ZIP 33040

33040 is one of 9 ZIP codes that lie mostly in Monroe County, FL.

Shaded by typical home value, it ranks 4 of the 9 with a value.

14 school locations in 33040: 3 elementary, 3 middle, 8 high.

In alphabetical order: GERALD ADAMS ELEMENTARY SCHOOL, HORACE O'BRYANT SCHOOL, KEYS CENTER, KEY WEST HIGH SCHOOL, and more on the ZIP page. Locations only — no ratings are shown here.

In February 2016 the typical home in 33040 was worth $525,666.

Values peaked at $1,031,082 in April 2024. The latest reading is −7.9% from that peak.

As of August 2026: $949,386, −0.9% over twelve months.

Start with the typical home: $949,386. Put 20% down and borrow $759,509 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $5,259 a month in principal and interest.

The median household here earns $79,038 a year, $6,587 a month. So the payment takes 79.8% of income — rated “severe” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 44.2% in 2016.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in February 2016 (3.66%) the payment was $1,926.

In December 2020, with rates at 2.68%, it was $2,203.

By August 2026, at 6.67%, it was $4,884 — +122% since December 2020, while the home's value moved +40%.

Reported values rose +81% since February 2016.

General prices (CPI-U) rose +41% over the same span.

Divide one by the other: in August 2026 dollars, the 2016 home was worth $740,053. So the real change is +28%, not +81%.

33040: +81% since February 2016.

Monroe County: +93% since February 2016.

Florida: +93% since February 2016 — 33040 ran behind it by 12 points.

Against 1,098 Florida ZIP codes, 33040 sits at the 0th percentile for affordability (price vs local income).

50th for appreciation (recent value growth); 14th for rental yield (rent vs price).

Owning the typical home costs about $6,208 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $3,490 a month.

Price divided by a year's rent: 22.7. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 40 a month (Redfin, 3-month rolling data through August 2026). That is 89% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 280. That is 100% of the 2015–2019 level for the same months.

Going out — closed sales: about 38 a month. That is 70% of the 2015–2019 level for the same months. The drain is drawn 30% narrower: the share of homes for sale that sell each month is 70% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 7.4 months of supply — above the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 2 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 38 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 44 — so sales ran at 86% of it, and below it in 23 of the last 24 months.

Across Monroe County, builders pulled permits for 279 new homes in 2025.

Of those, 86% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in Monroe County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 994 moved in. Among the ten receiving the most, 1,064 moved out.

Net across those counties: −70 households. Beside it, homes for sale in this ZIP: 280 in June 2026.

Most arrivals came from Miami-Dade, FL (423 households); most departures went to Miami-Dade, FL (337).