1507 South St, Key West
Monroe County Real Estate - Key West
Key West is in South East Florida. It's population as recorded in the 2010 Census was 24,649. Key West is approximately 129 miles from Miami (population 399,457) and around 130 miles from Hialeah (population 224,669).
The median age for residents of Key West is 41.5. Around 19.9% of Key West households include school aged children and 22.9% of households include individuals aged 65 years or over. Census records indicate 83.7% of the Key West population are White, 9.7% are Black or African American, .4% American Indian, 1.6% Asian and 2% are Two or more Races. Key West has a significant Hispanic population. 21.2% (5,228) of Key West residents are of Hispanic or Latino origin. Of these 11.59% are of Mexican origin, 7.74% Puerto Rican, 46.32% Cuban and 34.33% are of other Hispanic or Latino origin.
There are 14,107 housing units in Key West. 3,178 (22.5%) of these were reported as vacant in the 2010 Census. Key West is a tourist destination, 60.8% (1,935) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 6,941 residential rental units in Key West. 6,409 of them were occupied in 2010 providing a residential rental vacancy rate of 7.1%.
Key West 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 | |
|---|---|---|---|---|
| 1509 South St | Single Family | 1,746 | B |
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| 1505 South St | Single Family | 375 | B |
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| 1506 Seminary St | Multi-family - less than 10 units | 1,269 | B |
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| 1511 South St | Single Family | 1,536 | B |
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| 1508 Seminary St | Multi-family - less than 10 units | 1,863 | B |
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| 1504 Seminary St | Single Family | 1,225 | B |
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| 1503 South St | Single Family | 1,260 | B |
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| 1510 Seminary St | Single Family | 576 | B |
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| 1502 Seminary St | Single Family | 780 | B |
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| 1506 South St | Single Family | 1,704 | B |
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| 1510 Seminary St | Single Family | 812 | B |
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| 1513 South St | Multi-family - less than 10 units | 1,792 | B |
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| 1508 South St | Single Family | 876 | B |
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| 1504 South St | Multi-family - less than 10 units | 2,000 | B |
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| 1502 South St | Multi-family - less than 10 units | 2,353 | B |
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| 1500 Seminary St | Condominium | 525 | L |
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| 1500 Seminary St | Condominium | 686 | L |
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| 1500 Seminary St | Condominium | 489 | L |
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| 1500 Seminary St | Condominium | 525 | L |
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| 1500 Seminary St | Condominium | 525 | L |
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| 1500 Seminary St | Condominium | 513 | L |
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| 1317 Thompson St | Single Family | 1,594 | B |
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| 1514 South St | Single Family | 920 | B |
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| 1500 South St | Multi-family - less than 10 units | 1,603 | B |
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| 1513 Washington St | Single Family | 1,321 | B |
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| 1513 Seminary St | Single Family | 1,654 | C |
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| 1517 Washington St | Single Family | 1,073 | B |
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| 1505 Washington St | Vacant Residential | 0 | L | |
| 1521 Seminary St | Single Family | 912 | B |
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| 1509 Seminary St | Single Family | 476 | B |
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| 1329 South St | Multi-family - less than 10 units | 2,790 | B |
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| 1322 Thompson St | Single Family | 1,552 | B |
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| 1503 Washington St | Single Family | 2,466 | B |
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| 1332 Seminary St | Condominium | 501 | L |
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| 1332 Seminary St | Condominium | 850 | L |
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| 1332 Seminary St | Condominium | 623 | L |
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| 1503 Seminary St | Single Family | 1,160 | C |
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| 1523 Seminary St | Single Family | 792 | B |
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| 1523 Washington St | Single Family | 2,094 | B |
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| 1318 Thompson St | Single Family | 1,519 | B |
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| 1501 Washington St | Single Family | 858 | B |
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| 1501 Seminary St | Multi-family - less than 10 units | 1,834 | B |
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| 1529 Seminary St | Utility | 550 | B |
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| 1430 South St | Single Family | 1,746 | B |
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| 1600 South St | Single Family | 1,800 | B |
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| 1328 Seminary St | Condominium | 1,190 | L |
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| 1328 Seminary St | Condominium | 812 | L |
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| 1402 Leon St | Single Family | 1,206 | B |
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| 1603 South St | Single Family | 1,320 | L |
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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 72 of all properties in this area. This suggests it would appeal to someone earning around $95,314 per year who should qualify for a mortgage between $190,628 and $238,285.
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 72 of all properties in this area. This corresponds to a rent of $1,570 per month and a monthly household income of $4,402 ($52,824 per year)
Nearby Companies
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1500 Seminary St
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1503 Washington St
1513 Washington St
1508 Washington St
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1608 Seminary St
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1609 Seminary St
1609 Seminary St
1615 United St
1615 United St