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Key West, FL Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$3,866
Monthly Cash Flow
-$1,699
Principal + Equity
$787
Annual Total Gain
-$10,945
Cash on Cash
-7.95%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$472
Occupancy Rate
70.97%
Monthly Revenue
$7,413
Monthly Cash Flow
$736
Principal + Equity
$787
Annual Total Gain
$18,282
Cash on Cash %
3.44%
Net ROI %
Market Health & Growth
Median Income
$78,532
Population
25,824
LTR Renter %
52.59%
Forecast (1 yr)
1.2%
Appreciation (1 yr)
-6.84%
Appreciation (5 yr)
44.59%
Appreciation (10 yr)
0%
Job Growth
-3.48%
LTR Rentability
Low
STR Demand
78
STR Rentals
2,824
Top Public Schools
A-Coral Shores High School
BSigsbee Charter School
B
B
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Places to Retire in Florida
#215out of 660 markets
Most Diverse Places to Live in Florida
#289out of 1195 markets
Best Places for Young Professionals in Florida
#79out of 1195 markets
B
Public School
C
Crime And Safety
D
Housing
A
Nightlife
B
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Key West, FL.
Key West, FL has specific regulations in place for short term rentals that investors should be aware of before purchasing a property for this purpose. Some key regulations include:
1. Licensing: Short term rental properties in Key West are required to obtain a transient rental license from the City of Key West. This license must be renewed annually and failure to obtain or renew the license can result in fines and penalties.
2. Zoning restrictions: Key West has specific zoning regulations that dictate where short term rentals are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
3. Occupancy limits: Key West has occupancy limits for short term rental properties, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they are in compliance with them.
4. Noise regulations: Key West has strict noise regulations in place to ensure that short term rental properties do not disturb the peace and quiet of residential neighborhoods. Investors should be aware of these regulations and take steps to ensure that their guests are respectful of their neighbors.
5. Taxes: Short term rental properties in Key West are subject to various taxes, including sales tax, tourist development tax, and bed tax. Investors should be aware of these tax obligations and ensure that they are properly collected and remitted.
6. Code compliance: Short term rental properties in Key West must comply with all building and safety codes. Investors should ensure that the property they are considering purchasing meets these requirements to avoid costly fines and penalties.
Overall, investors should thoroughly research and understand the regulations and requirements for short term rentals in Key West before purchasing a property for this purpose. Failure to comply with these regulations can result in financial and legal consequences that can negatively impact the investment.
Market Trends Over Time
Explore 25 years of market data for Key West, FL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Key West, FL.
The LTR Genie Score of Key West, FL is 47, indicating a low rentability for long-term rental properties in the area. This is likely due to the stagnant rent growth rate of 0.0% and a negative net ROI of -4.27%. On the other hand, the STR Genie Score is 79, suggesting a high rentability for short-term rental properties. The positive net ROI of 7.13% and high occupancy rate of 70.97% contribute to this high score.
Key West, FL is a popular tourist destination known for its beautiful beaches, vibrant nightlife, and historical landmarks. The high STR Genie Score reflects the strong demand for short-term rentals in this market, making it an attractive option for real estate investors looking to capitalize on the tourism industry.
Based on the metrics provided, it is recommended that real estate investors consider investing in short-term rental properties in Key West, FL. The high STR Genie Score and positive net ROI indicate that there is a strong potential for profitability in this market. Additionally, with a 1-year price appreciation forecast of 1.2%, investors may also see growth in property values over time. However, the low LTR Genie Score suggests that long-term rental properties may not be as lucrative in this market.
