In Key West, the current, local real estate market is active, benefiting both from year-round sales and from seasonal renters. Make no mistake, Key West is one of the most popular places to buy or rent property. If you are looking and are new to the island, you might be in for a shock when you learn a search of asking prices for two-bedroom homes revealed average costs of $200,000 and above. The cost of living is very high, and salaries on the island do not keep up. In fact, salaries are much lower than they are in the rest of the United States.

Seasonal rentals go for approximately $2,000 to $4,500 a month. Several luxurious locations go for more. No matter what your budget, youll have access to beautiful beaches, loads of palm trees, magnificent views, gorgeous sunsets, and the learning experience of living amidst a culturally diverse and accepting population. Short-term rentals are the way to go if youre looking to get a feel for the place before you make a long term commitment or if you get need a winter get-away and cant afford to buy. If youre not interested in monthly rentals, places are available on a nightly and weekly basis.

Key West real estate can actually vary in price ranges, depending on the neighborhood. If you are looking in the trendier areas, prices will be higher. On the other hand, you can get a place outside the retail sectors at much lower rates, but the neighborhoods may or may not be to your liking.