Key West Cost Of Living For 2021

The Key West cost of living is expected to maintain its current prices from mid to late 2020 until much of 2021 ticks off the calendar. In order to better understand the cost of living in Key West, we'll look at six key categories.
By: Coldwell Banker Schmitt Real Estate
 
KEY WEST, Fla. - Feb. 10, 2021 - PRLog -- Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell Banker Schmitt in Key West.
The Key West cost of living in 2021 is determined by using a baseline national average score of 100. So, anything above is more costly, while anything below is less expensive. Here's how the cost of living in Key West breaks down:
  1. Transportation. Getting around the island and other keys in the island archipelago is relatively easy and not very costly. Key West earns a score of 69, making it very affordable.
  2. Utilities. The cost of cooling, heating, and electricity in Key West is also more affordable than it is in the rest of the state and across the country, earning a score of 99 in Key West, while the statewide score comes in at 101.
  3. Miscellaneous. For odds and ends, you'll pay a tiny bit more in Key West, which earns an affordable score of 107, which is above the state average of 97.
  4. Groceries. Food in Key West runs a bit higher in price, earning a score of 114 on the island, while the mainland peninsula earns a score of 103.
  5. Healthcare. In Key West, the cost of healthcare is more expensive than it is across the state, which earns a 98 on the scale. But in Key West, healthcare is more expensive, earning a score of 145.
  6. Housing. Obviously, housing is the single largest expense in almost every market. Key West earns a housing score of 274, with a median home cost of $633,700, compared to the state average of $237,100 and the national average of $231,200.

As you can plainly see, the cost of living in Key West for 2021 isn't as nearly as expensive as one might expect. Though it is more costly than a number of other markets across the Sunshine State, is one of the most desirable places to live makes it a bit more costly. Now is a good time to seriously consider relocating as interest rates are near historic lows and prices are still affordable.

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 buying or selling Real Estate in the Lower Florida Keys,
see  www.lowerkeys-homes.com

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