Total monthly cost of ownership
Cost to Own a Home in North Key Largo, Florida
A $1,858,000 home here costs
$13,081per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $9,552. The real number is $3,529 higher every month — 37% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
North Key Largo against Monroe County and Florida
| Measure | North Key Largo | Monroe County |
|---|---|---|
| Median home value | $1,858,300 | $723,800 |
| Median property tax | $7,841 | $3,943 |
| Effective tax rate | 0.422% | 0.545% |
| Median gross rent | — | $1,959 |
| Population | 1,630 | 81,840 |
The weather behind that power bill
North Key Largo sits in Monroe County, which averages a high of 92.6°F in its hottest month and a low of 53.1°F in its coldest, with 55.28" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 4,136 cooling and 230 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Monroe County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monroe County
Common questions
How much does it cost to own a home in North Key Largo?
A $1,858,000 home in North Key Largo, Florida costs approximately $13,081 per month with 20% down at 6.66%. That is $9,552 principal and interest, $653 property tax, $1,123 homeowners insurance, $204 utilities and $1,548 set aside for maintenance.
What is the property tax rate in North Key Largo?
North Key Largo has an effective property tax rate of 0.422%, based on a median home value of $1,858,300 and median real estate taxes of $7,841. That is lower than the Monroe County average of 0.545%.
What is the average home price in North Key Largo?
The median owner-occupied home value in North Key Largo, Florida is $1,858,300, against $723,800 across Monroe County.
Is it cheaper to rent or buy in North Key Largo?
Rent data is not published for North Key Largo at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for North Key Largo — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Florida.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.