How Much Does it Cost to Live in Marathon, Florida?
Thinking of making Marathon, Florida your home sweet home? Curious about the living costs? You’re in luck! Let’s dive into the average expenses for essentials like rent, housing, food, utilities, and insurance.
Marathon Florida is Expensive.
I’m going to cut right to the chase- living in Marathon, Florida is expensive! Since we are a tiny island in the middle of the ocean, getting nothing here just cost more. From the food you eat to the materials to build a home to the clothes for sale, everything is more expensive. But amidst the higher costs, the island charm and vibrant community make Marathon, Florida a unique and worthwhile place to call home.
Housing is Expensive
Currently, the average sale price of a property here in the Florida Keys is over 1 Million dollars! Now don’t get me wrong, we have options under one million, but that is just the average. A standard single-family home not on the water will cost between 400,000 – 700,000. Once you get into waterfront or larger homes, the price tag just goes up. For a deep look at the Florida Keys Real Estate Market Stats, check out our market page!
Rent is Expensive
If you are looking to rent here in Marathon, Florida, that is expensive too. Not only is it expensive, but it’s super hard to even find a place to rent. A little mobile home will cost you $1,200 a month. Looking for a two-bedroom? That can range anywhere between $2,000 – $2,600 a month.
Food
Food in Marathon is on the pricey side too. Would you believe our bananas are fetching 70 cents a pound? It’s true! When you’re living the Marathon life, you quickly learn the art of hunting for deals. Whether it’s meat, cheese, milk, or anything else on your grocery list, be prepared to pay a premium compared to the mainland. But hey, that’s just part of the adventure of living here in Marathon!
Utilities
Let’s shed some light on utilities in Marathon!
Sewer: It’s tied into your taxes, so fortunately, it’s not a big hit on your monthly bills.
Water (FKAA): A family of 4 can expect to shell out around $130.00 a month for water. If you’ve got a pool, be prepared to pay a bit more – that water evaporates faster than you’d think!
Electric (FKEC): For a family of 4, the average electric bill will run you about $180.00 a month. But come summer, when those air conditioners are cranked up, expect that number to jump to around $220.00 a month.
Cable: We’ve got Xfinity, and we’re looking at around $100.00 a month to keep ourselves entertained.
Insurance
If you’re not used to paying for insurance, get ready for a little shock when you live in Marathon, FL. If you’re getting a mortgage on your home, you’ll need to grab Flood, Wind, and Homeowners insurance. The costs for these can vary greatly depending on your home. On the low end, you might be looking at around $4,000 a year, but on the high end, brace yourself for $12,000 annually. It’s just part of the package when you’re living the island life!
Property Taxes
I’ve got some fantastic news for you! The only thing in Marathon that’s not expensive? Taxes. Property taxes here are the lowest in ALL of Florida. They typically hover just under 1 percent of the purchase price. But to keep things easy, we usually estimate around 1 percent of the purchase price. So, if your home costs $500,000, you’re looking at about $5,000 a year in property taxes. Now, that’s something to smile about!
Conclusion
Yes, Marathon, Florida, is undeniably expensive to live in. But it’s the price you pay for the privilege of residing in such a breathtakingly beautiful area. From the stunning views to the vibrant community, every penny spent in Marathon is an investment in an extraordinary lifestyle.
