At $3,635/mo, rent takes about 51% of the local median household income, well above the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,635 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Key Largo changed +2.7% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
Rent rose in 6 of the last 12 months.
30% of the median household income ($85,778) is $2,144 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,870); a 2-bedroom is $2,240.
Florida City, 15 miles away, rents for 30% less ($2,553/mo), about $13,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Key Largo. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Key Largo, FL is majority owner-occupied, has a large retiree population, 39% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Key Largo, FL has changed in 5 years
Census figures show median household income at $85,778 today, compared with $66,463 five years earlier. Census counts show Key Largo, FL adding about 2,172 residents over the five-year window, up 20.0% on net. Bachelor's-degree-or-higher attainment moved from 34.6% to 39% across the same window.
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Can you afford rent in Key Largo on your salary?
At $3,635/mo, how Key Largo rent compares to typical pay (30% rule).
Key Largo rent by bedroom count
Median rent for each apartment size in Key Largo. Click any size for full breakdown.
Tips for renters in Key Largo
Last updated: October 17, 2026
The median rent in Key Largo is $3,635/mo as of October 2026. A studio apartment averages $1,540/mo while a 2-bedroom runs $2,240/mo. One-bedroom apartments average $1,870/mo and 3-bedroom units go for $2,980/mo.
At 51% of local median household income ($85,778/yr), Key Largo ranks as expensive compared to the national benchmark of 30%. Rents have increased 2.7% over the past year.
Frequently asked questions
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Is rent going up or down in Key Largo?
How does Key Largo rent compare to other cities in Florida?
Which nearby cities are cheaper to rent in than Key Largo?
At $3,635/mo, rent takes ~51% of Key Largo's median household income ($85,778/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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