Key Largo today
What this means
Home values here climbed 3.6% in a year.
Treat these as area figures and confirm rent with comps. Sources and method: how these figures are built.
Quick facts
| Key Largo | vs Monroe County | vs Florida | |
|---|---|---|---|
| Population | 13,026 (Census survey) | ||
| Median home value | $643,900 | 18% lower | 79% higher |
| Median gross rent | $1,887 | 6% lower | 13% higher |
| Median household income | $85,778 | 2% lower | 15% higher |
| Owner occupied homes | 76.2% | +10.4 pts | +8.6 pts |
| Residents 65 and older | 27% | +2.3 pts | +5.7 pts |
| Average commute (minutes) | 26 | 35% higher | 6% lower |
| Homes built 2010 or later | 12.8% | +2.3 pts | -1.4 pts |
| Median property tax paid | $3,150 | 24% lower | 15% higher |
Census survey figures are 2020 to 2024 averages; methods.
Living in Key Largo
Unincorporated community on the island of Key Largo in the upper Keys, once a stop on the Overseas Railroad.
There is no city hall here: Key Largo is a Census designated place, and Monroe County sets the rules.
Known for: John Pennekamp Coral Reef State Park; Florida Keys National Marine Sanctuary
Development and roads: US 1 runs the length of the island to Miami and Key West.
Compared with Monroe County as a whole, commutes are longer (26 vs 20 minutes); more homes are owner occupied (76.2% vs 65.8%); more homes are seasonal or vacation homes (31.6% vs 26.9%) and homes are cheaper than the county median ($643,900 vs $780,600).
If you like the numbers here, also look at Fort Myers Beach ($642,400, $1,836), St. Augustine Beach ($634,400, $1,807), Celebration ($635,000, $2,020).
Growth and housing
Yearly population estimates are not published for Census designated places; the county trend is the best guide. Monroe County grew -3% from 2020 to 2025.
Median year built: 1983. The housing mix is 63.5% detached houses and 10.7% larger buildings. Households average 2.47 people.
1.6% of residents moved in from another state in the past year (county 3%).
Risks to price in
| Risk item | Detail |
|---|---|
| County average homeowners insurance with wind | $7,863 a year |
| Hurricanes tied to Monroe County since 2000 | Irma (2017) |
| Coastal county | check flood zone and elevation per address |
Older homes (41.8% built before 1980) draw insurer questions about roofs and wiring. Inspections
Manufactured homes are 15.8% of housing. Manufactured home loans
Flood, storms and jobs
As an unincorporated area, Key Largo uses Monroe County flood rules (CRS class 3, 35% off high risk premiums). For county flood claims, disaster history and jobs, see the Monroe County guide (89.4% of homes there are in high risk zones).
Buying a home in Key Largo
| 2026 loan limits (county) | Amount |
|---|---|
| FHA, one unit | $990,150 |
| Conforming, one unit | $990,150 |
| Median home value here | $643,900 |
Price to income: 7.5x, compared with 8.9x for the county.
- Conventional: the most common loan in Monroe County.
- FHA: works for the typical $643,900 home here.
- VA: veterans are 9.6% of adults.
Investing in Key Largo
Long term rentals
| Key Largo | vs Monroe County | |
|---|---|---|
| Renter occupied homes | 23.8% | -10.4 pts |
| Rental vacancy | 18.5% | -1.1 pts |
| Rent as share of renter income | 33.8% | -3.3 pts |
Short term rentals
Vacation demand is real here, with 31.6% of homes held for seasonal use, and so is the competition.
| Short term rental taxes | Rate |
|---|---|
| County tourist development tax | 5% |
| State sales tax | 6% plus any county surtax |
Confirm zoning, registration and HOA rules for the exact address. State rules
Property types
| Housing stock | Share |
|---|---|
| Single family detached | 63.5% |
| Buildings with 5+ units | 10.7% |
| Manufactured homes | 15.8% |
Nearby
Other Florida markets
Sources
- U.S. Census Bureau, American Community Survey 2020 to 2024 5 year estimates. 2020 to 2024.
- U.S. Census Bureau, Population Estimates, Vintage 2025. July 1, 2025.
- U.S. Census Bureau, Building Permits Survey, 2025 annual. 2025.
- FFIEC HMDA Data Browser, originated loans. 2025 and 2024.
- LendingTree: 2026 FHA loan limits in Florida by county (HUD figures). 2026.
- Florida Realtors: FHFA sets 2026 conforming loan limits. 2026.
- Florida Office of Economic and Demographic Research: 2026 local option tourist tax rates. 2026.
- Florida Office of Insurance Regulation, July 2026 Insurance Stability Unit report (average homeowners premium with wind, as of March 31, 2026). March 31, 2026.
- Freddie Mac Primary Mortgage Market Survey. week of October 22, 2026.
- Wikipedia: List of counties in Florida. checked October 2026.
- U.S. Census Bureau county adjacency file. 2024.
- Wikipedia county article and statewide lists (colleges, teams, airports); Florida Defense Support Task Force installation map. checked October 2026.
- Wikipedia article for this place (history, setting, roads). checked October 2026.
- Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted. September 2026.
- Federal Housing Finance Agency House Price Index (county annual, metro and state quarterly, all transactions). through Q2 2026.
- U.S. Census Bureau, Building Permits Survey, January to September 2026 and 2025. September 2026.
- FEMA OpenFEMA, NFIP Residential Penetration Rates. as of August 2026.
- FEMA OpenFEMA, FIMA NFIP Redacted Claims (2000 to 2026). as of September 2026.
- FEMA OpenFEMA, NFIP Community Status Book (Community Rating System class). August 2026.
- FEMA OpenFEMA, Disaster Declarations Summaries (2000 to 2026). October 2026.
- U.S. Census Bureau, County Business Patterns 2023. 2023.
- U.S. Census Bureau, ACS 2020 to 2024, median gross rent by bedrooms (B25031). 2020 to 2024.
- Hurricane landfalls: Wikipedia, List of Florida hurricanes (2000 to present). checked October 2026.
Estimates from public data; they change over time. General information, not investment, tax or legal advice, and not a loan offer. Methods and assumptions.