Florida Keys

As of May 2026, Key West, Stock Island have 6,527 active Airbnb and VRBO listings. This represents a 1% decrease from the previous year.

The average Airbnb or VRBO in Florida Keys generates $76K per year. High-performing properties earn $211K/year, while low-performing properties earn $32K/year. This massive revenue disparity suggests that earnings are heavily skewed toward a small subset of premium assets, indicating that market performance is driven more by asset-specific appeal than general demand.

Average home prices in Florida Keys vary by property size: 1-bedroom properties cost approximately $529K, 2-bedroom homes average $773K, 3-bedroom properties are around $1.1M, and 4+ bedroom homes average $1.7M. These prices reflect median home values across the Key West, Stock Island area.

Airbnb and VRBO can be profitable in Florida Keys, with an average gross yield of 8% across all properties. High-performing properties achieve yields up to 22%, which is considered top for short-term rental investment. Such a wide gap between average and top-tier yields illustrates that while the broader market faces revenue headwinds, elite assets remain resilient against broader contraction.

The average occupancy rate for Airbnbs and VRBOs in Florida Keys is 37%. This occupancy level, combined with an average nightly rate of $569, results in a RevPAR (revenue per available room) of $157 per day.

1-bedroom properties demonstrate the strongest performance in Florida Keys, with an average gross yield of 10% and annual revenue of $54K. These properties balance purchase price ($529K), operating costs, and rental demand most effectively in the Florida Keys market.

Short-term rental regulations vary by jurisdiction in the Florida Keys area. Key West: Strict. Vacation rental license required, owner-occupancy mandatory (min 183 days/year), strict density caps by neighborhood, no new licenses in most areas. Active code enforcement with significant fines and license revocation. Stock Island: Strict. Falls under Monroe County jurisdiction. Vacation rental permit required, limited allocations, owner-occupancy rules apply. County actively enforces through complaints and inspections. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Florida Keys Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 1% year-over-year, while RevPAR has decreased 15%. This indicates balanced supply-demand dynamics. The simultaneous drop in revenue despite stable supply points to a softening in traveler spending power rather than an over-saturation of inventory.

Launch around December, 2-3 months before peak winter season (March peaks). This pre-peak timing lets you build reviews when competition is 41% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (August-September) when gaining traction is harder.

The most common amenities in Florida Keys listings include: Air Conditioning (99%), Kitchen (90%), Washing Machine (80%), Pool (74%), Balcony (68%). Amenities that boost revenue the most include Gym, Pets Allowed, Pool, with Gym properties earning approximately 26% more ($144K/year vs $114K/year).

Monthly estimated revenue per listing in Florida Keys over the last 12 months: May: $4K, June: $4K, July: $5K, August: $3K, September: $2K, October: $2K, November: $3K, December: $5K, January: $6K, February: $7K, March: $10K, April: $7K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Florida Keys is $569, up 7% year-over-year. By property size: 1-bedroom properties average $349/night, 2-bedroom properties average $440/night, 3-bedroom properties average $648/night, 4+ bedroom properties average $1K/night. Rates peak in February and are lowest in September.

Guests in Florida Keys book an average of 54 days in advance, down 7% from last year. By property size: 1-bedroom: 44 days, 2-bedroom: 55 days, 3-bedroom: 60 days, 4+ bedroom: 64 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Florida Keys Airbnb and VRBO market has seen the following changes: supply declined 1%, revenue per listing decreased 15%, occupancy fell 9%, average nightly rates increased 7%, and lead time decreased 7%. These metrics signal a pivot toward shorter booking windows and price sensitivity, as operators attempt to offset lower occupancy with higher rates.

In Florida Keys, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Friday and are lowest on Monday. Weekends show 16% higher occupancy than weekdays.