Cost of Living in Key Colony Beach, FL

With a cost of living index of 160, Key Colony Beach, FL is one of the most expensive cities in the United States. Living here is 60% more expensive than the national average and 50% above the Florida state average of 110. Key Colony Beach is a small community of 525 residents.

Housing costs are the biggest factor in Key Colony Beach's cost of living. The median monthly rent is $1,849 (40% above the US median of $1,319), and the median home value sits at $834,800 (174% above the national median of $304,900). At current prices, the median home costs roughly 8.8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Key Colony Beach is $94,531, which is 26% higher than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Key Colony Beach. The area sees an average annual temperature of 78.8°F, with summers averaging 85°F and winters around 72°F. Annual rainfall totals 39.7 inches spread over roughly 112 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.