Market Intelligence · FL / Key West

Key West, FL 33040 Housing Market

The typical home in Key West, FL 33040 is valued at $956,836, up 0.1% over the past year. Homes currently list for a median of $1,167,000 and spend about 115 days on market.

Updated September 2026Median value$957K

The median home value in Key West, FL 33040 is $957K as of September 2026, up 0.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 33040 range

$880K to $1.03M

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+0.1% over 12 months

Sep 2025$956K

Low $947KHigh $957K

Sep 2026$957K

The numbers

What is the 33040 housing market like?

As of September 2026

Typical home value

$957K

0.1%YoY

Median list price

$1.17M

1.6%MoM

Days on market

115

3.6%MoM

Homes for sale

263

4.7%MoM

Price cuts

14.0%

23.9%MoM

New listings

15.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

33040 housing market forecast 2027

+0.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 33040 to rise 0.6% by September 2027.

Over the 12 months through September 2026, typical home values in 33040 rose 0.1%, per the Zillow Home Value Index.

Will home prices drop in 33040?

Zillow's forecast does not call for a drop: it expects typical home values in 33040 to rise 0.6% by September 2027, after a 0.1% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 33040 home prices compare?

33040$956,836
Key West$956,836
Florida$344,436
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Key West: 1 ZIP; Florida: 923 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, there are 263 homes for sale in 33040, with 34 new listings entering the market recently. The median list price stands at $1,167,000, while the typical home value has risen slightly to $956,836 year over year. Homes are taking 115 days to sell on average. About 14.0% of current listings have seen price reductions. For sellers, this suggests a market that rewards patience and realistic pricing over aggressive initial asks.

Monthly payment

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Home price

Down payment20% · $191,367

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Common questions

What people ask us.

What is the typical home value in Key West, FL 33040?

The typical home value is $956,836, which has increased 0.1% over the past year.

How long do homes typically stay on the market in 33040?

Homes spend a median of 115 days on market before sale.

How many homes are currently for sale in this ZIP?

There are 263 homes for sale as of September 2026, with 34 new listings recently added.

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