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City · 7,068 residents · Monroe County, Florida

Islamorada, Village of Islands , Florida

In Islamorada, Village of Islands, a typical home is worth $919,600 and typical rent is $1,882 a month. Compared with all of Monroe County, the typical home value is 18% higher, typical rent is 6% lower, and the share of households that own their home is 19 points higher.

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  • Typical home value

    $919,600

    18% above the county

    156% above Florida

    • Islamorada, Village of Islands
    • Monroe
    • Florida

  • Typical rent

    $1,882a month

    6% below the county

    13% above Florida

    • Islamorada, Village of Islands
    • Monroe
    • Florida

  • Typical household income

    $87,222a year

    About the same as the county

    17% above Florida

    • Islamorada, Village of Islands
    • Monroe
    • Florida

  • Households that own their home

    85%

    19 points above the county

    17 points above Florida

    • Islamorada, Village of Islands
    • Monroe
    • Florida

Source: U.S. Census Bureau, Average 2020–2024

Islamorada, Village of Islands is in Monroe County. The FHA loan limit ($990,150 for a one-unit home), the fair market rents and the help on this page are those of all of Monroe County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Islamorada, Village of Islands apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Leisure City, the typical home value is $375,100: 59% less than in Islamorada, Village of Islands ($919,600).

  2. Islamorada, Village of Islands has the 12th highest typical home value of the 480 cities in Florida with more than 5,000 people ($919,600).

  3. 85% of households in Islamorada, Village of Islands own their home, against 66% in Monroe County.

  4. Nearby, in Florida City, the typical rent is $1,362: 28% less than in Islamorada, Village of Islands ($1,882).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Islamorada, Village of Islands

What homes there are in Islamorada, Village of Islands, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses, standing on their own, make up 74% of homes here, against 58% in Monroe County.

Year built

The typical year built in Islamorada, Village of Islands is 1982, about the same as in Monroe County (1982).

Homes in Islamorada, Village of Islands are bigger: 60% have 3 bedrooms or more; in Monroe County, 46%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,529 a month

Monroe County: $3,241 a month

Without a mortgage

$1,144 a month

Monroe County: $884 a month

Owners with a mortgage

58%

Monroe County: 46%

Owning costs more in Islamorada, Village of Islands: with a mortgage, the typical cost is $3,529 a month; in Monroe County, $3,241. Without one, $1,144.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Homes in Islamorada, Village of Islands gained value more slowly than in Monroe County: 42% since 2015–2019, against 58%.

The typical rent in Islamorada, Village of Islands stayed about the same over that time: the difference is within the Census margin of error.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureIslamorada, Village of IslandsMonroe CountyFloridaUnited States
Rental vacancy 42.5%19.6%7.6%5.5%
Homeowner vacancy Unreliable estimate2.1%1.4%0.9%
More than one person per room Unreliable estimate4.6%3.3%3.4%
People per household 2.202.332.512.53
Drive alone 68%64%70%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate9%2%3%
Work from home 19%13%16%15%
Other means Unreliable estimate4%2%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

The rental vacancy rate in Islamorada, Village of Islands is 42.5%, higher than in Monroe County (19.6%).

Fewer people live in each home here: 2.20 on average, against 2.33 in Monroe County.

Many people here do not commute at all: 19% work from home; in Monroe County, 13%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Islamorada, Village of Islands?

A typical home costs more than the typical income allows

We start with a typical home in Islamorada, Village of Islands, worth $919,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 103% of the typical household income in Islamorada, Village of Islands, which is $87,222 a year. For that payment to be 28% of income, a household would need to earn about $322,048 a year.

The calculator's FHA and conventional loan limits are those of all of Monroe County.

Your numbers

Local data
$

Starts at the typical home value in Islamorada, Village of Islands. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $32,186 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$7,514

at 7.18% · 30 years

Loan amount
$902,944
Total interest
$1,299,124
Paid off in
November 2056

Includes $15,530 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,035 a month

  • Tight

    $2,035 to $2,617 a month

  • Hard

    more than $2,617 a month

    Your payment · 103%

Compared with the typical household income in Islamorada, Village of Islands ($87,222 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$7,514
Principal & interest$6,117
Property tax$460
Home insurance$383
FHA mortgage insurance (MIP)$555

You need at least $32,186 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Islamorada, Village of Islands and Monroe County

Islamorada, Village of Islands is in Monroe County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Islamorada, Village of Islands's own numbers

Typical home value
$919,600
Typical monthly rent
$1,882
Typical yearly household income
$87,222
Households that own their home
85%
Effective property tax rate
0.6%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Monroe County

FHA limit, one-unit home
$990,150
Conventional limit, one unit
$990,150
HUD fair market rent, 2 bedrooms
$2,254
Price change over 5 years (FHFA)
+61%
Homes in a high flood-risk zone
89%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Monroe County.

Everything about Monroe County

Buying

Buying a home in Islamorada, Village of Islands

A typical home in Islamorada, Village of Islands is worth $919,600: 18% above the county and 156% above Florida. With the typical household income in Islamorada, Village of Islands ($87,222 a year), a typical home costs 10.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Islamorada, Village of Islands 10.5 years
  • Monroe 8.9 years
  • Florida 4.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Monroe County

According to FHFA’s house price index, home prices in Monroe County rose 118% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Monroe County.

Period County Florida U.S.
Last year (2025) +2.1% −0.5% +2.9%
5 years (2020–2025) +61% +60% +47%
10 years (2015–2025) +118% +127% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Islamorada, Village of Islands next to Monroe County, Florida and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Islamorada, Village of Islands $919,600
  • Monroe $780,600
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Islamorada, Village of Islands $1,882
  • Monroe $1,999
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Islamorada, Village of Islands $87,222
  • Monroe $87,738
  • Florida $74,568
  • United States $80,734
See the full table
Islamorada, Village of Islands next to Monroe County and Florida
Measure Islamorada, Village of Islands Monroe County Florida U.S.
Typical home value $919,600 $780,600 $359,000 $332,700
Typical monthly rent $1,882 $1,999 $1,669 $1,413
Typical yearly household income $87,222 $87,738 $74,568 $80,734
Households that own their home 85% 66% 68% 65%
Typical yearly property tax $5,473 $4,129 $2,730 $3,119
Effective property tax rate 0.6% 0.53% 0.76% 0.94%
Renters with high rent for their income 58% 64% 60% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Monroe County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Islamorada, Village of Islands

For a typical $919,600 home in Islamorada, Village of Islands, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Islamorada, Village of Islands's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $7,514a month

    Least cash to close
    Down payment
    $32,186
    Cash to close
    $59,774
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $555

  • Conventional, 5% down $7,198a month

    Down payment
    $45,980
    Cash to close
    $73,568
    Rate
    7.18%
    Mortgage insurance
    PMI · $437

  • Conventional, 20% down, no PMI $5,827a month

    Down payment
    $183,920
    Cash to close
    $211,508
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $6,677a month

    Down payment
    $137,940
    Cash to close
    $165,528
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Islamorada, Village of Islands and for Monroe County.

Property tax

Effective rate in Islamorada, Village of Islands

0.6%of the home’s value each year

$5,473 a year for the typical owner in Islamorada, Village of Islands.

  • Islamorada, Village of Islands 0.6%
  • Monroe 0.53%
  • Florida 0.76%

What Florida publishes Homestead exemption (Florida Department of Revenue)

Exemptions and deadlines in Florida

Flood risk in Monroe County

FEMA does not publish these numbers by city: they are for all of Monroe County.

Homes in the high-risk zone
89%
34,033
Of those, with NFIP insurance
61%
County Florida U.S.
Homes in the high-risk zone 89% 13% 3.5%
Of those, with NFIP insurance 61% 67% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Islamorada, Village of Islands

Typical rent in Islamorada, Village of Islands is $1,882 a month: 6% below the county. In Islamorada, Village of Islands, 58% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Monroe County, by unit size. To pay the 2-bedroom one ($2,254 a month) without spending more than 30% of your income, you would need to earn $43.35 an hour working full time.

HUD fair market rent for all of Monroe County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,554 $29.88 $62,160
1 bedroom $1,990 $38.27 $79,600
2 bedrooms $2,254 $43.35 $90,160
3 bedrooms $2,973 $57.17 $118,920
4 bedrooms $2,984 $57.38 $119,360

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Islamorada, Village of Islands

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Islamorada, Village of Islands has 2 ZIP codes with their own.

For 2 bedrooms it is $2,260 in all of them.

2 of the 2 are above the fair market rent for Monroe County ($2,254).

  • 33036 $2,260$2,980
  • 33070 $2,260$2,980

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Islamorada, Village of Islands when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Islamorada, Village of Islands

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Monroe County. The nearest ones are below; many serve by phone or online.

A grandmother smiles, seated at home.

HUD counseling is free or low-cost

Assistance programs in Islamorada, Village of Islands

No down payment, repair or rent-help program on our list is for Islamorada, Village of Islands or Monroe County. The ones below are statewide in Florida: they work in Islamorada, Village of Islands the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Islamorada, Village of Islands

The HUD-approved agencies closest to the center of Islamorada, Village of Islands, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Centro Campesino, Farmworkers Center, Inc

    35801 SW 186th Ave, Florida City · 31 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 8 more
    305-245-7738-227

  • Operation Hope- Homestead FL

    777 N Krome Ave, Homestead · 34 miles away · Spanish

    • Mortgage delinquency workshops
    • Budget and financial counseling
    • and 3 more
    (786) 326-6172

  • Real Estate, Education and Community Housing, Inc.

    7875 NW 12th St, Doral · 57 miles away · Spanish

    Also serves in Creole.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 5 more
    (786) 260-6821

All counseling agencies in Florida

Help in Spanish near Islamorada, Village of Islands

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Islamorada, Village of Islands

HUD’s record names them for Islamorada, Village of Islands or Monroe County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Monroe County Housing Authority Public housing and Section 8 vouchers (305) 296-5621

One other authority has an office in Monroe County: see the list Source: HUD

Cities

Other cities in Monroe County

These cities are also in Monroe County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Monroe County Housing in Florida

Nearby cities

The cities closest to Islamorada, Village of Islands, with the typical home value.

Neighboring counties

If Monroe County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Islamorada, Village of Islands.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Islamorada, Village of Islands

Short answers with the numbers for Islamorada, Village of Islands and all of Monroe County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Islamorada, Village of Islands?

The typical home value in Islamorada, Village of Islands is $919,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Monroe County it is $780,600.

How much does it cost to rent in Islamorada, Village of Islands?

Typical rent in Islamorada, Village of Islands is $1,882 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Monroe County is $2,254.

What is the FHA loan limit in Islamorada, Village of Islands?

Islamorada, Village of Islands uses the FHA limit for all of Monroe County (2026): $990,150 for a one-unit home and $1,904,150 for a four-unit home.

How much property tax do owners pay in Islamorada, Village of Islands?

The typical homeowner in Islamorada, Village of Islands pays $5,473 a year, according to the U.S. Census Bureau. That is 0.6% of the home’s value; in Monroe County, the rate is 0.53%.

Where can I find free help to buy or rent in Islamorada, Village of Islands?

We found no HUD-approved counseling agencies with an office in Monroe County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).