Monroe County Real Estate and Livability Trends
Monroe County, Florida's real estate market has seen substantial changes over the past decade. Average taxable income per tax return has more than doubled, potentially driving demand and property prices higher despite rising state and local income taxes. Home values have nearly doubled from $386,400 in 2015 to $696,900 in 2022, significantly outpacing state and national averages. Property crimes... Read more
Monroe County Market Trends
Monroe County, Florida's median home values skyrocketed from $386,400 in 2015 to $696,900 in 2022, far surpassing state and national averages—possibly signaling strong demand and limited supply. Average real estate taxes also saw a notable rise from $6,734.56 in 2012 to $11,456.36 in 2021, hinting at growing property values. The county's increased residential energy tax credits, peaking at... Read more
Median Value of Occupied Housing Units in Monroe County, Florida Over the Last 8 Years
Monroe County, Florida saw its median home values rise from $386,400 in 2015 to $696,900 in 2022, far outpacing both the Florida state average, which climbed from $159,000 to $292,200, and the national average, which moved from $125,500 to $179,400 over the same period. This rapid growth might suggest strong demand and limited supply in Monroe County, making it a potentially lucrative but competitive market for investors and homebuyers.
Residential Energy Tax Credit Per Tax Return in Monroe County, FL Over the Last 9 Years
Monroe County, Florida has seen notable fluctuations in the average residential energy tax credit per tax return over the past nine years. From 2013 to 2017, the credit steadily increased from $802.20 to $1,115.48. The largest spike occurred in 2018 at $2,442.86, hinting at significant investment in residential energy efficiency. Although the amount slightly dipped to $1,490.57 in 2019, it regained momentum, peaking again at $2,144.62 in 2021. This trend reflects growing incentives for energy-efficient homes, making this an attractive area for eco-conscious investors and homeowners.
Average Real Estate Taxes Per Tax Return in Monroe County, FL Over the Last 10 Years
Over the last decade, Monroe County, Florida has experienced a notable increase in average real estate taxes per tax return, climbing from approximately $6,734.56 in 2012 to around $11,456.36 in 2021. This steady rise, peaking at $11,769.62 in 2020, suggests growing property values and possibly increased government spending on infrastructure or services. For those considering investing, moving, or developing property here, understanding these trends can provide valuable insights into the long-term financial commitments and potential for property value appreciation.
Percentage of Farm Returns in Monroe County, FL Over the Last 10 Years
Monroe County, Florida has seen a marked decline in farm tax returns over the past decade, dropping from about 0.87% in 2012 to roughly 0.30% in 2021. Farm tax returns typically reflect the number of farms reporting income for tax purposes, indicating the economic health of the agricultural sector. For those considering investment or property development, this trend may hint at shrinking agricultural activities, potentially opening opportunities for alternative land uses or signaling a shift towards other industries. Anyone living in or interested in Monroe County would do well to consider these subtle but telling changes in the local economy.
Number of Mortgages by Occupancy Type in Monroe County, FL Over the Last 5 Years in Monroe County
In the last five years, Monroe County, Florida has experienced fluctuations in mortgage counts across different occupancy types. Notably, principal residences consistently dominate the market, peaking in 2021 with 5,529 mortgages. Investment properties also saw a notable yet smaller surge in 2021. The year 2022 marked a significant drop across all categories, particularly for principal residences and second homes. This could imply shifting economic conditions, financial incentives or disincentives, or changing buyer preferences within the county. For investors, developers, real estate agents, and appraisers, these occupancy trends can indicate market stability, potential demand shifts, or lucrative opportunities based on occupancy classes. Understanding these patterns is crucial for making informed and strategic decisions in Monroe County's real estate market.
Economic Outlook
Monroe County, Florida has seen a dramatic increase in average taxable income per tax return, growing from $81,035.12 in 2013 to $195,023.03 in 2021. This suggests an upward trend in economic capacity which could boost property demand and prices. However, rising state and local income taxes, which peaked at $82,762.73 in 2020 before slightly dipping, might be a consideration for potential buyers. Total tax liability per tax return has also climbed, reflecting higher incomes or tax policy... Read more
Average Taxable Income per Tax Return in Monroe County, FL over the last 9 years
Monroe County, FL has experienced a notable increase in average taxable income per tax return over the past nine years, with figures jumping from $81,035.12 in 2013 to $195,023.03 in 2021. This steady growth suggests a thriving economic environment, making it an attractive destination for investors, property developers, and potential new residents. The substantial rise in income indicates robust economic health and a likely increase in purchasing power among residents, which can drive further development and prosperity in the region.
Average State and Local Income Taxes Per Tax Return in Monroe County, FL Over the Last 10 Years
In Monroe County, Florida, average state and local income taxes per tax return have seen a notable upward trend over the past decade, starting from $30,944.52 in 2012 and peaking at $82,762.73 in 2020, followed by a slight decrease to $77,344.55 in 2021. This substantial rise indicates a growing fiscal pressure or economic growth in the area, making it vital for potential investors, movers, and property developers to factor in these escalating tax costs when planning their financial strategies.
Average Total Tax Liability Per Tax Return in Monroe County, FL Over the Last 10 Years
Over the past decade, Monroe County, Florida has seen a substantial increase in the average total tax liability per tax return, climbing from $19,270.07 in 2012 to $45,885.39 in 2021. This consistent upward trend illustrates a significant rise in the financial obligations for residents, which may reflect higher incomes or changing tax structures. For potential investors or those considering relocation, this is a crucial factor to consider as it impacts the overall cost of living and property investment returns.
Cost of Living in Monroe County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,569 | $1,950 | $2,853 | $1,518 | $2,075 |
| 1 adult 4 children | $2,569 | $1,593 | $2,190 | $1,518 | $2,107 |
| 2 adults 3 children | $2,569 | $1,593 | $2,471 | $1,518 | $1,779 |
| 1 adult 3 children | $2,569 | $1,301 | $1,808 | $1,518 | $1,874 |
| 2 adults 2 children | $2,023 | $1,304 | $2,089 | $1,344 | $1,379 |
| 1 adult 2 children | $2,023 | $974 | $1,426 | $1,344 | $1,387 |
| 2 adults 1 child | $2,023 | $1,031 | $1,708 | $781 | $1,170 |
| 1 adult 1 child | $2,023 | $666 | $1,045 | $781 | $1,102 |
| 2 adults | $1,597 | $828 | $1,326 | $0 | $894 |
| 1 adult | $1,497 | $452 | $663 | $0 | $793 |
Safety trends & Data
Monroe County, Florida has seen a noticeable dip in property crimes over the past three years, with larceny and theft cases dropping from 268 in 2019 to just 74 in 2022. Burglary incidents also fell sharply, from 57 in 2019 to 5 in 2022. These lower crime rates could make the area more attractive to potential buyers and investors, potentially driving up property values and improving the overall quality of life. However, embezzlement and vandalism haven't decreased as significantly, suggesting... Read more
Property Crime Trends in Monroe County, FL Over the Last 3 Years
Monroe County, Florida has seen a noticeable decrease in property crimes over the past three years. Larceny and theft, which were the most common offenses in 2019 with 268 reported cases, dropped significantly to 159 in 2020 and further down to 74 in 2022. Burglary cases have also reduced drastically from 57 in 2019 to just 5 in 2022. This trend could be appealing for those looking to invest or move to the area, as lower crime rates often correlate with higher property values and a better quality of life. However, crimes such as embezzlement and vandalism show less dramatic decreases, indicating a need for continued vigilance in certain areas.
Demographics
Monroe County, Florida exhibits a balanced gender distribution, with slightly more males than females. The educational landscape suggests a higher predominance of individuals with high school education or some college experience, although a considerable number of residents possess a bachelor’s or higher degree. The age distribution skews towards older demographics, which might influence local healthcare and social services demand. Racially, the county is predominantly White, but there is some... Read more
Race Distribution in Monroe County, Florida (2022)
Educational Attainment in Monroe County, Florida (2022)
Age Distribution in Monroe County, Florida
Citizen Population in Monroe County, Florida (2022)
Political Trends & Data
Monroe County, Florida's political landscape seems to lean slightly Republican, with about 53.5% of votes potentially going to the Republican candidate in the 2020 U.S. Presidential Election, compared to approximately 45.6% for the Democrat. This close margin suggests a competitive two-party dynamic, while third-party influence seems minimal, capturing less than 1%... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Monroe County, Florida, the 2020 U.S. Presidential Election results suggest a slight Republican tilt with approximately 53.5% of votes possibly going to the Republican candidate and around 45.6% to the Democrat. The Libertarian and Green parties appear to have minimal influence, capturing roughly 0.7% and 0.1% of the votes respectively, with other parties garnering slightly over 0.1%. This distribution might indicate a relatively competitive two-party dynamic but with third-party impact likely being negligible.
53.49% of voters voted for the Republican party in the 2020 Presidential Election
45.56% of voters voted for the Democrat party in the 2020 Presidential Election
0.72% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Green party in the 2020 Presidential Election
0.12% of voters voted for the Other party in the 2020 Presidential Election
School Data
Monroe County, Florida has had significant swings in its student-to-teacher ratio over the past decade, with a notable peak at almost 21 students per teacher in 2019, way above the national average of 14. By 2023, the ratio improved to nearly 16 students per teacher. This variability could influence potential residents and investors, as smaller ratios often suggest more personalized attention and potentially better educational outcomes. Real estate professionals might find these changes useful... Read more
Student-to-teacher ratio in Monroe County, Florida over the last 10 years
Monroe County, Florida has experienced notable fluctuations in its student-to-teacher ratio over the last decade, with a striking peak at nearly 21 students per teacher in 2019, far exceeding the national average of 14. Although the ratios tightened in the following years, recent data from 2023 shows an increase to almost 16 students per teacher. Such swings in class sizes may influence decisions for potential residents and investors, as smaller student-to-teacher ratios often indicate more personalized attention and potentially higher educational outcomes. Real estate agents, appraisers, and insurance agents also might find changes in these ratios useful for determining property values and assessing community desirability.
