Is Key West expensive?

Key West is widely viewed as a high-cost market, and the reason is simple: limited land, consistent demand, and a housing supply constrained by geography. If you are asking, “Is Key West expensive to live in?” the most accurate answer comes from breaking your budget into two categories: purchase price and monthly ownership cost.

Average price of a house in Key West: what buyers should expect

When people search “average price of a house in Key West” they usually want a single number. In practice, Key West pricing varies sharply by neighborhood, zoning, flood exposure, elevation, property condition, and whether you are comparing condos to single-family homes. The professional way to evaluate “average” is to review recent comparable sales and match them to your exact criteria—not a statewide or generalized figure.

What salary do you need to live in Key West?

The more useful question is: how much do you need to live in Key West comfortably each month? For homeowners, your monthly cost typically includes:

• Principal + interest (or opportunity cost for cash buyers)

• Property taxes

• Homeowners insurance (and possibly windstorm + flood)

• Utilities and maintenance reserves

• HOA/condo fees if applicable

In Key West, insurance and reserves can materially change affordability. That is why the best approach is not guessing a salary target—it is building a complete ownership-cost worksheet for the specific property you are considering.

What intelligent buyers do before making an offer

Before you fall in love with a home, confirm (1) insurability, (2) realistic monthly ownership cost, and (3) what “comfortable” looks like for your household.