Living in Key West, Florida
Cost of living, income, home prices, rent and demographics of Key West · Census data 2020–2024
Key West has 25,720 residents with a median age of 46.1. The median household income is $87,037 (17% higher than the Florida median), the median home value is $852,400, the median rent is $2,220/month.
Key West at a glance
- Population
- 25,720
- Median age
- 46.1State: 42.6
- Median household income
- $87,037State: $74,568
- Median home value
- $852,400State: $359,000
- Median rent
- $2,220/moState: $1,669
- Homeowners
- 49.2%
- Bachelor's degree or higher
- 41.3%
- Average commute
- 15 min
Is Key West a good place to live?
Pros: Median household income 17% higher than the Florida median; an average commute of 15 minutes; unemployment of 2.2%; a poverty rate of 10.9%.
Cons: Home values 137% higher than the state median.
The weather is best in December to March.
Cost of living in Key West
Housing is the biggest part of the cost of living. In Key West the median home value is $852,400, 156% higher than the U.S. median. Renters pay a median of $2,220 per month, which is 36.4% of household income. Homeowners with a mortgage pay $3,605 a month in housing costs.
Key West median household income
The median household income in Key West is $87,037 and the income per person is $60,074. 10.9% of residents live below the poverty line (Florida: 12.6%).
Housing in Key West: homes for sale and rent
- Housing units
- 14,574
- Owner-occupied
- 49.2%
- Renter-occupied
- 50.8%
- Vacant
- 26.1%Includes seasonal homes
- Median year built
- 1968
- Average household size
- 2.28
Key West demographics
- Population
- 25,720
- Median age
- 46.1
- Under 18
- 15%
- 65 and older
- 21.6%
- Households
- 10,775
- Foreign-born
- 22.9%
- Veterans
- 7.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Key West ›
Education in Key West
41.3% of adults 25 and older in Key West have a bachelor's degree or higher (Florida: 34.1%), and 16.4% have a graduate or professional degree.
Jobs and commute in Key West
- Unemployment rate
- 2.2%State: 4.8%
- Average commute
- 15 minState: 28 min
- Work from home
- 12.1%
- Drive alone
- 58.3%
- Public transit
- 0.4%
- Walk to work
- 3.8%
- Homes with broadband
- 90.3%
Key West vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Key West | 25,720 | $87,037 | $852,400 | $2,220 |
| Stock Island | 4,162 | $65,515 | $517,500 | $2,013 |
| Big Coppitt Key | 3,109 | $105,139 | $534,500 | $2,420 |
| Cudjoe Key | 2,492 | $87,500 | $857,400 | $1,864 |
| Big Pine Key | 4,258 | $110,134 | $637,000 | $1,724 |
| Marathon | 9,914 | $89,355 | $725,800 | $1,633 |
| Key Colony Beach | 511 | $94,231 | $919,800 | $1,929 |
More for people moving to Key West
Key West ZIP code ›Weather and climate ›Living in Key West: FAQ
What is the median household income in Key West, FL?
The median household income in Key West is $87,037, 17% higher than the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Key West?
The median home value in Key West is $852,400, compared with $359,000 in Florida.
How much is rent in Key West?
The median gross rent in Key West is $2,220 per month, about 36.4% of household income.
Is Key West, FL a good place to live?
Pluses: median household income 17% higher than the Florida median; an average commute of 15 minutes; unemployment of 2.2%; a poverty rate of 10.9%. Minuses: home values 137% higher than the state median.
What is the median age in Key West?
The median age in Key West is 46.1 years (Florida: 42.6).
How long is the commute in Key West?
The average commute to work in Key West is 15 minutes; 12.1% of workers work from home.
What is the unemployment rate in Key West?
The unemployment rate in Key West is 2.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Key West?
41.3% of adults in Key West have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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