Moving to Key West Florida and the Cost of Living

Moving To Key West & The Cost Of Living In Key West

2022 Update: This Key West article was written in 2018. Costs have changed drastically since then and even more scrutiny needs to be giving when considering a move to Key West

Just about anyone who loves the Island & Beach Life has thought about moving to Key West in Florida at one point in their life. However, very few consider the cost of living before actually moving.

Assuming of course you do not already live in Key West, it can seem a bit challenging to get there. Just like any other move, you need to take into consideration your typical moving expenses, housing, and perhaps a new career. But moving to Key West is not really the tough part. Residing there with an unexpected increased of living expenses can be the real challenge.

Unlike any other town in the USA, the mention of "Key West" brings to mind a lazy carefree life.

Relaxing ocean side or bar hopping on Duval Street or visiting The Green Parrot is a daily experience for anyone that wants to live it, right? Suddenly you start to think of selling your house in Massachusetts, quitting your job, piling everything into a U Haul, and taking the trek.

Slow down there!
The reality is the streets of Key West are not lined with gold. Even though Route 1 will bring you right to the island, you are still living on an island. That means everything will start to get more expensive. Gas, food, and housing are much more that on the main land. Because Key West is 3 hours from Miami, the expense of getting goods and supplies to the island will hit your wallet a bit harder. Living in Key West is also very desirable, thus driving up the costs due to basic supply and demand economics. You need to take all of this into consideration before moving to Key West.

Here are some things top to consider before moving to Key West:

Get a job lined up. This is probably the most challenging thing to have ready. Unemployment is high and job competition is fierce. Unless you have a specialized skill that is in demand and limited, you will likely be landing a tourist related job. Food service workers and gift shop cashier positions are going to be the most common and tough to get. You may want to consider going to the island first and meeting potential employers instead of trying to get a job over the phone.

Find Housing. A 1-2 bed room cottage or apartment could easily cost $1200-$1800 a month. In many cases it will be much more. A 2-3 Bedroom home could be in the $300-500k range. That is for something that needs a LOT of TLC. Something decent and ready to move into is much closer to the $1,000,000 mark. Condo's of course will be much cheaper.

Food. You will find a few common big box grocery stores with prices a bit more than on the main land. However, your local restaurants and sub shops are operating on island time too, and have a budget to match. Expect to pay resort prices for your prepared meals and cocktails.

Gas. 87 Octane will run about 10% more than on the main land.

Family. It's a great place to visit, but Key West is not always family friendly. An excessive amount of locals and tourist are in party mode and tend to be more adult themed. Also, the low rated public schools are common and a turn off as well for parents.

So how can you justify moving to Key West on a budget? There are a few options.

Prepare. Make a trip to the mainland for visits to your local Costco or BJ's and stock up.
Get a roommate. Two roommates could be even better. Cut your rent and utility bills in half or more.
Get a bike. Driving in Key West can be a nightmare. You will find it much easier to ride a bike as the island is small enough. You will save not only time, but gas.
When you need supplies locally, avoid Duval Street. Duval Street is the main tourist area so everything will be more pricey.
Don't live in Key West. Many people that work in Key West do not live there. They will find a place to stay a few keys up and drive to work. Sure, you may not be living next to Mallory Square, but you are very close and the sunsets are still the same.

If you plan accordingly, there will be little surprises. If visiting Smathers Beach, going snorkeling, people watching, biking, boating, and kayaking (to name a few) are worth it when you are not working, then the decision is easy to make. Move to Key West and be the envy of your friends. Be smart and live the Island & Beach life that many of us want to be a part of.

Do you need some resources for moving to Key West?

Gas Prices. FloridaGasPrices.com
City of Key West Web Site. KeyWestCity.com
Jobs Monster.com Key West
Real Estate Coldwell Banker Florida Keys

Moving To Key West & The Cost Of Living In Key West Southernmost Buoy

72 comments

Brenda May 22, 2016

Had to chuckle when I saw “Key West is 3 hours from MAIMI”…….you definitely got the MAIM part right!. I have lived in Homestead, about 40 minutes south of It, almost my entire life. A major problem for anyone driving to/from the Keys is the two-lane US1 with concrete wall median when there is a traffic accident…..almost impossible for police and rescue to arrive on scene due to bumper-to-bumper stopped traffic. The most serious situation is when a hurricane is an eminent threat….what would be a normal 3-4 hour drive can become a 10-12 hour nightmare.
Jon Seibert May 21, 2016

You have to want to live in KW to move here, most have to make some form of sacrifice . But to fulfill your dream it’s worth it. Most quoted house prices are off, as a Realtor on the island I can find you something to buy for almost all budgets. Just sold a nice 3 bd. Condo in old town, 5 blocks from Duval, for 475k. And a few miles up the keys it is much cheaper. If you are serious and ready to make your dream come true call me . C-21 Schwartz, Jon Seibert 305-433-0552
Jon Seibert May 21, 2016

You have to want to live in KW to move here, most have to make some form of sacrifice . But to fulfill your dream it’s worth it. Most quoted house prices are off, as a Realtor on the island I can find you something to buy for almost all budgets. Just sold a nice 3 bd. Condo in old town, 5 blocks from Duval, for 475k. And a few miles up the keys it is much cheaper. If you are serious and ready to make your dream come true call me . C-21 Schwartz, Jon Seibert 305-433-0552
Steve Ness May 20, 2016

We just returned from KW, as we talked to many locals, affordable housing is THE major problem for KW right now, working two jobs is a must for most, but as one couple said “your be amazed what you can live without”We check the real estate listing, prices started at 700k for a fixer upper to 8m.Would love to live there one day be at this point we’d have to hit the lottery.
Billy May 20, 2016

We are in the process of searching for a vacation home and in this current market a 1/1.5 in old town will run $500k+. 2/2 is $650+ and these are not updated cottages or condos, lots of TLC needed.