What HUD offices serve Key West, Florida?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Florida Public Housing and Low-Income Apartments Waiting Lists page for openings near Key West.
How many renters live in Key West, Florida?
The City of Key West has people living in households.
There are renters living in renter households in this City. Renters make up 51.08 percent of the population living in Key West.
What is the rental market like in Key West, Florida?
There are an estimated housing units in the Key West area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Key West, Florida, there are 1.19 rental units.
What is the vacancy rate for rentals in Key West?
The rental vacancy rate in Key West is 16 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Key West for each bedroom size?
Occupied Rental Units by Size in Key West
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 538 | 1,536 | 2,458 | 1,235 | 223 |
Occupied Rental Units by Size in Key West
A large number of apartments in Key West have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Key West
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,556 to $3,426. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,556 |
| One BR | $1,730 |
| Two BR | $2,139 |
| Three BR | $2,812 |
| Four BR | $3,426 |
2024 Fair Market Rents in Key West, Florida
How many units are rented at Fair Market Rent (FMR) in Key West?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 334 | 62 percent |
| One BR | 459 | 30 percent |
| Two BR | 689 | 28 percent |
Rental Units Below FMR in Key West, Florida
How many affordable rental units are in Key West?
There are a variety of federal affordable housing programs serving households in Key West, Florida including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 236 Rental Assistance | |
| Section 811 Supportive Housing for Persons with Disabilities |
Tracked Units by Federal Program in Key West, Florida
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Key West, Florida
Key West features 734 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Key West, Florida
There are 521 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Key West.
Housing Choice Vouchers in Key West, Florida
On average, Section 8 Housing Choice vouchers pay Key West landlords $1,000 per month towards rent. The average voucher holder contributes $600 towards rent in Key West.
The maximum amount a voucher would pay on behalf of a low-income tenant in Key West, Florida for a two-bedroom apartment is between $1,925 and $2,353.
Sourced from federal housing data and AffordableHousingOnline.com research.