ZIP Code · FL

ZIP 33037

Part of Key Largo, FL

Pop. 14,770·Monroe County·30th most expensive ZIP in Florida

Median rent (all units)

$3,690/mo

Year-over-Year

+2.9%

Month-over-Month

-0.6%

vs US Median

+$1,758

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 33037 · $3,690

More expensive than 96% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,690

1 BR

$2,160

2 BR

$2,450

3 BR

$3,230

4 BR+

$3,240

Research median

$2,450/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Florida

Rent in ZIP 33037 changed +2.9% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($86,533) is $2,163 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($2,160); a 2-bedroom is $2,450.

From Zillow's monthly rent index (ZORI) for ZIP 33037. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$44,280/yr

At $3,690/mo median

Location

CityKey Largo

StateFL

CountyMonroe County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+2.9% YoY, -0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 33037 (Key Largo, FL) is majority owner-occupied, has a large retiree population, 41.7% of residents hold a bachelor's degree or higher.

Population

14,770

Median income

$86,533

Median age

53.2

Renters

20.8%

Age distribution

13.6%

15.3%

24.9%

15.2%

31.1%

Under 1813.6%

18–3415.3%

35–5424.9%

55–6415.2%

65+31.1%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

69.8%

29%

White69.8%

Black3.4%

Hispanic29%

Education (25+)

27.5%

24.9%

41.7%

No HS diploma5.9%

HS diploma27.5%

Some college24.9%

Bachelor's+41.7%

Housing tenure

79.2%

20.8%

Owner79.2%

Renter20.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 33037 in Key Largo, FL has changed in 5 years

Income

$67,236 → $86,533

up 28.7%

Population

12,090 → 14,770

up 22.2%

Renter share

22.7% → 20.8%

-1.9 pts

Bachelor's+

38.3% → 41.7%

+3.4 pts

On the earnings side, the typical household in ZIP 33037 in Key Largo, FL now reports about $86,533, up from $67,236 in 2021. The population has grown by 22.2% since 2021, moving from about 12,090 residents to roughly 14,770. Renters now make up 20.8% of households, compared with 22.7% five years ago. College-educated residents now make up 41.7% of adults here, versus 38.3% in 2021.

Community

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Local insights

Tips for renters in ZIP 33037

About renting in ZIP 33037

Last updated: October 17, 2026

ZIP code 33037 covers Key Largo, FL. The median rent here is $3,690/mo as of October 2026. A 1-bedroom rents for a median of $2,160/mo. A 2-bedroom rents for a median of $2,450/mo.

At 51% of local median household income ($86,533/yr), ZIP 33037 ranks as expensive compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 33037?

To keep rent at or below 30% of gross income, you would need to earn at least $148,000/year (about $71/hour full-time) to afford the median rent of $3,690/mo in ZIP 33037. The local median household income is $86,533/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 33037?

Rent in ZIP 33037 has risen 2.9% over the past year.

How does ZIP 33037 compare to other ZIPs in Florida?

ZIP 33037 is one of the pricier among Florida ZIP codes for rent, ranking #30 of 656 at $3,690/mo. Over the year to September 2026, rent in ZIP 33037 changed +2.9%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.