Key West, FL Cost Of Living
Cost Of Living In Key West, FL Summary
Cost of living in Key West research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Key West is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Key West is 145, with 100 being the average.
The cost of living index in Key West is 1.4x higher than the national average.
Key West ranks as the #446 cheapest in Florida out of 459.
Key West ranks as the #5,721 cheapest out of 6,412 in the US.
The median home value in Key West is $728,500.
The median income in Key West is $75,638.
Table Of Contents
Key West's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Key West, FL?
According to the most recent data on the cost of living, Key West has an overall cost of living index of 145, which is 1.4x higher than the national index of 100.
Compared to Florida, Key West has a cost of living index that's 1.4x higher than Florida's index of 101.
The standard of living in Key West ranks as #446 most affordable out of the 459 places we measured in Florida. By definition, that implies Key West ranks as the #13 most expensive place in the Sunshine State.
For more reading on life in Key West, check out:
- Living In Key West
- Key West Crime Report
- Search Homes For Sale In Key West, FL
In Florida
In America
Key West Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Key West. Here is how it fairs on each of the criteria:
The Services index in Key West is 100.
The Groceries index in Key West is 116.
The Health index in Key West is 105.
The Housing index in Key West is 233.
The Transportation index in Key West is 108.
The Utilities index in Key West is 100.
| Living Expense | Key West | Florida | National Average | |
|---|---|---|---|---|
| Overall | 145 | 101 | 100 | |
| Services | 100 | 98 | 100 | |
| Groceries | 116 | 101 | 100 | |
| Health | 105 | 96 | 100 | |
| Housing | 233 | 108 | 100 | |
| Transportation | 108 | 98 | 100 | |
| Utilities | 100 | 100 | 100 | |
Key West, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Key West is $728,500.
The Median Rent in Key West is $1,941.
The Median Income in Key West is $75,638.
The Home Value To Income in Key West is 9.6x.
The Rent To Monthly Income in Key West is 0.31x.
| Statistic | Key West | Florida | United States |
|---|---|---|---|
| Median Home Value | $728,500 | $248,700 | $244,900 |
| Median Rent | $1,941 | $1,301 | $1,163 |
| Median Income | $75,638 | $61,777 | $69,021 |
| Home Value To Income | 9.6x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.31x | 0.25x | 0.2x |
Median Home Value
Median Rent
Median Income
Key West, FL Costs By Category
Detailed Key West Services Costs Vs. Florida
Detailed Key West Groceries Costs Vs. Florida
Detailed Key West Health Costs Vs. Florida
Detailed Key West Transportation Costs Vs. Florida
Detailed Key West Utilities Costs Vs. Florida
Key West SnackAbility
/10
Cost Of Living In Cities Around Key West
The cost of living varies in the cities and towns around Key West. Here's a quick look at the cost of living in the most populous nearby places:
Marathon, FL has a cost of living index of 126, 0.9x Key West.
| City | Population | Cost Of Living | Vs. Key West |
|---|---|---|---|
| Marathon, FL | 9,622 | 126 | 0.9x |
