Key West is a moderately-sized city located in the state of Florida. The city has a population of 26,039 inhabitants. Key West has a population density of 4,650 people per square mile. This would be considered well above the national population density level. According to the most recent Census, 84% of Key West residents are White, 12% Black and 1% Asian. 77% of the people in Key West (over the age of 15) are married and 70% have kids under the age of eighteen. Knowing that, it’s safe to say that this area could be a great place for other families to lay down roots.
Whether you’re moving to a new town to be closer to family, friends or for a new job, living in Key West could be a positive experience compared to other cities in Florida if you know where to look. Using the livability score which includes data from categories like crime, cost of living, weather, you can easily compare the best places to live in Key West and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Key West to Florida and the national average.
Key West, FL receives 67/100 for its livability score; this results in a ranking of #701 in Florida and #15,041 in the USA. There are seven total categories that generate the livability score. Key West scores well for amenities (A+) and weather (A). The bad news for Key West, there are some categories for which it does not rank well, this includes: crime (D-), cost of living (F), education (D) and housing (D).
Conveniently located amenities and interesting attractions are a great way to continuously enjoy Key West on a regular basis. Knowing that there are an abundance of amenities and things to do can ensure that you always have access to nearby grocery stores, restaurants and coffee shops. Some of the notable things to do include: Fury Water Adventures Key West, Duval Street, and Mallory Square.
Assuming that Key West meets all of your requirements, the next most important item to examine is the affordability of real estate in Key West. Everything else becomes a lot less important if it turns out that home prices in Key West are simply unattainable. The median home price for Key West homes is $474,100, which is 184.2% higher than the Florida average. If we take a closer look at the affordability of homes in Key West, we’ll see that the home price to income ratio is 8.1, which is 138.2% higher than the Florida average. Knowing if your home will appreciate on a long term or even a short term basis should be factored into your decision making. An increase in your home’s value can be a good way to generate tax-free equity that can create long term financial security. In the past year, appreciation rates for homes in the Key West area were 10.9% and 5 year appreciation rates were 10.2%.