Key Largo, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Key Largo, FL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Key Largo Housing Market Information

With a population of 11,102, 4,207 total housing units (homes and apartments), and a median house value of $501,290, Key Largo house prices are not only among the most expensive in Florida, Key Largo real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Key Largo, accounting for 54.35% of the town's housing units. Other types of housing that are prevalent in Key Largo include mobile homes or trailers ( 23.67%), large apartment complexes or high rise apartments ( 14.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.90%).

Dwellings in Key Largo tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.68% of the homes in Key Largo have two or fewer bedrooms.

There is a lot of housing in Key Largo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Key Largo built between 1940-1969 ( 16.99%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.17%).

A decent proportion of the Key Largo housing stock is seasonally occupied. That is, homes and condos in Key Largo are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Key Largo housing market speaks to its popularity as a vacation location of choice.

Key Largo Home Appreciation Rates

Key Largo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Key Largo during the period has been just -1.33%, which is lower than 70% of US communities.

Appreciation rates are so strong in Key Largo that despite a nationwide downturn in the housing market, Key Largo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Key Largo appreciation rates continue to be some of the highest in America, at 9.09%, which is higher than appreciation rates in 91.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Key Largo. Key Largo appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.89%.

Relative to Florida, our data show that Key Largo's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Key Largo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Key Largo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Key Largo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$501,290

Key Largo, FL HOME PRICES

Value Range
> $1,347,000 8.7
$1,010,001 - $1,347,000 6.1
$674,001 - $1,010,000 16.2
$539,001 - $674,000 6.9
$404,001 - $539,000 16.9
$270,001 - $404,000 21.7
$135,001 - $270,000 13.9
$67,001 - $135,000 4.5
$0 - $67,000 5.1

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
5.9064807219032 9.18803418803419

Number Of Homes And Apartments:
4,207

Key Largo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
127.37% 4.88% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,714 / per month

Homeownership Rate

Homeownership
Owners 72.24
Renters 27.76
Vacant 52.44

Housing Market Details

 

Age of Homes

AGE OF Key Largo HOMES
2000 or Newer 12.2
1970 - 1999 70.4
1940 - 1969 17.0
1939 or Older 0.4

Types of Homes

TYPE OF Key Largo HOMES
Single-Family 54.3
Townhomes 3.4
Small Apt. Buildings 3.9
Apt. Complexes 14.5
Mobile Homes 23.7
Other 0.1

Home Size

SIZE OF Key Largo HOMES
No Bedroom 1.10
1 Bedroom 8.50
2 Bedrooms 47.08
3 Bedrooms 34.53
4 Bedrooms 6.94
5 or more bedrooms 1.85

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Zip Codes in Key Largo, FL