Area & investment guide
Marathon, mile marker 50: the working heart of the Keys
- Restaurants in town
- 60+
- Restaurants in town
- Sq ft of retail
- 870k
- Sq ft of retail
- Own airport + hospital
- MTH
- Own airport + hospital
- Min. vacation rentals OK
- 7-day
- Min. vacation rentals OK
The honest numbers
What buying in the Keys actually costs
Most Keys real-estate marketing skips the two questions every serious buyer researches first: insurance and regulation. Here are the numbers, with sources.
Insurance: construction quality is the variable
Combined windstorm, flood, and homeowners coverage on older, ground-level Keys homes can run to $30,000 per year (bestfloridakeysrealestate.com). Elevated, steel-reinforced concrete homes with impact-rated glass typically land in the $8,000–$13,000 combined range, and elevation 10+ feet above base flood elevation can qualify for preferred-risk flood rates. After Hurricane Irma made landfall in the Keys as a Category 4 in 2017, FEMA’s building-performance studies documented modern elevated concrete homes surviving with minimal damage (fema.gov). Every Marlin Bay residence is built to that standard: steel-reinforced CMU, impact windows and doors rated to 150+ mph, triple-galvanized tie-downs.
Rentals: Marathon’s 7-day rule is the exception
Most of unincorporated Monroe County requires 28-day minimum rentals. The City of Marathon licenses vacation rentals with 7-day minimums — which is why managed waterfront homes here report roughly $200,000 first-year gross rental income(paraisovacationrentals.com). The 13 existing Marlin Bay residences operate today inside the resort’s rental program; owners can continue that income stream from day one.
Supply: ROGO makes permits the scarce asset
The Rate of Growth Ordinance caps new Keys building permits to keep hurricane-evacuation clearance under 24 hours — roughly ten market-rate allocations per quarteracross all of Monroe County (monroecounty-fl.gov). Land in the Keys is functionally sold out; what’s scarce is the legal right to build. Marlin Bay’s Development Agreement, recorded with the City of Marathon in February 2024, entitles all 84 homes — 13 built, 71 to come.
1031 exchanges: finished homes fit tight windows
Exchange buyers must identify replacement property within 45 days and close within 180. Pre-construction can’t make those windows — existing, closable homes can. The Founders’ 13 are deeded single-family residences suited to identification today (consult your qualified intermediary and tax advisors).
Getting here
Remote enough to matter, connected enough to work
- 2.5 hours by car from Miami International via the Overseas Highway
- Marathon's own airport (MTH) handles private and charter traffic
- Fishermen's Community Hospital and 870,000 sq ft of retail in town
- Boot Key Harbor, Sombrero Beach, and the Seven Mile Bridge minutes away
- World-class flats, reef, and Gulf Stream fishing in every direction
Researching the Keys?
The questions buyers actually ask
Is Marathon, FL a good place to buy a house?
Marathon is the commercial center of the Middle Keys: 60+ restaurants, 870,000 sq ft of retail, Fishermen's Community Hospital, and its own airport. For buyers it combines the Keys' scarcest asset — legally permitted homesites under ROGO — with the county's most owner-friendly vacation-rental rule (7-day minimum rentals allowed, versus 28-day minimums in most of unincorporated Monroe County). New-construction waterfront trades at $1,000–$1,175 per square foot in 2025-2026.
How much is home insurance in the Florida Keys?
For older, ground-level homes, combined windstorm, flood, and homeowners coverage can reach $30,000 a year. For elevated, steel-reinforced concrete homes with impact glass — like the residences at Marlin Bay — combined premiums typically run in the $8,000–$13,000 range, and elevated construction 10+ feet above base flood elevation can qualify for preferred-risk flood rates. Modern Keys construction standards were validated by Hurricane Irma (Cat 4, 2017): FEMA case studies document elevated concrete homes in the Keys surviving with minimal damage.
Can you rent your house short-term in Marathon?
Yes — Marathon allows vacation rentals with 7-day minimum stays (with a city license), one of the most permissive rules in the Keys, where most unincorporated areas require 28-day minimums. Managed waterfront homes in Marathon have reported roughly $200,000 in first-year gross rental income (paraisovacationrentals.com).
What is ROGO in the Florida Keys?
ROGO — the Rate of Growth Ordinance — is the state-mandated system that caps new building permits in the Keys to keep hurricane evacuation times under 24 hours. Monroe County issues roughly ten market-rate allocations per quarter county-wide, which makes already-entitled projects like Marlin Bay (fully approved for 84 homes under a February 2024 Development Agreement with the City of Marathon) effectively irreplaceable.
How far is Marathon from Miami?
Marathon sits at Mile Marker 50, the midpoint of the Keys — roughly 115 miles / 2.5 hours by car from Miami International Airport, 45 minutes from Key West by air via Marathon's own airport (MTH), and immediately adjacent to the Seven Mile Bridge, the gateway to the Lower Keys.
Is the Florida Keys a good real-estate investment?
The Keys combine hard supply constraints (ROGO permit caps, no land to expand) with durable vacation demand. Marathon single-family averages ran ~$2.4M in 2025 listings. Buyers should weigh real carrying costs — insurance, HOA, and maintenance — against rental income potential of ~$200k/yr gross for managed waterfront homes and the scarcity value of permitted waterfront stock.
Walk the docks with us — this week
Call the sales gallery to receive the full participation package, the current price release, and a private tour of the thirteen residences.
Reserve today · All 13 placed within 90 days · Move-in ready at closing