33040
Key West, Florida.
Key West, Monroe County, FL · Key West, FL metro · population 35,429
to buy the typical home at today's mortgage rate — +$2,709 (+117%) since Jan 2020.
- 1 year
- Up $1,031 +0%
- $955,805$956,836 since Sep 2025
- 5 years
- Up $189,696 +25%
- $767,140$956,836 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- 33040$5,022
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 16 years.
Typical home values in zip 33040 rose 0.1% over the past year — slower than the nation's +1.2%.
Asking rents in zip 33040 fell 4.6% over the past year — slower than the nation's +2.7%.
Owning the typical home in zip 33040 runs $2,963/mo more than renting one. The gap peaked at $3,617 in May 2024.
That is $6,468 a month against $3,506 rent: a $5,022 mortgage payment, plus $422 property tax and $1,024 insurance & upkeep.
Owning vs renting — zip 33040
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$6,468
- Renting$3,506
- Mortgage only$5,022
Property tax · $422/mo 0.53% of value a year — the ACS 2020-2024 median bill over the median home value for Monroe County, FL
Insurance & upkeep · $1,024/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Zillow also publishes an index for the city itself: Key West, FL — measured over the city limits, which is a different area from this zip.
Asking rent — 33040
Against the Key West, FL metro and the national benchmark.
- 33040$3,506
- Key West$3,671
- United States$1,932
Typical home value — 33040
Mid-tier homes, smoothed and seasonally adjusted.
- 33040$956,836
- Key West$962,916
- United States$366,157
Within 20 miles
Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.