Key Largo, FL

Very High · 149

Florida · Population 12,069 · Updated March 2026

$1,889
Median Rent / Month
$78,906
Median Income
$626,300
Median Home Value
$1,459
Owner Costs / Month

Affordability

How far your income goes in Key Largo

28.7%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$22,668
Annual Rent
$0
State Income Tax
$5,386
Property Tax (est.)

Cost of Living Overview

Key Largo has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 149 (where 100 equals the national median), Key Largo residents can expect to pay median rent of $1,889/month while earning a median household income of $78,906/year.

The median home value in Key Largo, FL is $626,300, with typical monthly owner costs around $1,459 including mortgage, insurance, and taxes. With a rent-to-income ratio of 28.7%, Key Largo falls within the generally affordable range, though it's approaching the 30% burden threshold.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Key Largo.

Frequently Asked Questions

Common questions about living costs in Key Largo

What is the cost of living in Key Largo, FL?
The cost of living index in Key Largo, FL is 149 (US average = 100). Median monthly rent is $1,889, median household income is $78,906/year, and the median home value is $626,300.
Is Key Largo, FL affordable?
No, Key Largo is more expensive than the national average with a cost index of 149. The rent-to-income ratio is 28.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Key Largo, FL?
The median gross rent in Key Largo, FL is $1,889 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,668.
What is the median household income in Key Largo?
The median household income in Key Largo, FL is $78,906 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.