Key West housing market
Typical home value
$963K
▲ 1.9% 1 yr
Typical rent
$3,671/mo
▼ 0.4% 1 yr
12-month forecast
+0.9%
#411 of 546 metros
Gross rent yield
4.6%
#465 of 546 · U.S. 6.3%
Days to pending
155 days
▲ +3 days 1 yr
Listings with a price cut
17%
■ +0.0 pts 1 yr
Key takeaways
- 1The typical home is worth $962,916, up 1.9% in a year and up 26% over five years.
- 2Zillow forecasts home values rising 0.9% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $3,671/mo (−0.4% YoY), a 4.6% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $5,292/mo in principal and interest, $1,621 more than renting.
- 5Homes go under contract in 155 days (+3 days vs last year); 17% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 45/100, #211 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Key West compares
| Measure | Key West | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +1.9% | +1.2% | #297 |
| Home value, 5-yr change | +26.2% | +19.7% | |
| 12-month forecast | +0.9% | +1.1% | #411 |
| Rent, 1-yr change | −0.4% | +2.7% | #531 |
| Gross rent yield | 4.6% | 6.3% | #465 |
| Price-to-rent ratio | 21.9 | 15.8 | |
| Mortgage P&I on typical home | $5,292 | $2,012 | |
| Days to pending | 155 | 56 |
Cities in the Key West metro
1 cities with home value and rent data.
| Key Largo | $1.09M | ▲ 3.9% | $3,635 | ▲ 2.5% | 4.0% |
Run the numbers
Rental property calculator
Cash flow on a typical Key West rental ($963K, $3,671/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Key West home.
Rent vs buy
Is it cheaper to rent or buy in Key West?
Renting out a property in Florida? See deposit limits, late fee rules and notice periods.
Other Florida metros
Miami, FL
$477K home$2,654 rent6.7% yield
▲ 0.3% 1 yr
Tampa, FL
$357K home$1,991 rent6.7% yield
▼ 0.9% 1 yr
Orlando, FL
$383K home$1,929 rent6.0% yield
▼ 1.4% 1 yr
Jacksonville, FL
$351K home$1,680 rent5.8% yield
▼ 0.1% 1 yr
North Port, FL
$404K home$2,106 rent6.3% yield
▼ 2.0% 1 yr
Cape Coral, FL
$334K home$1,827 rent6.6% yield
▼ 3.5% 1 yr
Lakeland, FL
$296K home$1,814 rent7.4% yield
▼ 2.2% 1 yr
Deltona, FL
$331K home$1,767 rent6.4% yield
▼ 0.3% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.