Monroe County · Florida · South · 26k residents
Key West, FL: economy, jobs & business costs
The site-selection read on Key West: labor costs, talent, corporate tax, energy, and business activity, with the Florida median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,197/wk. Florida's corporate income tax rate is 5.5%. Commercial electricity averages 11.0¢/kWh.
Compare Key West side by side
Avg. weekly wage
$1,197/wk
Corporate income tax
5.5%
Bachelor's degree or higher
41.3%
Commercial electricity
11.0¢/kWh
Economic momentum
How fast Key West's economy is moving, ranked against the US cities we track.
55/100
Steady
Ranks Key West's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $852,400 |
| Price per sq. ft. | $260 |
| Property tax rate | 0.8% |
| 1-bedroom rent | $2,053/mo |
| 2-bedroom rent | $2,445/mo |
| State & local income tax | 0% |
| Sales tax | 7% |
| Corporate income tax | 5.5% |
| Avg. weekly wage | $1,197/wk |
| Bachelor's degree or higher | 41.3% |
| Commercial electricity | 11.0¢/kWh |
| Businesses per 1k residents | 61.1/1k |
| Wage: Software developer | $130,980 |
| Wage: Registered nurse | $84,190 |
| Wage: General manager | $101,580 |
| Wage: Customer service | $40,440 |
| Wage: Warehouse worker | $36,400 |
| Wage: Heavy truck driver | $50,640 |
| Wage: Electrician | $57,250 |
| Wage: Retail salesperson | $34,010 |
| Cost of living index | 142 |
| Groceries index | 103 |
| Utilities | $180/mo |
| Transit pass | $65/mo |
| Gas price | $3.25/gal |
| Healthcare index | 100 |
| Childcare (per child) | $1,000/mo |
| Median household income | $87,037 |
| Unemployment rate | 3.3% |
| Population | 26k |
| Crime index | 45/100 |
| School rating | 5.8/10 |
| Walkability | 30/100 |
| Disaster risk | 92/100 |
| Avg. commute | 28 min |
| Sunny days / year | 240 days |
| July high | 90°F |
| January low | 66°F |
| Annual snowfall | — |
| Home price YoY | -3.6% |
| Home price MoM | -0.2% |
| Rent YoY | +1.8% |
| Rent MoM | +0.1% |
| Employment (jobs) YoY | +0.3% |
| Building permits YoY | +7.4% |
| Ocean coast | < 3 mi |
| Big lake | 175 mi |
| Mountains | 663 mi |
| Major airport | 126 mi |
| Ski resort | 770 mi |
Popular comparisons
Nearby
- Homestead, FL · 83k
- Leisure City, FL · 28k
- Princeton, FL · 43k
- Richmond West, FL · 36k
- South Miami Heights, FL · 39k
Similar size
- Northdale, FL · 26k
- Tarpon Springs, FL · 26k
- Keystone, FL · 26k
- South Bradenton, FL · 26k
- World Golf Village, FL · 26k
Real listings in Key West
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Key West a good place to run a business?
- Florida's corporate income tax rate is 5.5%; average weekly wages in the surrounding labor market run $1,197/wk; commercial electricity averages 11.0¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Key West, FL?
- Key West indexes at 142 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $2,445/mo and a acs median home value of $852,400.
- How much does a house cost in Key West?
- The acs median home value in Key West is $852,400 (Census ACS estimate; individual listings vary).
- How much is rent in Key West?
- A two-bedroom in Key West rents for about $2,445/mo.