Rent Tracker
Rent Inflation in Key West, FL
The average asking rent in Key West, FL is $3,601/month as of 2026-08. That is +2.4% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$3,601/mo
as of 2026-08
Year-over-Year Change
+2.4%
24-Month Rent Trend
Monthly ZORI index values for Key West, FL.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $3,601 | +0.19% |
| 2026-07 | $3,594 | +1.41% |
| 2026-06 | $3,544 | -0.23% |
| 2026-05 | $3,552 | +1.46% |
| 2026-04 | $3,501 | +0.32% |
| 2026-03 | $3,490 | +0.40% |
| 2026-02 | $3,476 | -0.86% |
| 2026-01 | $3,506 | -0.65% |
| 2025-12 | $3,529 | -1.15% |
| 2025-11 | $3,570 | -1.03% |
| 2025-10 | $3,607 | +0.36% |
| 2025-09 | $3,594 | +2.19% |
| 2025-08 | $3,517 | +0.60% |
| 2025-07 | $3,496 | +1.07% |
| 2025-06 | $3,459 | +1.02% |
| 2025-05 | $3,424 | -0.93% |
| 2025-04 | $3,456 | -1.20% |
| 2025-03 | $3,498 | -1.52% |
| 2025-02 | $3,552 | -0.75% |
| 2025-01 | $3,579 | -0.33% |
| 2024-12 | $3,591 | +0.00% |
| 2024-11 | $3,591 | +0.79% |
| 2024-10 | $3,563 | +0.91% |
| 2024-09 | $3,531 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices