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Key West Cost of Living For 2020
It will likely not change much from its current state into the next year. So, if you're considering relocating to the Lower Florida Keys, particularly to Key West, you should know what to expect.
By: Coldwell Banker Schmitt Real Estate
Located in the southernmost portion of the United States, situated between the Gulf and the Atlantic Ocean, the Lower Florida Keys are a subtropical paradise. With a breeze coming off the water, summers warm and balmy, winters super-mild, and spring and fall spectacular.
Let's take a look at the cost of living in Key West. We'll use a score of 100 as a baseline for the national average. Anything above is more expensive. While anything below is less expensive. Here's the cost of living in Key West, broken down by six categories:
• Transportation. Cost of getting around is less expensive in Key West than the national average, with a score of 69. So, it's very affordable to commute.
• Utilities. Cost of utilities in Key West is also lower than the countrywide average, with a score of 99. Which helps to reduce monthly expenses.
• Miscellaneous. For odds and ends in Key West, the costs are just a bit above the national score, coming in at 107, which is only moderately more.
• Groceries. Cost of food in Key West is also above the national average. (This is due to the fact Key West is an island that's the furthest from the mainland peninsula.) Here in Key West, the cost of groceries comes in with a score of 114, which is only a bit more.
• Healthcare. Cost of healthcare in Key West is also a bit more expensive, with a score of 145.
• Housing. Of course, the single most expensive element of living in Key West is the cost of housing, with a score of 274. The median home cost in Key West is $633,700 at this time.
Fred Mullins, P.A. holds an MBA, B.S., Real Estate license, United States Coast Guard Master Captain's license and commercial pilot's license. With over 20years of cross-functional experience in real estate, international asset management, and construction management, Fred's experience places him as one of the top real estate professionals in the Florida Keys. For help with buying or selling Real Estate in the Lower Florida Keys, see http://www.lowerkeys-