The Quarry
10 Betty Rose Dr,
Key West, FL 33040
1-3 Beds | $2,850 - $4,374
Rental Market Trends in Key West, FL
Updated July 2026
The average rent in Key West, FL is $2,696/month.
Rent in Key West is 62% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$2,696/month
Average Rent
639 Sq Ft
Average Size
+1.6%
Change / Year
107
Available Apartments
Key West rent varies by unit size and layout:
- Studio apartments in Key West average $2,423 per month.
- One-bedroom apartments in Key West average $2,696 per month.
- Two-bedroom apartments in Key West average $3,035 per month.
- Three-bedroom apartments in Key West average $3,513 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Key West, FL?
In the past year, rent has increased by 1.6%, which averages out to $43 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Key West, FL
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
12%
$1,001 - $1,500/month
12%
$1,501 - $2,000/month
75%
Above $2,000/month
What salary do I need to live comfortably in Key West, FL?
Because the average rent in Key West is $2,696, you’ll want to make about $8,986 per month or $107,832 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.
View the Key West Area GuideApartment Communities in Key West We Think You'll Love
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Frequently Asked Questions
What is the average rent in Key West?
The average rent in Key West is $2,696 per month, which is 62.1% higher than the national average of $1,663.
What is the average rent for a condo in Key West?
The average rent for a condo in Key West, FL is $2,735 per month.
Are rents going up or down in Key West?
Rents in Key West, FL are increasing, with prices up 1.6% year-over-year and $43 more per month.
What rent range is most common in Key West?
In Key West, FL, 75% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.