Key Largo, FL—33037
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Key Largo, FL
As of Oct '25, the median home price in Key Largo, FL is $1,058,000, with a year-over-year change of -5.1%. This indicates that home prices in Key Largo, FL are decreasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,058,000 | -5.1% |
| Single Family | $1,027,000 | -4.6% |
| Condos | $1,382,000 | -4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $701,000 | -9.2% |
2 Bed | $757,000 | -6.3% |
3 Bed | $1,109,000 | -4.0% |
4 Bed | $2,410,000 | -2.3% |
| 5 Bed | $3,891,000 | -0.3% |
% of Housing Stock
Rental Trends — Key Largo, FL
As of July '25, Rentcast reports the average rent in Key Largo, FL is $3,880, with a year-over-year rent change of -12.2%. Per bedroom, the median rent as of July '25 in Key Largo, FL is studios: $2,200, 1-bedrooms: $2,230, 2-bedrooms: $3,240, 3-bedrooms: $4,290, 4-bedrooms: $6,170. The most common rental property sizes in Key Largo, FL are 3-bedroom and 2-bedroom, accounting for 37.5% and 35.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,600 | $3,880 |
| Studio Rent | $2,200 | $2,200 |
| 1 Bed Rent | $2,100 | $2,230 |
| 2 Bed Rent | $3,000 | $3,240 |
| 3 Bed Rent | $4,000 | $4,290 |
| 4 Bed Rent | $5,750 | $6,170 |
% of Rental Stock
Property Listings — Key Largo, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Key Largo, FL is 117. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,410,000 | 15.0% |
Listing Count | 295 | -8.0% |
| Listings as % of Homes | 2.4% | -8.0% |
Days on Market | 117 | -1.0% |
Demographics — Key Largo, FL
As of the latest ACS Survey released in 2023, Key Largo, FL has a population of 13,700, which has increased by 24.8% over the past 5 years. Key Largo, FL is a less popular place for families, as children make up 12.8% of the population. The area has a moderately educated workforce, with 40.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,700 | 24.8% |
% Under 18 | 12.8% | -10.5% |
% Seniors | 31.9% | 10.4% |
% WFH | 10.3% | 56.1% |
% w/ College Degree | 40.6% | 24.2% |
As of the latest ACS Survey released in 2023, Key Largo, FL is a predominantly white area, with 68.8% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Key Largo, FL is hispanic, making up 25.9% of the population. Foreign-born residents account for 21.0% of the population in Key Largo, FL, and this percentage has increased by 32.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.8% | -8.4% |
% Black | 2.7% | 58.8% |
% Hispanic | 25.9% | 25.1% |
% Asian | 0.5% | -50.0% |
% Foreign Born | 21.0% | 32.9% |
Mortgage and Risk — Key Largo, FL
According to HUD data as of 2023, there were 261 mortgage originations in Key Largo, FL, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Key Largo, FL. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 261 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 3.0% |
% Second Loans | 32.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Key Largo, FL
Key Largo, FL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 146 |
Total Units Section 8 | 96 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$230 | $2,100 | $1,870 |
| 2 Bedroom | -$760 | $3,000 | $2,240 |
| 3 Bedroom | -$1,020 | $4,000 | $2,980 |
| 4 Bedroom | -$2,460 | $5,750 | $3,290 |
Affordability — Key Largo, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 13.1 |
| Median Home Price | $1,058,000 |
| Median Household Income | $80,900 |