Ocean Walk
3900 S Roosevelt Blvd,
Key West, FL 33040
Studio - 3 Beds | $2,533 - $4,185
Rental Market Trends in Key West, FL
What is the average rent in Key West, FL?
$2,529/month
Average Rent
644 Sq Ft
Average Apartment Size
+6%
Increase in the Last Year
As of December 2024, the average rent in Key West, FL is $2,529 per month. This is 62% higher than the national average rent price of $1,560/month, making Key West one of the most expensive cities in the US. When you rent an apartment in Key West, you can expect to pay about $2,645 per month for a studio, $2,529 for a one-bedroom apartment, and around $3,139 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,504 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Key West, FL?
In the past year, rent has increased by 6%, which averages out to $153 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Key West, FL
Last Updated December 2024
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
11%
$1,001 - $1,500/month
22%
$1,501 - $2,000/month
67%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Key West?
Based on current rent prices, Key West is the most affordable neighborhood in Key West.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Key West?
Based on current rent prices, Key West is the most expensive neighborhood in Key West.
Neighborhood
Average Rent
Average Sq Ft
Which Key West neighborhoods have the most rentals available?
The neighborhood in Key West with the most apartments available is Key West .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Key West, FL?
Because the average rent in Key West is $2,529, you’ll want to make about $8,430 per month or $101,160 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Key West, FL compare to other nearby cities and neighborhoods?
Use the tool below to compare Key West, FL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$2,645/month
$2,645/month
One Bedroom
$2,532/month
$2,532/month
Two Bedroom
$3,136/month
$3,136/month
Three Bedroom
$3,504/month
$3,504/month
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.