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Key West city, FL

ZIP 33040 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 33040

Median Home Value
$766,400
Median Rent
$1,908
Affordability Snapshot
$211,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$4,923/mo PITI).

29%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

9.7x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

33.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 33040 in Key West city, FL, a household would need roughly $211,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $4,923. That is about 167% above the local median household income ($79,038), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 21% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
48.4%-26% vs US avg
x
Vacancy Rate
20.8%+102% vs US avg
x
Broadband Access
85.9%-1% vs US avg
x
4+ Bedrooms
1.0%-93% vs US avg
x
Built Pre-1939
4.3%-66% vs US avg
x
Built Post-2014
0.8%-88% vs US avg
x
Rent Burden >30%
33.9%-32% vs US avg
x
Mortgage-Free
47.8%+25% vs US avg
x
$766,400
Home Value
$1,908
Rent
1972
Year Built
2015
Moved In

Residents have lived here since ~2015 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached44.1%
  • 1-unit attached10.0%
  • 2-9 units21.7%
  • 10+ units17.4%
  • Mobile home & other6.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$766,400
Median rent$1,908
Owner-occupied48.4%
Vacant20.8%
Price-to-income9.7x
Est. income to buy$211,000