Performance indicators for the Islamorada short-term rental market based on reliable data.
Listings
Reliable / Active
Cap Rate
Middle-Earners Gross Yield
Revenue
Middle-Earners Revenue
Occupancy
Middle-Earners Occupancy
Home Value
Median Home Sale Price
Top Earners
Top-Earners Revenue
The highest-performing listings in Islamorada.
Loading top listings...
Challenging to Investors
Islamorada explicitly allows short‑term rentals but imposes a 331‑license cap, requires properties to meet high assessed‑value thresholds ($708k–$1.06M) and a multi‑layered licensing process (state, county, village, fire safety) with annual fees of $1,325 plus inspection costs. The 7‑day minimum stay in residential zones and non‑transferable licenses further restrict operational flexibility, making compliance costly and cumbersome.
Local STR Agent
STR specialist · Islamorada, FL
Islamorada is a string of small islands in the Upper Florida Keys, in Monroe County, Florida. With a year-round population of roughly six thousand residents, the village carries a relaxed, sun-soaked character that blends old Florida fishing-village roots with a polished, tropical-resort feel. It is widely billed as the "Sport Fishing Capital of the World" and serves as a natural gateway between the mainland and the more remote Lower Keys, drawing anglers, divers, and road-trippers traveling the Overseas Highway. Islamorada sits about eighty miles south of Miami, a drive of roughly an hour and a half across a chain of bridges and causeways that span open ocean on the way down.
A short drive north brings visitors to John Pennekamp Coral Reef State Park, located on Key Largo about twenty-five to thirty minutes from the heart of Islamorada. The park protects the only living coral reef in the continental United States and is a marquee destination for snorkeling, scuba diving, and glass-bottom boat tours, with clear shallow water that stays warm most of the year.
Closer to home, Indian Key State Park is a small, uninhabited island roughly fifteen to twenty minutes by kayak or small boat from Upper Matecumbe Key. Visitors come for the short hiking trail, the remains of a nineteenth-century wrecking settlement, and the surrounding seagrass flats that are popular for paddling and birdwatching.
In the village itself, the History of Diving Museum highlights the area's deep ties to undersea exploration, with exhibits on diving equipment, treasure salvaging, and marine science. A few minutes down the road, Theater of the Sea is a family-run marine park on Plantation Key that has been welcoming visitors since the nineteen forties, offering guided encounters with dolphins, sea lions, and sea turtles along with lagoon swims and reef trips.
A few miles south on the Overseas Highway, Lignumvitae Key preserves a rare tropical hardwood forest that can only be reached by boat. Guided tours led by park staff offer a quieter counterpoint to the reef-and-fish focus of the rest of the Keys, with trails winding beneath trees more common to the Caribbean than to South Florida.
Islamorada works as a short-term-rental base because it offers the natural appeal of a destination village while still putting the rest of the Keys within easy reach. Guests can spend mornings fishing or diving, afternoons at a small local museum or a quiet state park, and evenings at one of the village's bayside restaurants, all without ever leaving the island chain. With Miami a comfortable day trip to the north and Key West reachable in a few hours to the south, the village occupies a sweet spot for travelers who want tropical scenery, water-based recreation, and a slower pace of life.