Key West, FL (33040) housing scorecard.
As of 2026-09-12, the typical home in Key West, FL (33040) is worth $957,004, up about 4.8% a year over five years; the Momentum Market Score is 16/100 (expensive against incomes and tight for buyers). Data from Zillow, Realtor.com and the U.S. Census; score by Momentum Realty.
Home value, rent, cap rate, 5-year growth, price versus incomes and our 0 to 100 Momentum Market Score for ZIP 33040, free.
The typical home costs about 12.11 times the local median income, about 142.7% richer than the Florida norm, so value is stretched here. Gross rent yield is around 4.24%. Values are up roughly 4.8% a year over the last five years. Owning the typical home at today's 6.76% 30-year rate takes about 75.5% of a median income in principal and interest, the affordability squeeze in one number. About 19.6% of listings have cut their price.
Typical home value, last 13 months
What drives the score
Each bar ranks this ZIP against every other Florida ZIP (0 = lowest, 100 = highest) on that input, then weighted into the score. Full methodology.
Common questions
Is Key West, FL (33040) a buyer's or seller's market?
By the Momentum Market Score, Key West, FL (33040) reads frothy (16 out of 100), meaning it is expensive against incomes and tight for buyers. The score blends value versus incomes, price cuts, inventory growth, affordability and rent yield.
What is the typical home value in Key West?
About $957,004 (Zillow Home Value Index, 2026-09-12), up roughly 4.8% a year over five years.
Where does this data come from?
Zillow Research (home value, rent), Realtor.com (days on market, listings), U.S. Census (income, population), Freddie Mac via FRED (rate). Score and derived metrics by Momentum Realty, methodology here.
Data: Zillow Research, Realtor.com, U.S. Census Bureau ACS, and Freddie Mac 30-Year Fixed Rate Mortgage Average [MORTGAGE30US] via FRED. Score by Momentum Realty.
Housing distress & ownership in ZIP 33040
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing data provided by Florida Keys MLS, Inc. Information is deemed reliable but is not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Looking in Key West?
A ZIP-level score is the lay of the land. We know the streets. Talk to the founders.
Talk to the founders