Cost of Living in Key West, FL
Population 25,720 · Census ACS 2020–2024 5-year estimates
The median rent in Key West, FL is $2,220/month, 33% higher than the Florida median and 57% higher than the U.S. median. The median home value is $852,400, 156% higher than the national median. Households earn a median of $87,037 a year, 17% higher than the state median.
Affordability
Run your own numbers: mortgage calculator · hourly to salary
Key West vs. Florida vs. U.S.
| Key West | Florida | U.S. | |
|---|---|---|---|
| Median rent | $2,220 | $1,669 | $1,413 |
| Median home value | $852,400 | $359,000 | $332,700 |
| Median household income | $87,037 | $74,568 | $80,734 |
| Homeownership rate | 49.2% | 67.6% | 65.2% |
| Bachelor's degree or higher | 41.3% | 34.1% | 35.7% |
| Poverty rate | 10.9% | 12.6% | 12.5% |
| Unemployment rate | 2.2% | 4.8% | 5.2% |
| Work from home | 12.1% | 15.7% | 15.1% |
| Median age | 46.1 | 42.6 | 38.9 |
FAQ
What is the average rent in Key West, FL?
The median gross rent in Key West, FL is $2,220 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Key West, FL?
Using the common 30% rule, renting a median-priced home takes about $88,800 a year in gross income.
Is Key West, FL expensive to live in?
Rent there is 57% higher than the U.S. median, and the median home costs about 9.8 times the median household income.
Other cities in Florida
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Explore more
New tools, top deals and new pages — one short email a week. No spam.