82901 Old Hwy, Upper Matecumbe Key
Monroe County Real Estate - Islamorada
Islamorada is in South East Florida. Islamorada is approximately 65 miles from Miami (population 399,457) and around 68 miles from Hialeah (population 224,669).
Islamorada 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 | |
|---|---|---|---|---|
| 82929 Old Hwy | Single Family | 2,697 | B |
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| 82885 Old Hwy | Hotel or motel | 3,632 | A |
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| 82931 Old Hwy | Single Family | 3,306 | B |
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| 82899 Overseas Hwy | Multi-family - less than 10 units | 1,064 | C |
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| 82889 Overseas Hwy | Store, one story | 1,440 | C |
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| 82905 Overseas Hwy | Store, one story | 3,842 | B |
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| 82891 Overseas Hwy | Mixed use - store and office or store and residential or residential combination | 2,036 | B |
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| 82909 Overseas Hwy | Multi-family - less than 10 units | 1,810 | B |
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| 82883 Overseas Hwy | Professional service building | 1,274 | B |
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| 82921 Overseas Hwy | Mixed use - store and office or store and residential or residential combination | 743 | C |
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| 82897 Overseas Hwy | Store, one story | 1,517 | B |
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| 82929 Overseas Hwy | Multi-family - less than 10 units | 2,786 | C |
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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 99 of all properties in this area. This suggests it would appeal to someone earning around $542,576 per year who should qualify for a mortgage between $1,085,152 and $1,356,440.
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 99 of all properties in this area. This corresponds to a rent of $3,473 per month and a monthly household income of $9,151 ($109,812 per year)
Nearby Companies
82891 Overseas Hwy
82905 Overseas Hwy
82883 Overseas Hwy