Key West, FL — Momentum Score, Home Values & Best-For

All states·Florida·Key West

Monroe County · Key West · population 25,240

Shrinking
OverviewCost of livingMoving guide
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48
Stable
Momentum score · 0–100

Where Key West stands

Home values down 4.0% in the last year. population shrinking 1.2% per year.

Median home $1,025,814
1-year -4.0%
5-yr CAGR +6.1%
vs 5-yr peak -8.0%
Population -1.2%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2024-04$1026k$535k$743k$952k$1160k201620182020202220242026

Lifestyle scores

🚶
Walkability
32/100
Very car-dependent
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
15/100
Transit limited
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
55/100
Workable for remote workers
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$3,452/mo$3,174$3,641$4,10820242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent9410210020242026

Rent vs buy

Price-to-rent ratio: 24.8
Lean rent

At a 24.8 price-to-rent ratio, the math is starting to lean toward renting in Key West. Owner-occupier ROI requires longer holds and the assumption that prices keep appreciating roughly at the rate of rent.

How the momentum score breaks down

methodology →
Home YoY
30 · w22%
Home 5-yr CAGR
70 · w22%
Distance from peak
51 · w18%
Population growth
28 · w16%
Rent YoY
49 · w12%
Home 10-yr CAGR
67 · w10%
Long thesis

Key West has held up across the cycle: home values at $1,025,814 with +6.1% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Key West's population is shrinking 1.2% per year. Housing demand has to come from somewhere — if people are leaving, the buyer pool is shrinking faster than the inventory. That eventually shows up in price.

About Key West

Key West is a city in Monroe County, Florida, with an estimated population of 25,240. The population has contracted 1.2% per year on average since 2020. The median home value in Key West is $1,025,814 as of 2026-04, down 4.0% over the last 12 months. Over the last five years, home values have averaged +6.1% annual growth (-8.0% from the 5-year peak). Rents in Key West average $3,452 per month, roughly flat year-over-year (+0.6%). The composite momentum score is 48 of 100 (Stable). Conditions are neither hot nor cold, so the local fit matters more than market timing.

▲ Bull case

●Healthy 5-year run: +6.1% annualized over 5 years, outpacing US inflation.
○The data is the data: Key West has at least 5 years of Zillow tracking, full Census identification, and is included in the 2-criteria momentum score on this page.

▼ Bear case

●Net out-migration: population shrinking 1.2% per year — services, schools, and tax base will follow.
●Expensive AND not growing: median home $1,025,814 with only -4.0% YoY. You’re paying premium pricing for a flat trend.
●Cooling: -4.0% over the trailing year — momentum has stalled.

Playbook

Buyer

Lifestyle fit matters more than market timing in a Stable market. Take your time on the home and neighborhood; the macro trend isn't urgent. Negotiate normally.

Seller

Price competitively from day one or risk a 60+ day listing. Staging, photography, and presentation matter more in Stable markets than in Hot ones.

Investor

Stable cap rates, no big appreciation story to lean on. Underwrite this as a pure cash-flow play — the math has to work on rent alone.

Local safety & alerts

No active National Weather Service alerts for Monroe County right now.

NWS active alerts (FL)Florida Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Monroe County routes NWS alerts; check the state EM portal for non-weather emergencies.

Neighborhoods of Key West

11 tracked · ranked by median home value
1Casa Marina$2,027,182-6.3%
2Historic Seaport$1,736,717+1.3%
3Truman Annex$1,644,009-3.4%
4Duvall Street$1,620,003-4.1%
5The Meadows$1,360,960-2.3%
6White Street Gallery District$1,334,099-6.9%
7Old Town$1,269,978-6.1%
8Upper Duvall$1,221,040-3.1%
9Midtown$1,112,409-5.5%
10Bahama Village$846,049-3.2%
11New Town$815,044-3.9%

Cities like Key West

Sunny Isles Beach, FL50 · StableAtlantic Beach, FL61 · StableNorth Palm Beach, FL55 · StableHialeah Gardens, FL54 · Stable

Run the numbers for Key West

ToolCan I afford Key West?Income → city shortlistToolROI on a Key West rentalCap rate, cash-on-cash, DSCRToolCompare Key West to anywhereSide-by-side up to 3 citiesToolKey West cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
70° / 51°
avg high / low
Summer (Jul)
90° / 73°
avg high / low
Sunny days/yr
233
~64% of year
Annual precip
54″ rain
0″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Very high
Tornado
Moderate
Wildfire
Low
Earthquake
Very low
Flood
Very high

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Key West listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local sports teams

Major professional teams the Key West area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Local economy & environment

Humidity
76%
Very humid climate
Median household income
$67,900
Florida state median
Top industries (state-level)
TourismHealthcareConstruction

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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