Cost of Living in Key West, FL
Population: 25,824 • 2026 Data
$78,532
Median Household Income
+1% vs national
$2,075
Median Monthly Rent
+54% vs national
$816,300
Median Home Value
+141% vs national
1.8%
Unemployment Rate
Housing in Key West
The median home value in Key West, FL is $816,300. Monthly rent for a typical unit averages $2,075, while total monthly housing costs (including utilities and insurance) average $1,991.
Rent-to-income ratio: 31.7%. This exceeds the recommended 30% threshold, indicating housing costs may be a burden for median-income households.
Income and Employment
The median household income in Key West, FL is $78,532. The unemployment rate stands at 1.8%, with a labor force of 15,392 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.