Real Estate Investing in Key Largo, Florida (33037)
Should you buy in 33037 (Key Largo, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 46.1% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 31.1 — hard to cash-flow at these prices.
What’s happening in Key Largo, FL (33037)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 33037 Key Largo
Looking more closely, ZIP 33037 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $1.1M median. It rewards specialists, not generalists.
The 33037 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 33037's metrics run below Monroe County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Who lives in 33037 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Key Largo:
Property Strategy for 33037
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $701,254 | $2,160 | 2.2% | +9.3% | $701,254 |
| 2BR | $757,276 | $2,450 | 2.3% | +9.0% | $378,638 |
| 3BR | $1,109,050 | $3,230 | 2.1% | +10.7% | $369,683 |
| 4BR | $2,409,713 | $3,240 | 1.0% | +12.5% | $602,428 |
| 5BR | $3,890,633 | — | — | +13.6% | $778,127 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 33037 Compare?
| Metric | 33037 | Key Largo | Key West, FL | Florida |
|---|---|---|---|---|
| Home Value | $1,096,981 | $1,096,981 | N/A | $374,697 |
| 5-Year CAGR | 8.0% | 8.0% | N/A | 7.4% |
| Avg Rent | $2,943 | $2,943 | N/A | - |
| Cap Rate | 2.1% | 2.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 33037 (Key Largo, FL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,096,981 |
| Monthly Rent | $2,943 |
| Price-to-Rent | 31.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.2% |
| Cap Rate | 2.1% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +1.3% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | -10.6% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 33037
Population: 13,674
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 33037
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are renters plentiful in Key Largo, FL?
Working renters make up the core of the Key Largo, FL tenant base. The pool is reasonable for investors targeting long-term holds.
Is Key Largo, FL a good market for buy-and-hold investors?
Investors tracking Key Largo, FL will find a 3.0/5 rating supported by $1.1M median home values and $2,943/mo rents. That profile suits long-term holders targeting consistent returns.
How strict are landlord regulations in Key Largo, FL?
Key Largo, FL operates under FL law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
Does house hacking make sense in Key Largo, FL?
House hacking in Key Largo, FL is reasonable to execute. Prices around $1.1M and rents of $2,943/mo solid owner-occupant economics.
What type of investing works in Key Largo, FL?
A careful cash-flow rentals with hands-on management strategy Key Largo, FL best. The market produces steady results for that approach at the $1.1M price point.
See what 33037 really looks like for investors
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