Housing costs in Key West?
A typical home costs
$1,015,000, which is 200.2% more expensive than the national average of
$338,100 and 180.1% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Key West costs
$3,860 per month, which is 169.9% more than the national average of
$1,430 and 59.6% more than the state average of
$1,560.
Can I afford Key West?
To live comfortably in Key West, Florida, a minimum annual income of
$194,400 for a family, and
$122,000 for a single person is recommended.
What does A.I. say about Key West?
Living in Key West, FL is not particularly cheap. The cost of living index for the city is about 23% higher than the average for the nation, and housing costs are among the most expensive in Florida. Renting an apartment in Key West will typically run between $1,500 and $2,000 per month depending on size and amenities, while buying a home can cost anywhere from $400,000 to over $1 million for a luxury property. Food costs are relatively high as well. Groceries, dining out at restaurants or ordering delivery all come at a premium price when compared to other places in Florida. Despite this cost though, many people find that it is worth it to live in such a beautiful place like Key West!