A Comprehensive Guide to Florida Keys Real Estate

The Florida Keys extend approximately 100 miles southwest off the tip of southern Florida. They curve below Everglades National Park between the Atlantic Ocean and the Gulf of Mexico. Key West, at the southern tip of the keys, is only about 90 miles from Cuba.

The Keys, surrounded by water, rich with sandy beaches, the third-largest coral reef in the world, tropical vegetation and sea life, enjoy a pleasant climate nearly year-round.

In 1916, Henry Flagler extended his railroad's route south from Miami all the way to Key West. It took more than a decade, and Flagler spent about $30 million of his own money to develop the technology and build the bridges for the planned "Overseas Highway." For Flagler, bringing the train to Key West was the culmination of a long-held dream. 

The railroad magnate's achievement opened the previously secluded Florida Keys to tourism and development, changing the character of the islands forever. It didn't take long for people to discover the mesmerizing beauty and appeal of the Keys lifestyle. They have been a “backyard playground” for Floridians for the past century, a vacation destination for visitors from around the world for decades. More recently, the various islands have become prime targets for second-home buyers and part-time residents. Florida Keys real estate for sale varies from one location to another, but, in general, potential buyers will find attractive and affordable homes in communities all along the chain of islands.

The Florida Keys Today

Much of Flagler's original track was destroyed by a massive hurricane in 1935. Today, US Route 1, part of which was built over the remaining trackbed, remains the only way to drive to the Keys. The fabled Seven Mile Bridge, made famous by a James Bond movie scene, is the longest of 42 bridges that connect the various islands along the highway. It spans the water from Knight's Key, at Marathon in the Middle Keys, to Little Duck Key, and was opened in 1982.

US 1 is still the only highway but many other options exist for getting to the Keys today. Key West has a first-class international airport, cruise ships call at the port adjacent to the naval dock, and recreational boaters, as well as commercial fishing boats and excursion vessels, are active along the entire archipelago. Although the train no longer runs to the Keys, most communities have private aviation fields. Boat ownership among residents is high, and visitors arrive by bus, bike, boat and rental car, as well as by helicopter or limousine.

There are campgrounds and RV parks, rustic cabins to rent, exclusive resort hotels, budget extended-stay options, rental apartments, and single-family homes that run the gamut from simple beach cottages to luxury family compounds. Numerous recreational boaters spend part of the year in the Keys, notably in Marathon, Key West or Islamorada. Maritime excursions and fishing charters are widely available.

Real Estate in the Florida Keys

Condos are increasingly popular housing options in the Keys, but you won't find the view-blocking high rises that punctuate the Atlantic coast from Miami north to St. Augustine. Monroe County has wisely placed limits on population growth with an ordinance that limits Florida Keys real estate growth. That legislation has contributed to what is a strong and stable real estate market. Although prices still have not surpassed values reached in 2006, before the recession, Florida Keys homes for sale represent good value and continue to appreciate at a steady rate. Demand is high throughout the chain.

The full-time population in the Florida Keys remains fairly low, but the number of seasonal residents, second-home owners, and occasional long-term visitors has increased enormously in recent years. Demographics vary substantially from one community to another, as do real estate prices. The islands boast retirees, families, "snowbirds" from the north, young professionals, artists and craftspeople, restaurateurs, boat captains, tour operators, travel agents, hospitality industry workers, and a growing service force to support the expanding population. With such diversity, it is entirely possible to find homes for sale at prices that meet individual needs.

Unique Communities

Many of the communities along the more than 100-mile stretch of islands are equally attractive to thrill-seekers and those who want total escape and relaxation. There is enough activity, both on land and sea, to satisfy the most active visitors as well as those who want only sun, sea and tranquility. Vacationers come from all over the world to snorkel, scuba dive, fish, swim, play, eat and relax. Some come to stay. A growing number of regular visitors choose to find the perfect part-time residence; others purchase a vacation home with the intention of retiring to "paradise."

If you're interested in Florida Keys property for sale, this guide will serve as an introduction to some of the more popular locations. This overview, however, only briefly touches on the distinctive features of the best-known keys. A large part of the appeal of the Florida Keys is their diversity. Settling into the daily lifestyle of a Key Largo neighborhood, or in Marathon, will be different from life in Key West. The charm, however, is that living in any community puts you in relatively close proximity to all that’s available.