What to know before you move: cost, market timing, who it fits.
If you're considering a move to Key Largo, FL, the most important variables are the local housing market, the cost structure (taxes, insurance, utilities), and how well the city fits your day-to-day life. This page summarizes the housing market read; pair it with the cost of living page for the full picture.
Key Largo is a city in Monroe County, Florida, with an estimated population of 12,447. It anchors the Key West metro area. The median home value in Key Largo is $1,087,682 as of 2026-04, up 0.3% over the last 12 months. Over the last five years, home values have averaged +7.8% annual growth (-2.7% from the 5-year peak). Rents in Key Largo average $2,946 per month, up 6.8% year-over-year. The composite momentum score is 71 of 100 (Rising). The market is healthy with prices supported by underlying demand.
Quiet strength: prices near or at all-time highs (-2.7% from 5-year peak). Solid market for owner-occupiers; investors should underwrite conservatively given the elevated entry point.
Reasons people move here
- Healthy 5-year run: +7.8% annualized over 5 years, outpacing US inflation.
- Held the highs: currently -2.7% from the 5-year peak — this market refused to give back gains.
- Hot rental market: rents up 6.8% YoY — landlords have pricing power, supports new investment math.
Things to know first
- Expensive AND not growing: median home $1,087,682 with only +0.3% YoY. You're paying premium pricing for a flat trend.
- Thin housing market: small population means fewer transactions and slower resale. Liquidity risk on exit.
More about Key Largo
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.