Monroe County, Florida: commercial real estate data.
Monroe County, Florida has a population of 81,860 across 983 square miles, down 2.4 percent since the 2020 census base. County output reached $8.35 bn in 2024, 4,154 establishments operate here, and the SBA record carries 110 7(a) approvals worth $65.3 m.
128 sourced county values · tier FULL · 12 sections
Monroe County
How many people live in Monroe County
- Population81,860
- Households34,405
- Average household size2.38
- Median household income$87,738
- Median age49.2
- Median gross rent$1,999 per month
- Median owner-occupied home value$780,600
- Home value to household income8.9 times
- Annual rent as a share of median income27.3 percent
- Adults 25 and over with a bachelor degree or higher38.6 percent
- Adults 25 and over with a graduate degree15.3 percent
- Adults 25 and over64,618
- Population under 1812,831
- Share under 1815.7 percent
- Population 65 and over20,247
- Share 65 and over24.7 percent
- Working age population, 18 to 6448,782
- Civilian labor force42,729
- Unemployment rate2.9 percent
- Labor force participation, adults 18 and over61.9 percent
- Rank by population among Florida counties39th of 67
- Rank by population among US county-equivalents715th
Monroe County is the 39th largest of 67 Florida counties by population. A median home costs 8.9 times median household income, which is a stretched ownership market and usually shows up as rental demand. Residents 65 and over outnumber those under 18, at 24.7 percent against 15.7 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Monroe County
Is Monroe County growing
- Population change since the 2020 census base-2.37 percent
- Census 2020 base population82,870
- Births, 2024736
- Deaths, 2024713
- Natural change, 202423
- Net domestic migration, 2024-1,374
- Net international migration, 2024942
- Total net migration, 2024-432
- Cumulative net domestic migration, 2021 to 2024-4,218
- Rank by growth among US county-equivalents2587th
The county has lost 2.37 percent of its population since the 2020 census base. Births exceeded deaths in 2024 but more people left than arrived, so the population is being sustained internally rather than attracting.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Monroe County
Where people moving to Monroe County come from
- Tax returns filed by households arriving3,488
- People arriving, from those returns5,641
- Adjusted gross income arriving$915.6 m
- Net adjusted gross income movement$0
- Average income of an arriving household$262,503
- Largest single originMonroe County Non-migrants (33,170 households)
- Largest single destination (33,170 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Monroe County Non-migrants | 33,170 | 56,166 | $6.80 bn |
| Other flows - Different State | 1,935 | 3,146 | $668.4 m |
| Other flows - South | 715 | 1,176 | $317.3 m |
| Other flows - Northeast | 512 | 790 | $169.6 m |
| Miami-Dade County | 464 | 743 | $55.7 m |
| Other flows - Midwest | 392 | 627 | $139.9 m |
| Other flows - West | 316 | 553 | $41.5 m |
| Other flows - Same State | 244 | 399 | $20.8 m |
The largest single source of arrivals is Monroe County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Monroe County
What the Monroe County economy runs on
- County GDP, 2024$8.35 bn
- County GDP, 2023$7.83 bn
- GDP change, 2023 to 20246.7 percent
- GDP change over five years56.7 percent
- Rank by GDP among Florida counties31st
- Rank by GDP among US county-equivalents511th
- GDP per resident$102,001
Output grew 6.7 percent in the latest year and 56.7 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Monroe County
Who employs people in Monroe County
- Covered employment, annual average47,058
- Establishments reporting5,008
- Average annual pay$58,702
- Average weekly wage$1,129
- Sector 72, employment16,956
- Sector 72, average annual pay$45,797
- Sector 44-45, employment5,568
- Sector 44-45, average annual pay$41,773
- Sector 23, employment3,328
- Sector 23, average annual pay$62,084
- Sector 62, employment2,623
- Sector 62, average annual pay$70,274
- Sector 54, employment1,720
- Sector 56, employment1,542
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 72 | 16,956 | 664 | $45,797 |
| Sector 44-45 | 5,568 | 632 | $41,773 |
| Sector 23 | 3,328 | 565 | $62,084 |
| Sector 62 | 2,623 | 276 | $70,274 |
| Sector 54 | 1,720 | 583 | $84,948 |
| Sector 56 | 1,542 | 320 | $67,781 |
| Sector 81 | 1,516 | 395 | $52,967 |
| Sector 53 | 1,399 | 425 | $53,984 |
The largest sector is the biggest private employer group at 16,956 jobs, 36.0 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Monroe County
What businesses operate in Monroe County
- Establishments, all industries4,154
- Employment at those establishments37,134
- Annual payroll$1.78 bn
- Establishments per 1,000 residents50.7
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Monroe County
What is being built in Monroe County
- Housing units authorised by permit, 2024334
- Declared construction value permitted$222.6 m
- Single family units authorised245
- Multifamily units authorised89
- Multifamily share of units26.6 percent
- Average declared value per unit$666,488
- Units authorised per 1,000 households9.7
Multifamily is 26.6 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Monroe County
How much SBA lending happens in Monroe County
- 7(a) approvals recorded110
- 7(a) gross approval dollars$65.3 m
- Average 7(a) approval$593,466
- Median 7(a) approval$253,000
- 10th percentile approval$44,500
- 90th percentile approval$1,900,000
- Largest single approval$3,514,600
- Jobs reported supported, 7(a)833
- Jobs per approval7.6
- Distinct 7(a) lenders active47
- Distinct industries receiving approvals67
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer15.5 percent
- Loans on real estate terms17
- Loans on working capital terms, 120 months or shorter89
- Franchise loans2
- Franchise share of approvals1.8 percent
- Leading industry by approval countFull-Service Restaurants (10)
- Most active lenderReadycap Lending, LLC (10)
- 504 approvals recorded40
- 504 gross approval dollars$42.7 m
- Average 504 approval$1,066,925
- Median 504 approval$579,000
- Distinct CDCs active4
- 504 jobs per approval7.0
- 504 jobs per million dollars approved6.6
- Most active CDCFlorida First Capital Finance Corporation, Inc. (18)
- 7(a) share of SBA approvals73.3 percent
- Combined SBA approval dollars$108.0 m
The average approval of $593,466 sits well above the median of $253,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 15.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Monroe County
Do SBA loans in Monroe County get paid back
- Loans with a final outcome recorded13
- Paid in full13
- Charged off0
- Charge off rate on resolved loans0.0 percent
- Status: Paid in full13
- Status: Exempt from disclosure75
- Status: Cancelled17
- Status: Committed, not yet disbursed5
Of the 13 loans that have reached a final outcome, 0.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Monroe County
Which parts of Monroe County get the lending
- Places in the county with recorded lending10
- KEY WEST, approvals38
- Key Largo, approvals27
- Marathon, approvals18
- Islamorada, approvals8
- Tavernier, approvals7
- SUMMERLAND KEY, approvals6
| Place | Approvals | Gross approval dollars |
|---|---|---|
| KEY WEST | 38 | $24,630,200 |
| Key Largo | 27 | $21,114,200 |
| Marathon | 18 | $7,198,500 |
| Islamorada | 8 | $3,798,400 |
| Tavernier | 7 | $3,470,000 |
| SUMMERLAND KEY | 6 | $1,748,000 |
| Ramrod Key | 3 | $2,334,000 |
| HOMESTEAD | 1 | $42,000 |
KEY WEST accounts for 38 approvals against 27 in Key Largo. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Monroe County
How big is Monroe County
- Land area983 sq mi
- Rank by land area among Florida counties17th of 67
- Width, east to west124.8 mi
- Height, north to south87.1 mi
- Geographies sharing a boundary2
- Residents per square mile of land83
- Establishments per square mile4.23
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Monroe County
What hazards affect Monroe County
- EPA radon zone predicted average indoor radon screening level less than 2 pCi/LZone 3
- Communities in the NFIP Community Status Book6
- Of those, participating in the NFIP6
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 3
- Communities carrying a CRS class6
The EPA places the county in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The best Community Rating System class in the county is 3, which carries a flood insurance premium discount for properties in the participating community.
US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001. FEMA OpenFEMA, NFIP Community Status Book, Community Status Book, as retrieved.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Monroe County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Monroe County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population81,860
- Households34,405
- Average household size2.38
- Median household income$87,738
- Median age49.2
Common questions
Monroe County questions, answered from the record.
How many people live in Monroe County, Florida?
81,860, in 34,405 households, ranking 39th of 67 Florida counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Monroe County growing?
The population has fallen 2.37 percent since the 2020 census base. In 2024 there were 736 births against 713 deaths, with net migration of -432. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Monroe County?
$87,738. The median owner-occupied home is valued at $780,600, which is 8.9 times income, and median gross rent is $1,999 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Monroe County?
4,154 establishments, employing 37,134 people with an annual payroll of $1.78 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Monroe County?
Average annual pay is $58,702, or $1,129 a week, across 47,058 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Monroe County?
110 7(a) approvals totalling $65.3 m since FY2020, across 47 lenders, with a median approval of $253,000, plus 40 504 approvals worth $42.7 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Monroe County get paid back?
Of the 13 loans that have reached a final outcome, 13 were paid in full and 0 charged off, a charge off rate of 0.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Monroe County?
334 housing units were authorised by permit in 2024, with a declared construction value of $222.6 m. Multifamily was 26.6 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Monroe County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Monroe County come from?
The largest single origin is Monroe County Non-migrants, with 33,170 households. Arriving households report an average income of $262,503 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Monroe County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Monroe County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.