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Rental Market Trends

Key West, FL

As of May 2025, Key West's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Key West's average rent is 54.7% ($1,182) higher than the Florida average of $2,161 and 86.4% ($1,550) higher than the U.S. average of $1,793.

Average Rent

$3,343

Monthly ChangeMonth Over Month Change

1.6% ($56)

Yearly ChangeYear Over Year Change

5.8% ($207)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$2,692	0.2% ($6)	20.5% ($693)
2 Beds	$3,714	1.6% ($59)	4.9% ($191)
3 Beds	$4,514	4.2% ($182)	4% ($190)

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Key West Rental Market FAQs

Explore rental prices, market trends, and availability in Key West, FL.

What is the average rent in Key West, FL?

The average rent in Key West, FL is $3,343 per month.

What is the rental price range for houses in Key West, FL?

Houses in Key West typically rent for between $1,884 and $5,868 per month, with an average of $3,343 per month.

What is the average rent for different bedroom sizes in Key West, FL?

In Key West, the average rent for a 1-bedroom house is $2,692 per month, for a 2-bedroom house, $3,714 per month, and a 3-bedroom house is $4,514 per month.

How do rent prices in Key West, FL compare with the national average?

The average rent in Key West is 86.4% ($1,550) higher than the national average of $1,793 per month.

How have rent prices in Key West, FL changed recently?

The average rent in Key West has decreased by 1.6% ($56) in the last month and decreased by 5.8% ($207) over the past year.

How competitive is the rental market in Key West, FL?

The rental market in Key West, FL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Key West, FL?

In Key West, FL, the average rental stays on the market for approximately 30 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Key West, FL?

There are currently 16 rental properties available in Key West, FL.

Can I afford to rent a house in Key West, FL?

Based on the current averages, a household would need an annual income of $148,560 to comfortably afford a 2-bedroom house in Key West.