Florida Keys Real Estate
Located south of Miami, the Florida Keys are a coral cay archipelago sitting just off of Florida’s
southern coast. Known for its gorgeous beaches, laidback lifestyle, and rich ecological diversity,
it’s a top vacation destination in the country.
But what makes people here turn from tourists to homeowners? Here are 3 reasons why many
property investors want to own Florida Keys real estate (as well as 2 reasons why you should
give it careful consideration):
PRO: It’s a lucrative investment
One of the best ways to grow wealth and have an alternative income stream is by owning a
vacation rental. In a tourist hotspot like the Florida Keys, renting out a vacation property will
not only help you cover your monthly mortgage, but it can also provide you with a consistent
The biggest risk you can face as a vacation rental owner is having your property sit empty for
long periods of time. But in the Florida Keys, with the right marketing, you’re less likely to be
affected by high vacancy levels. With its tropical climate and year-round fishing and diving
activities, you can expect a steady stream of tenants in every season.
CON: It may not be appealing to those who don’t like tourist crowds
What makes visitors from all over the world flock to the Florida Keys is the abundance of
nature-centric activities, from scuba diving to bird watching. But those looking for metropolitan
comforts and conveniences, like malls and movie theaters, might struggle to find engaging
PRO: It offers a starting point for many outdoor adventures
Home to over 1,700 islands, the Florida Keys offer outdoor enthusiasts a wide range of places
to explore. You can kayak around the islands’ nature tidal creeks, hike along the Great Florida
Birding and Wildlife Trail, or go scuba diving and explore the US’ only living coral barrier reef.
Owning a home in this area will cut down on hotel and accommodation costs. Moreover, you’re
almost always guaranteed to live near or at the beach. The location of the island chain also
ensures that homeowners can witness a beautiful beach sunrise and sunset everyday.
CON: It has a relatively high cost of living
While the Florida Keys isn’t the most expensive real estate market in the state, living in an
island paradise can still come at a cost. Its natural beauty and beachfront access makes it a
choice location for numerous luxury estates and condos. Bear in mind that less than 10% of the
archipelago is inhabitable, which puts land at a premium. Key Largo, for example, has a median
listing home price of nearly $1.5 million (as of January 2023).
The cost of living in the Florida Keys can be expensive as well. Because of the limited routes to
the islands, there tends to be additional transportation costs for commodities such as food. The
location and climate of the Florida Keys also make homes susceptible to damage due to the
climate, inclement weather, and wild animals, which can add to your usual maintenance and
PRO: Ensure your money holds value over time
Investing in Florida Keys real estate is a great way to grow wealth and add diversity to your
portfolio. Whether you want to generate an income stream by managing it as a rental, use it as
your own personal vacation home, or save it for retirement, your property is likely to appreciate
in value over time.
The Florida Keys have a strict growth and development ordinance for residential and
non-residential properties. This is critical in keeping the local housing market stable and
insulated from major housing trends that are affecting the rest of the country, which, in turn,
protects your hard-earned investment.