Florida Keys

A quieter and more affordable alternative to Key West, the Marathon to Long Key stretch of the Florida Keys offers light regulation and some great deals for those who know where to look.

Overview

Located in the central stretch of the Florida Keys and popular with vacation rental guests, the Marathon to Long Key vacation rental region combines tropical seclusion with access to restaurants and grocery stores. With less of a party vibe than Key West, this region is popular with campers, divers, and eco-tourists. Stay north around Long Key island to invest in a less developed area or look south to Marathon to be closer to the “city” (that’s a relative term; everything out here is small). Vacation rental real estate between Marathon and Long Key is made up of both inland and beachfront single family homes that run the price gamut.


Insider tip

The key to buying a vacation home in the Florida Keys is understanding zoning and investing in a community that offers the right license for your rental goals. For example, all homes in Marathon and Key Colony Beach—both of which are located in this vacation rental region—are weekly rentals and can be licensed easily. With a median home sale price of nearly half a million dollars, this region seems expensive, but there are a lot of affordable homes that make great vacation rentals and can deliver a big return if you know where to look. (Our local real estate partners will be happy to point you in the right direction.)

Learn more and compare the Florida Keys with other top markets in our insider's guide to the best places to buy a vacation rental.

Market size

500+ rental units

Median annual rental revenue

$48,970

Median home price

$600,100

Cap rate

5.6%

*This document is for information and illustrative purposes only. It is not intended to provide “investment advice” or a “recommendation” regarding a course of action. The discussion is general in nature and has not taken into account your personal financial position or objectives. You should consult a licensed financial advisor or other professional to discuss your specific situation.

Estimated rental income figures and home sale prices are based on historical averages; for any specific property, the actual revenue, purchase price, and cap rate may differ materially from estimated amounts and depend on a wide range of factors outside Vacasa's knowledge or control, such as the property's condition, layout, and furnishings; expenses associated with the acquisition and ownership of the property (such as property taxes, utility fees, HOA fees, insurance fees, and mortgage-related expenses); rental calendar availability; existing and future regulations; current and future economic, social, and political trends and conditions; and weather and environmental factors. These estimates do not take into account the potential impact of state income taxes.

Vacasa makes no representations or warranties, express or implied, about the accuracy of this document. Furthermore, Vacasa has no obligation to update, modify or amend this document or to otherwise notify users in the event that any opinion, assumption, forecast or estimate set forth herein changes or subsequently becomes inaccurate. Therefore, you should not place undue reliance on statements in this document.

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