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Monroe County, FL home buyer guide

Today's mortgage rates, FHA loan limits, and first-time buyer programs available in Key West, Key Largo, Marathon and across Monroe County.

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Monroe County snapshot

Median home price
$925,000
Population
82,000
FHA loan limit (1-unit)
$967,150
County seat
Key West

Monroe County (the Florida Keys) carries the highest FHA loan limit in the state. Insurance, wind mitigation, and elevation drive financing decisions more than any other county.

Today's example payments

Monthly payment on a $925,000 Monroe County home

Estimates include principal, interest, Florida property tax (~0.98%), and homeowners insurance (~1.25%). PMI/MIP varies. Updated June 14, 2026.

Live rates

Conventional

Monthly payment

$7,285

Rate (mid)
6.520%
Down payment
$46,250 (5.0%)
Loan amount
$878,750

5% down · PMI applies

FHA

Monthly payment

$7,154

Rate (mid)
6.145%
Down payment
$32,375 (3.5%)
Loan amount
$892,625

3.5% down · MIP included

VA

Monthly payment

$7,277

Rate (mid)
6.020%
Down payment
$0 (0.0%)
Loan amount
$925,000

0% down · no PMI

Hometown Heroes

Monthly payment

$7,426

Rate (mid)
6.270%
Down payment
$0 (0.0%)
Loan amount
$925,000

Up to $35K assistance

Educational estimates only. Your actual rate and payment depend on credit, debt-to-income, property type, lender pricing, and the exact insurance quote for your home.

Programs available in Monroe County

Every major Florida loan and down payment assistance program is available countywide. These are the ones Monroe buyers use most.

Florida Hometown Heroes

Up to $35,000 in down payment + closing cost assistance for Monroe County teachers, nurses, first responders, and 100+ other essential professions.

Learn more

FHA Loan

3.5% down, flexible credit. Monroe County FHA loan limit is $967,150 for a single-family home.

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Conventional 97%

Just 3% down for qualified first-time buyers in Monroe County. PMI drops off automatically at 20% equity.

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VA Loan

Zero down and no PMI for eligible veterans, active-duty service members, and surviving spouses buying in Monroe County.

Learn more

First-time home buyer guides for Monroe County cities

Tap a city for local rates, payment estimates, and program eligibility.

Key West Key Largo Marathon Islamorada
Monroe County

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