Key Largo, Florida.
Typical home $1,094,723 (+3.9% in a year), asking rent $3,635 (+2.4%). Key West, FL metro.
to buy the typical home at today's mortgage rate — +$3,457 (+151%) since Jan 2020.
- 1 year
- Up $41,556 +4%
- $1,053,167$1,094,723 since Sep 2025
- 5 years
- Up $253,798 +30%
- $840,924$1,094,723 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.
- Key Largo$5,746
- Florida$1,970
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 13 years.
Typical home values in Key Largo, FL rose 3.9% over the past year — faster than the nation's +1.2%.
Asking rents in Key Largo, FL rose 2.4% over the past year — slower than the nation's +2.7%.
Owning the typical home in Key Largo runs $3,766/mo more than renting one. The gap peaked at $4,416 in May 2024.
That is $7,400 a month against $3,635 rent: a $5,746 mortgage payment, plus $483 property tax and $1,172 insurance & upkeep.
Owning vs renting — Key Largo
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$7,400
- Renting$3,635
- Mortgage only$5,746
Property tax · $483/mo 0.53% of value a year — the ACS 2020-2024 median bill over the median home value for Monroe County, FL
Insurance & upkeep · $1,172/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.
Living in Key Largo, Monroe County, Florida
Key Largo, in Monroe County, had 12,447 people in the 2020 census. Half its households earn more than $85,778 a year and half less, against $87,738 across Monroe County; 10% of its people live below the poverty line. 76% of its homes are lived in by their owners and 24% are rented. Unemployment in Monroe County was 3.3% in August 2026, and the county had 0.5% more jobs in 2025 than the year before. The most residents work in schools and health care, then restaurants and hotels.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Key Largo is the northernmost and longest of the Florida Keys, a community where residents skew older than in most of the country and most homes are lived in by their owners. Incomes run a little below the county's, and homes and rents here cost a great deal compared with most American towns. Winters are mild and summers are hot, with plenty of rain through the year and no real snow to speak of.
Work. Many residents work in schools, hospitals and social care, in restaurants, hotels and entertainment, in professional and business services, or in the building trades. Among the largest workplaces in town are Shaner Operating, a hotel company, and Publix Super Markets. Unemployment across Monroe County is low, and a good number of residents work from home.
Things to do. John Pennekamp Coral Reef State Park, a protected area, lies in or beside town, and the Dagny Johnson Key Largo Hammock Botanical State Park, another protected area, is a short drive away. For a longer outing, Everglades National Park and Biscayne National Park are both a longer drive away, and Theater of the Sea, a zoo, is also a longer drive.
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- 5,263households
- 39%of adults have a degree
- 10%below the poverty line
- 26 mintypical commute
- 12%work from home
What residents work in
Employed residents by industry, from the Census survey. Monroe County had 47,299 jobs in 2025, 0.5% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 76° and lows near 63°; warmest in August, with highs near 90° and lows near 79°. About 57 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the John Pennekamp Sp weather station, 6 miles away (NOAA).
Largest workplaces in Key Largo
- Shaner OperatingHotels249
- Publix Super MarketsSupermarkets and other grocery stores172
- Davidson Hotel CompanyHotel management services142
- KEY LargoMail and parcel delivery29
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 4 workplaces with 20 or more staff, 592 people in all. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Coastal floodingVery high
- HurricanesVery high
- LightningRelatively high
- Strong windrelatively high in parts of Key LargoRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Key Largo’s census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Monroe County and the Key West, FL metro.
Key Largo home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Key Largo$1,094,723
- Florida$375,361
- United States$366,157
Sellers are cutting prices on about 1 in 6 Key Largo listings, and the typical home goes pending in 107 days — the market is heating up.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Key Largo17.44%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Key Largo107
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Key Largo235
New listings per month
Sellers arriving at the market.
- Key Largo29
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Key Largo$1,173,750
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Key Largo95.05%
Zip codes with a Key Largo address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Key Largo — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.