Key West, FL | City Real Estate Market Analysis

Key West, Monroe County, Florida

City Analysis Real Estate Market FL Monroe County

Key West

Market Insight

Key West, FL Investment Potential Analysis

Market analysis for Key West, FL will appear here once data is available. This section will surface investment opportunities, risk assessments, neighbourhood trends, and local real estate insights specific to this market.

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Avg. Home Value

🏠 Median residential property value in Key West.

0.64%

Property Tax Rate

🏛️ Effective property tax rate for this market.

$73,341

Avg. Household Income

💵 Average annual household income in the area.

26,949

Population

👥 Total city population estimate.

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Unemployment Rate

📊 Local unemployment vs. national benchmark.

Key West, FL Real Estate Market Property Overview

Real estate market overview for Key West, FL, Monroe County
Population of 26,949
Average household income of $73,341
Property tax rate of 0.64%
Median resident age of 42.40

Property Details

City	Key West	State	Florida
County	Monroe	Country	USA
Population	26,949	Median Age	42.40
Avg. Household Income	$73,341	Median Home Value	N/A
Unemployment Rate	N/A	Property Tax Rate	0.64%
Top Industries	N/A	Economic Overview	N/A
Coordinates	24.5642, -81.7775	Properties Listed	0

Model investment returns using Key West, FL market data as defaults

Purchase Price ($)

Annual NOI ($)

Down Payment (%) 25%

Interest Rate (%) 5.0%

Loan Term (years) 30 years

Property Tax Rate (%) 0.64%

Holding Period (years) 5 years

Annual Appreciation (%) 3.0%

Down Payment Amount:$125,000

Loan Amount:$375,000

Monthly Mortgage:$2,012

Monthly Tax:$490

Total Monthly Payment:$2,502

Monthly Cash Flow:$581

Cash on Cash Return:5.6%

Cap Rate:5.0%

Debt Coverage Ratio:1.23x

IRR (5 years):8.4%

Projected Property Value:$579,637

Total Equity:$234,891

📊Monthly Payment Analysis

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💵Cash on Cash Return

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🚀Internal Rate of Return

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🏛️Property Tax Analysis

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* Calculations use Key West, FL median home value as the default purchase price. All figures are estimates only. Consult financial and legal professionals before investing.

Direct Property Ownership

Concentrated exposure to one property and market
Debt service, refinancing, and rate sensitivity
Active leasing, vendor, and asset oversight
Vacancy, capex, and maintenance obligations
Illiquid exit process with timing risk
Transaction costs can compress realized returns

Projected direct ownership outcome Calculating… —

REI Capital Platform Exposure

Passive exposure without direct operator liability
Institutional underwriting and acquisition discipline
Professional asset management and reporting
Strategy designed to reduce single-asset concentration
9% annual target growth projection for comparison
Curated deal flow with a passive capital framework

Projected platform exposure at 9% target Calculating… —

Projected difference —

Calculating the comparison…

* REI Capital Growth uses a 9% target annual growth projection for comparison only. Returns are not guaranteed and actual results may vary. Consult a financial professional before making investment decisions.

Accredited Investors

Deploy capital into a professionally managed real estate strategy without taking on daily operator responsibilities.

Family Offices

Evaluate long-duration CRE exposure with an emphasis on underwriting discipline and capital preservation.

1031 Exchange Buyers

Compare direct replacement ownership against passive alternatives with reduced operational complexity.

High-Income Professionals

Access commercial real estate exposure while preserving time, focus, and liquidity for core priorities.

Where Your NOI Goes Each Month

* Distribution based on current inputs. Actual expenses may vary.

ROI Over Time: Direct Ownership vs REI Capital

* Property return uses a conservative 3.8%–4.2% annual capital appreciation assumption. REI Capital uses a 9% target projection. Returns are not guaranteed.

Deployment Scenario Analysis

Your Down Payment: Direct Ownership vs REI Capital Platform Exposure

Same starting capital. Compare a direct ownership path against passive capital deployment through REI Capital.

Direct ownership (3.8%–4.2% appreciation) REI Capital (9% target)

* "Direct ownership" shows the same down payment growing at the selected 3.8%–4.2% annual capital appreciation rate. "REI Capital" shows the same down payment growing at 9% annual target. Returns are not guaranteed.

Allocation Rationale

Why sophisticated investors choose passive CRE exposure

Direct ownership can be powerful, but it also concentrates capital, time, and execution risk into one asset. Passive CRE exposure helps investors participate in professionally managed real estate strategies while reducing the operational burden of owning the property themselves.

Professional underwriting before capital deployment
Reduced exposure to single-asset operational demands
Access to institutional sourcing and asset management
Passive framework built for long-term capital strategy
Clearer comparison against direct ownership costs
Time-efficient exposure for qualified investors

Investor Materials

A more efficient way to deploy capital

The analysis above is only the starting point. Review the REI Capital investment materials to understand the acquisition strategy, underwriting framework, risk controls, and investor onboarding process behind the 9% target projection.

Acquisition strategy & deal flow
Underwriting and risk framework
Platform team and execution process
Investor qualification and next steps

Access Investment Materials

For qualified investors · Private overview · PDF access

Investment Due Diligence For Key West, FL Income Property

Key questions for informed investment decisions

What makes Key West, FL an attractive market for real estate investment? +

The city's relatively low poverty rate of 10.3% and high health insurance coverage of 92.1% suggest a stable and employed population, while its top industries in Accommodation & Food Services, Retail Trade, and Arts, Entertainment, & Recreation drive demand for housing, with a median household income of $73,341 and a median property value of $634,100.

How does the city's ethnic diversity and commute time impact the real estate market? +

Key West's diverse population with top ethnicities including White, Hispanic or Latino, and Black or African American, contributes to a vibrant community, and with an average commute time of just 12.4 minutes, residents can easily access amenities and employment opportunities, making it an attractive location for renters and buyers alike, with 58.2% of the population being homeowners.

What are the key factors to consider when assessing the quality of life for tenants in Key West? +

The city's high health insurance coverage rate of 92.1% and low poverty rate of 10.3% indicate a stable and secure population, while the average commute time of 12.4 minutes and top commute methods including driving, working from home, and biking suggest a convenient and flexible lifestyle, with a median gross rent of $1,743 and a strong demand for housing in the area.

How does the local economy and industry impact the real estate market in Key West? +

The city's top industries in Accommodation & Food Services, Retail Trade, and Arts, Entertainment, & Recreation drive employment and demand for housing, with a median household income of $73,341 and a median property value of $634,100, while the GINI coefficient of 0.514 suggests a relatively equal distribution of income, contributing to a stable and secure market for real estate investment.

What are the implications of Key West's foreign-born rate and homeownership rate for real estate investors? +

The city's foreign-born rate of 17.8% and homeownership rate of 58.2% suggest a diverse and stable population, with a strong demand for housing and a relatively low poverty rate of 10.3%, making it an attractive market for real estate investment, with a median property taxes of $6,405 and a high health insurance coverage rate of 92.1% indicating a secure and stable community.

What are some of the best neighborhoods to live in Key West? +

Some of the best neighborhoods to live in Key West include Old Town, The Meadows, Casa Marina District, Bahama Village, New Town, and Midtown. Each neighborhood has its own unique character and advantages, so it's worth researching to find the one that best fits your lifestyle and preferences.

What are some fun things to do in Key West? +

Key West has a lot to offer, from visiting the Ernest Hemingway Home and Museum to snorkeling at Fort Zachary Taylor State Park. You can also take a stroll down Duval Street, visit the Key West Butterfly and Nature Conservatory, or hop aboard the Conch Tour Train to discover the island's iconic landmarks. And don't forget to snap a pic at the southernmost point of the USA!

What is the food scene like in Key West? +

The food scene in Key West is amazing, with a variety of restaurants serving up fresh seafood, Cuban cuisine, and other local flavors. Some popular spots include Alonzo's Oyster Bar, BO's Fish Wagon, and Kim's Kuban. And don't miss the opportunity to try some key lime pie! There are also plenty of great food trucks and cafes to grab a quick bite or coffee.

What are the pros and cons of living in Key West? +

Living in Key West has its pros and cons. On the plus side, the island has a unique and charming atmosphere, with a strong sense of community and plenty of outdoor activities to enjoy. However, it can also be quite expensive, especially when it comes to housing and transportation. Additionally, the island can get crowded and noisy during peak tourist season, which may not be ideal for everyone.

Is Key West a good place to live? +

Whether or not Key West is a good place to live depends on your individual preferences and priorities. If you value a relaxed, island lifestyle and are willing to pay a premium for it, then Key West might be an excellent choice. However, if you're looking for a more affordable or fast-paced lifestyle, you might want to consider other options. Ultimately, it's worth visiting the island and getting a feel for the community and way of life before making a decision.

Things Near Key West, FL

Metro Center Station

0.2 miles

Grand Central Market

0.4 miles

About Key West

Key West, FL is a stable investment market with a median household income of $73,341 and relatively low poverty rate of 10.3%. This market tends to attract a diverse population, with 17.8% of residents being foreign-born and a top ethnicity breakdown of White (83.5%), Hispanic or Latino (15.4%), and Black or African American (4.3%). The average commute time is a manageable 12.4 minutes, with 92.1% of residents having health insurance coverage. However, the 10.3% poverty rate suggests some risk, and the GINI coefficient of 0.514 indicates a moderate level of income inequality. The top industries in Key West are Accommodation & Food Services, Retail Trade, and Arts, Entertainment, & Recreation, which can be vulnerable to economic downturns. On the other hand, the high median property value of $634,100 and median property taxes of $6,405 indicate a strong housing market. With a homeownership rate of 58.2% and a median gross rent of $1,743, investors may find opportunities in both rental and ownership properties. Overall, Key West offers a unique blend of stability and potential for growth, making it an attractive option for investors looking to diversify their portfolios. The population of 26,949, with a median age of 42.4, also presents opportunities for businesses catering to this demographic. However, investors should be aware of the potential challenges and carefully consider the local economy and market trends before making any investment decisions.

Population 26,949

Median Age 42.40

Avg. Household Income $73,341

Similar Properties Near Key West, FL

Investor Materials

Access the REI Capital investment overview

Review the acquisition strategy, underwriting framework, risk considerations, and investor onboarding process in one private PDF.

Access Investment Materials

CRE Admin

Key West, FL | City Real Estate Market Analysis

Key West, FL Investment Potential Analysis

Key West, FL Real Estate Market Property Overview

Property Details

Direct ownership vs. passive CRE platform exposure

Built for investors evaluating passive commercial real estate exposure

Accredited Investors

Family Offices

1031 Exchange Buyers

High-Income Professionals

Where Your NOI Goes Each Month

ROI Over Time: Direct Ownership vs REI Capital

Your Down Payment: Direct Ownership vs REI Capital Platform Exposure

Why sophisticated investors choose passive CRE exposure

A more efficient way to deploy capital

Investment Due Diligence For Key West, FL Income Property

Things Near Key West, FL

Metro Center Station

Grand Central Market

About Key West

Similar Properties Near Key West, FL

Access the REI Capital investment overview

Key West, FL | City Real Estate Market Analysis

Key West, FL Investment Potential Analysis

Key West, FL Real Estate Market Property Overview

Property Details

Direct ownership vs. passive CRE platform exposure

Built for investors evaluating passive commercial real estate exposure

Accredited Investors

Family Offices

1031 Exchange Buyers

High-Income Professionals

Where Your NOI Goes Each Month

ROI Over Time: Direct Ownership vs REI Capital

Your Down Payment: Direct Ownership vs REI Capital Platform Exposure

Why sophisticated investors choose passive CRE exposure

A more efficient way to deploy capital

Investment Due Diligence For Key West, FL Income Property

Things Near Key West, FL

Metro Center Station

Grand Central Market

About Key West

Similar Properties Near Key West, FL

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Access the REI Capital investment overview