The typical owner-occupied home in Key Largo is worth about $643,900, 79% above the Florida median of $359,000 and 94% above the national median of $332,700. Owners pay a median $3,150 a year in property taxes, about 0.49% of their home's value, lower than the Florida rate of 0.76%. The median household earns $85,778 a year, so the median home costs 7.5 times the median income (4.8 times for Florida). 76% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Key Largo at a glance
| Key Largo | Florida | U.S. | |
|---|---|---|---|
| Median home value | $643,900 | $359,000 | $332,700 |
| Median property tax paid per year | $3,150 | $2,730 | $3,119 |
| Property tax as a share of value | 0.49% | 0.76% | 0.94% |
| Median household income | $85,778 | $74,568 | $80,734 |
| Homes lived in by their owners | 76% | 68% | 65% |
| Owner homes with a mortgage | 40% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,627 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 31.5% | 23.6% | 21.0% |
| Median rent | $1,887 | $1,669 | $1,413 |
| Rent as a share of renters' income | 33.8% | 35.2% | 30.6% |
| Median year homes were built | 1983 | 1988 | 1980 |
| Vacant homes | 39.8% | 14.7% | 10.1% |
| Population | 13,026 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Key Largo
At this week's average 30-year rate of 7.11%, buying the median Key Largo home of $643,900 with 20% down costs about $3,996 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,069, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $171,277 for the 20%-down payment. That payment is 56% of the median Key Largo household income of $85,778; at that income and 20% down, the 28% guideline points to a home of about $322,000.
The median rent here is $1,887 a month, so owning the median home costs about $2,109 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $128,780 |
|---|---|
| Loan amount | $515,120 |
| Principal and interest | $3,465 |
| Property taxes (0.49% a year) | $263 |
| Homeowners insurance (our estimate, 0.5% a year) | $268 |
| PMI | $0 |
| Total per month | $3,996 |
Change the numbers in the calculator
| Down payment | $22,536 |
|---|---|
| Loan amount | $632,237 |
| Principal and interest | $4,253 |
| Property taxes (0.49% a year) | $263 |
| Homeowners insurance (our estimate, 0.5% a year) | $268 |
| FHA mortgage insurance | $285 |
| Total per month | $5,069 |
Change the numbers in the calculator
Questions about home buying in Key Largo
What is the median home value in Key Largo?
About $643,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Key Largo?
Homeowners pay a median $3,150 a year, which is about 0.49% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Key Largo?
For the median home with 20% down at 7.11%, the payment is about $3,996 a month. Keeping that under 28% of gross income takes about $171,277 a year.
More about Key Largo
- Mortgage Refinance in Key Largo
- Debt Relief in Key Largo
- Home Equity Loans in Key Largo
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data