Average Rent in Monroe County, FL↑ Rents rising 6.3% YoY🔺 3rd priciest in FL
HUD FY2025 · Official government data · Updated annually · Metro pop. 81,840
Market Overview
Monroe County, FL has rental prices ranging from $1,565/month to $3,344/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,903/month — 36% above the national average of $1,400/month. With a median household income of $82,430/year, spending $1,903/month on a 1-bedroom represents 28% of gross income — within the recommended 30% threshold.
How Monroe County Compares
With an average 2-bedroom rent of $2,274/month, Monroe County ranks #3 most expensive of the 54 cities tracked in Florida — pricier than 99% of all US cities in our data.
The Monroe County Rental Market
The Monroe County, FL area has a population of about 81,840 and 37% of households renting rather than owning. That is close to the US average renter share of ~34%.
Rent Trends
2-bedroom rents in Monroe County, FL have risen by $135/month (6.3%) over the past year, from $2,139 to $2,274. This modest growth is consistent with broader inflationary trends seen across US rental markets.
Affordability
To afford a 1-bedroom apartment in Monroe County, FL without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $76,120. The local median household income of $82,430 exceeds that threshold by $6,310, making Monroe County relatively accessible compared to local wages.
Economy & Jobs
Monroe County, FL has an unemployment rate of 3.3%, 0.6 percentage points below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.
Neighborhoods
Home values — and by extension rent levels — vary significantly across Monroe County's neighborhoods. Among the highest-value areas are New Town ($819,699 median home value), Bahama Village ($843,486 median home value), Midtown ($1,131,556 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.
Fair Market Rents
HUD FY2025Is Monroe County, FL Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in FLlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| West Palm Beach | $1,639 | $1,830 | $2,187 | $2,856 | — |
| Miami | $1,711 | $1,898 | $2,329 | $3,008 | — |
| Fort Lauderdale | $1,768 | $1,929 | $2,388 | $3,297 | — |
| Tampa | $1,566 | $1,686 | $1,978 | $2,533 | — |
| Orlando | $1,636 | $1,727 | $1,958 | $2,486 | — |
| Jacksonville | $1,381 | $1,454 | $1,730 | $2,163 | — |
Rent or Buy in Monroe County?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Monroe County data
Buying breaks even after 1 year — worth it if you stay 1+ years.
Living in Monroe County
Cost of living, job market, crime rates, and moving cost estimates.
Moving Cost Estimator
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Frequently Asked Questions
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💵Rent Affordability in Monroe CountySalary needed to afford rent here
🗺️All Cities in FLSee how Monroe County ranks statewide
⚖️Compare Monroe CountySide-by-side rent & cost of living with any city
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