What is the average home price in the Florida Keys?
It’s a dream of many to live in the Florida Keys, but it’s no mystery that home prices from Key Largo to Key West are much higher than most inland areas throughout Florida.
So what is the average home price in the Florida Keys? That depends on what type of home you are looking for as well as the area, but they range on average for a standard home from $800,000-$1,300,000.
There are 800 keys that make up the Florida Keys, stretching over 180 miles. Not all are inhabitable and prices vary significantly.
However, most of the keys are broken down into 5 general areas, which are Key Largo, Islamorada, Marathon, The lower keys and the infamous Key West.
There are many islands in between where you can live but in the sake of keeping this blog post from rivaling the 1,225 pages of “War and Peace”, we will concentrate on these 5 most popular areas.
We will also focus on standard, site-built homes, not mobile homes, condos or townhomes.
Data source – Zillow
Key West – The average home price in Key West is $1,098,559.
Lower Keys (Big Pine & Others) – The average home price in Big Pine Key located in the lower keys just north of Key West is $803,134, making it the most affordable key to buy a home in the entire Florida Keys, on average.
Marathon – The average home price in Marathon is $887,986.
Islamorada – The average home price in Islamorada is $1,295,980, surprisingly making it the most expensive key to buy a home, on average.
Key Largo – The average home price in Key Largo is $1,130,852.
So there you have it, the average home price of every major island in the Florida Keys. Keep in mind these aren’t the total costs of a home in the chain of islands.
You must also factor in homeowner’s insurance, which if you plan on securing a loan for your home, will require flood and wind coverage.
There will also be property taxes, which can be found on all of our listings at Florida Keys Real Estate, as well as the property appraisers website for Monroe County, Florida.
You might also have homeowner’s association fees if your home is in a community governed by a HOA. Those fees are also listed on all of our listings if applicable.
