RANK #141 / 1001 NAT · #4 / 41 FL · POP 81,860
1YR FORECAST: -0.0%
5YR OUTLOOK: +35%
Monroe County, Florida, is defined by the Florida Keys, a chain of islands stretching over 100 miles into the Gulf of Mexico, with Key West serving as the county seat. This southernmost county in Florida is known for its tropical climate, clear waters, and abundant outdoor recreation. Residents and visitors enjoy activities like snorkeling and diving at John Pennekamp Coral Reef State Park, the country's first underwater state park, or exploring the sandy beaches of Bahia Honda State Park. The Overseas Highway connects the Keys, though commute times can vary. The public school district, headquartered in Key West, is considered above average.
Life in Monroe County often revolves around its unique island environment. The economy is heavily influenced by tourism, which supports a significant number of local jobs and contributes to tax revenues. This visitor-driven economy helps fund community projects and infrastructure improvements, lessening the tax burden on residents. Recent economic developments include ongoing investments in infrastructure, such as road stabilization and improvements to transportation facilities like Key West International Airport, aimed at enhancing resilience against environmental challenges. The county is also seeing proposals for new data centers, reflecting broader trends in digital infrastructure investment.
Monroe County is one of 76 U.S. counties in this market profile — stronger than typical on the BoomTown Index. Within this cohort, its recent home-price change of -2.2% runs above the profile's typical -3.7%.
See all 76 Sun Belt Post-Surge Correction counties →Overvalued relative to economy
Prices declining
Above national median (15x)
Housing looks overvalued at 21.8x — home prices are high relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Datacore Innovations Data Center Campus
Datacore Innovations LLC (Capital Land Group LLC)
|
$1,120M | Proposed |
|
Google Data Center
Google
|
$1,100M | Planned |
|
Monroe County Capital Improvement Program (2024-2028)
Monroe County
|
$339M | Planned |
|
Key Largo Affordable Workforce Housing Units
Gorman & Company LLC
|
$50M | Planned |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 1001 counties.
Monroe County ranks #141 out of 1001 U.S. counties on the Boom Town Index with a score of 86/100, placing it in the top tier nationally. Median household income is $87,738 and the underlying growth metrics (housing, migration, income) hold up against peer counties.
Affordability is a real challenge in Monroe County. The median home is valued at $780,600 — with an income-to-home-value ratio of just 0.11, that's significantly harder to afford than in most U.S. counties. Median rent runs $1,999/month.
Population and employment in Monroe County are both close to flat — population +0.0% YoY and jobs +0.3%. Home values shifted -2.2% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.
There's a moderate stream of newcomers. About 3.6% of residents moved from another state, which is above average and suggests Monroe County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.