23.6% (2,471) of Key Largo residents are of Hispanic or Latino origin. Of these 21.2% are of Mexican origin, 4.97% Puerto Rican, 55.84% Cuban and 17.96% are of other Hispanic or Latino origin.
There are 8,459 housing units in Key Largo. 3,753 (44.3%) of these were reported as vacant in the 2010 Census. Key Largo is a tourist destination, 78.2% (2,938) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 1,922 residential rental units in Key Largo. 1,607 of them were occupied in 2010 providing a residential rental vacancy rate of 14.7%.
Key Largo links:
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Monroe County
Monroe County is part of the southeast Florida region along with Miami-Dade, Indian River, St. Lucie, Martin, Palm Beach, and Broward. Key West is the county seat. Other incorporated municipalities are Marathon, Key Colony Beach, Layton, and Islamorada. The county's population is over 70,000.
Monroe County is the southernmost county in Florida and the continental United States. 99% of the population of Monroe County lives in the Florida Keys, which are wholly contained within Monroe County. Mainland Monroe County is covered by wetlands. Portions of Everglades National Park and Big Cypress National Preserve form the entirety of the section of Monroe County that lies on the peninsula. 22% of the properties in Monroe County are government owned.
The largest industry in Monroe County is tourism. In 2010, The Keys alone had 3.8 million visitors. Major private sector employers are Kmart, HMA, Baptist Mariner's Hospital, HTA, and Hawks Cay Resort. Public employers are US Armed Forces, Monroe County Schools, Monroe County Government, and Florida Keys Community College.
Visitors go to the Keys for the year-round warm weather, sandy beaches, and stunning vistas of both the Atlantic Ocean and Gulf of Mexico. The islands of the Keys offer a variety of maritime recreation opportunities, including boating, fishing, and windsurfing. The Keys are sometimes referred to as the Conch Republic after the islands seceded from the United States in 1982 and immediately surrendered to protest a blockade at the mainlands to search for drugs.
Once the largest city in Florida, Key West is still the southernmost in the lower 48. The cultural and economic heart of Monroe County is at the southern terminus of US 1. The southern islands have long been a naval base, dating back to its establishment in 1823 to combat piracy. Today, Naval Air Station Key West is used as a forward base to combat the narcotics trade in the Caribbean and as a flight training center.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 112 7th Ln | Single Family | 2,244 | B |
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| 108 7th Ln | Single Family | 1,280 | B |
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| 121 7th Ln | Single Family | 1,472 | B |
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| 115 7th Ln | Single Family | 912 | B |
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| 113 7th Ln | Single Family | 907 | B |
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| 104 7th Ln | Single Family | 1,462 | C |
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| 113 6th Ln | Single Family | 1,200 | B |
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| 109 7th Ln | Single Family | 1,000 | B |
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| 109 6th Ln | Single Family | 1,604 | B |
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| Vacant Land La Paloma Rd | Single Family | 2,908 | A |
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| 105 La Paloma Rd | Single Family | 2,291 | A |
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| 105 7th Ln | Single Family | 988 | B |
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| 105 6th Ln | Single Family | 1,607 | B |
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| 499 La Paloma Rd | Single Family | 980 | C |
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| 101 7th Ln | Single Family | 1,700 | B |
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| 108 8th Ln | Single Family | 2,120 | B |
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| 104 6th Ln | Single Family | 1,800 | B |
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| 104 8th Ln | Single Family | 1,125 | C |
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| 800 Tamerind Rd | Single Family | 1,545 | B |
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| 100 6th Ln | Single Family | 1,380 | B |
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| 108 La Paloma Rd | Vacant Residential | 0 | L | |
| 125 La Paloma Rd | Vacant Residential | 0 | L | |
| 112 La Paloma Rd | Vacant Residential | 0 | L | |
| 100 La Paloma Rd | Single Family | 2,536 | A |
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Local Household Income
The median household income in this part of Florida is $59,750. The bottom 10% of the population earn less than $15,113 per year. The top 10% earn more than $164,280 per year. The top 1% earn more than $542,576 per year. Most renters earn between $26,844 (20th percentile) and $59,088 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $119,500 and $149,375.
The tax assessed value of this property places it in percentile 65 of all properties in this area. This suggests it would appeal to someone earning around $80,966 per year who should qualify for a mortgage between $161,932 and $202,415.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,192. Most renters earn between $2,237 and $4,924 per month. They typically spend 37% of their monthly income on rent. Most rents fall in the $756 (20th percentile) to $1,775 (80th percentile) range. The residential vacancy rate is 10%.
This property falls in percentile 65 of all properties in this area. This corresponds to a rent of $1,440 per month and a monthly household income of $3,945 ($47,340 per year)
Nearby Companies
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