Key Largo, FL Airbnb Market Data, Statistics, and Occupancy Rates

Key Largo Short-Term Rental Market Overview

Key Largo sits at the gateway to the Florida Keys, drawing vacationers and water-sport enthusiasts year-round to one of the most recognizable leisure destinations in the country. With 532 active Airbnb listings, an average occupancy rate of 58% (outperforming the 54% Florida state average), and an average annual revenue of $56,117, the market delivers consistent guest demand — though elevated home values averaging $3,287,362 mean investors need to be strategic about deal selection. The ROI score of 42 out of 100 reflects a competitive opportunity where strong demand meets high entry costs, rewarding those who source properties carefully.

Key Market Statistics

According to Rabbu market data, the Key Largo short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Key Largo

Key Largo attracts investor attention because of its position as a premier Florida Keys destination with above-average occupancy and strong seasonal demand, though high property values demand disciplined deal sourcing.

Expert Market Assessment

"Key Largo represents a competitive but rewarding market for short-term rental investors who can navigate the high cost of entry. Seasonality is the defining characteristic here: revenue swings from a March peak of $8,678 down to a September low of $2,141, creating a roughly 4:1 spread that demands careful cash-flow planning. The market's 58% average occupancy and $222 RevPAN indicate healthy demand relative to Florida peers, but the below-average revenue-to-price ratio — driven by home values north of $3.2 million — means yield compression is a real consideration. Investors targeting 3- or 4-bedroom properties, where annual revenues reach $75K–$95K, stand the best chance of assembling a viable return profile."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Key Largo

Average revenue by month in Key Largo

Key Largo exhibits strong seasonality, with March ($8,678) and February ($7,142) far outpacing the September low of $2,141 — a roughly 4:1 peak-to-trough ratio. Investors should anticipate robust winter-spring earnings that need to carry softer late-summer and early-fall months when revenue drops below $2,500.

Active Airbnb listings by property size in Key Largo

Two-bedroom units dominate Key Largo's supply at 226 listings (42% of the market), followed by 3-bedrooms at 141 and 1-bedrooms at 104. Larger 4- and 5-bedroom homes are notably scarce with just 51 combined listings, suggesting potential opportunity for investors willing to enter a less crowded segment that also commands higher nightly rates.

Average daily rate (ADR) by property size in Key Largo

ADR in Key Largo scales sharply with size, jumping from $214 for studios to $484 for 3-bedrooms and $634 for 5-bedrooms. The steepest rate premium appears between 2-bedroom ($298) and 3-bedroom ($484) properties, making the jump to a 3-bedroom potentially the best balance of added cost versus added nightly income.

Average RevPAN by property size in Key Largo

RevPAN climbs steadily from $150 for studios to $304 for 5-bedroom properties, with 4-bedrooms close behind at $293. This consistent upward scaling indicates that larger homes not only charge more per night but also convert enough of that rate into actual revenue to justify the premium, even with somewhat lower occupancy.

Average occupancy rates by property size in Key Largo

Studios lead occupancy at 70%, well above the market average, while 4- and 5-bedroom properties hover around 48–49%. Two-bedroom units maintain a solid 61% fill rate, making them a relatively safe choice for investors prioritizing consistent bookings over maximum nightly revenue.

Average monthly revenue by property size in Key Largo

Four-bedroom properties top the monthly revenue chart at $7,950, followed by 5-bedrooms at $6,503 and 3-bedrooms at $6,243. By contrast, studios and 1-bedrooms earn $3,025 and $3,288 respectively, illustrating how the combination of higher ADR and adequate occupancy at the 3–4 bedroom level translates to substantially greater monthly income.

Average annual revenue by property size in Key Largo

Annual revenue potential peaks with 4-bedroom properties at $95,406, roughly 2.1 times the $45,214 generated by 2-bedroom units despite there being far fewer 4-bedroom listings. Three-bedroom homes deliver $74,920 annually and represent a strong middle ground for investors seeking high revenue without the limited supply pool of the largest configurations.

Most common amenities for Airbnb listings in Key Largo

Parking (98%) and kitchens (95%) are near-universal expectations in Key Largo, while outdoor-oriented amenities like BBQ grills (78%), pools (70%), and waterfront access (56%) reflect the tropical, leisure-focused nature of guest demand. Listings lacking a pool or outdoor entertaining space may face a competitive disadvantage in a market where 70%+ of properties already offer these features.

Understanding Key Largo's ROI Score: 42/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Key Largo's ROI score of 42 out of 100 places it in the "Competitive Opportunity" band, reflecting a market where demand is genuine but entry costs compress returns. The below-average revenue-to-price ratio is the primary drag, driven by average home values exceeding $3.2 million, while occupancy stability and market growth both register as average — indicating a mature, steady market rather than a rapidly expanding one. Investors should pair this data with thorough local regulatory research and carefully evaluate individual property economics to identify deals that outperform the market-level averages.

Short-Term Rental Regulations in Key Largo

Understanding local STR regulations is essential before investing in Key Largo. Here's the current regulatory landscape:

Permit Requirements

Short-term rental operators in Key Largo and unincorporated Monroe County, Florida, are generally required to obtain a vacation rental license from the state as well as any locally mandated permits or registrations. Investors should verify current requirements directly with Monroe County and the Florida Department of Business and Professional Regulation before listing a property.

Key Restrictions

Common restrictions in Florida Keys communities may include occupancy limits tied to the number of bedrooms, minimum stay requirements, noise ordinances, parking mandates, and caps on the total number of permits issued. HOA or community deed restrictions can also limit or prohibit short-term rentals in certain developments, so reviewing governing documents is essential before purchasing.

Tax Obligations

Florida imposes a state sales tax and a county tourist development tax on short-term rental stays, and Monroe County is known for its tourist-related levies given the Keys' hospitality-driven economy. Platforms like Airbnb often collect and remit some of these taxes automatically, but hosts should confirm compliance with all applicable state and local obligations.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Key Largo can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Key Largo's pronounced winter-spring seasonality — with March revenue peaking near $8,678 — suggests continued strength during high season as snowbird and vacation travel to the Keys remains robust. Summer months like June and July should hold moderate demand supported by family travel, while the September–October soft period may see ADRs dip slightly. Occupancy is expected to remain in the 55–60% range annually, with ADRs potentially edging up 1–3% as supply growth appears measured at 98% year-over-year listing retention. Investors should budget for a meaningful revenue trough from September through November and plan pricing strategies accordingly."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Key Largo, FL

What is the average Airbnb occupancy rate in Key Largo?

The average Airbnb occupancy rate in Key Largo is currently 58%, which is above the Florida state average of 54%. Occupancy varies by property size, with studios leading at 70% and larger 4- and 5-bedroom properties averaging around 48–49%. This above-average occupancy reflects Key Largo's strong and sustained vacation demand as the first major stop in the Florida Keys.

How much do Airbnb hosts make in Key Largo?

On average, Airbnb hosts in Key Largo earn approximately $4,676 per month or $56,117 per year based on historical booking performance. Earnings vary significantly by property size: studios average about $36,304 annually, while 4-bedroom properties lead the market at roughly $95,406 per year. Peak months like February and March can push monthly revenue above $7,000–$8,600, while September is the softest month at around $2,141.

Is Key Largo a good market for Airbnb investment?

Key Largo presents a competitive opportunity for Airbnb investment. Demand is strong — occupancy exceeds the state average and the Florida Keys brand draws vacationers reliably — but average home values of approximately $3,287,362 create a high barrier to entry that compresses yield. Rabbu's ROI score of 42 out of 100 reflects this dynamic: investors who source deals selectively and target higher-earning property types (particularly 3- and 4-bedroom homes) are best positioned to achieve meaningful returns. Thorough due diligence on acquisition cost relative to projected revenue is essential.

What is the average daily rate (ADR) for Airbnb in Key Largo?

The average daily rate for Airbnb listings in Key Largo is $386, which is below the Florida state average of $498. ADR scales meaningfully with property size: studios average $214 per night, 2-bedroom units about $298, 3-bedrooms around $484, and the largest 5-bedroom properties command roughly $634 per night. This pricing spread makes larger, well-appointed properties particularly compelling for maximizing nightly income.

Are short-term rentals legal in Key Largo?

Short-term rentals are generally permitted in Key Largo and Monroe County, Florida, subject to proper licensing and compliance with local regulations. Operators typically need a state vacation rental license from the Florida DBPR and may need additional county-level permits. Restrictions can include occupancy limits, parking requirements, noise ordinances, and potential HOA rules. We strongly recommend verifying current regulations with Monroe County and state authorities before purchasing or listing a property.

When is peak season for Airbnb in Key Largo?

Peak season in Key Largo runs from January through March, with March being the highest-earning month at an average of $8,678 in monthly revenue. February follows closely at $7,142, and January rounds out the top tier at $5,903. This winter-spring surge aligns with snowbird migration and prime diving and fishing conditions in the Keys. The softest months are September ($2,141) and October ($2,446), making off-season pricing strategy important for maintaining cash flow.

How many Airbnbs are there in Key Largo?

As of April 2026, there are 532 active Airbnb listings in Key Largo. The supply is concentrated in 2-bedroom properties (226 listings) and 3-bedroom properties (141 listings), with 1-bedroom units making up 104 of the total. Larger 4- and 5-bedroom properties are relatively scarce at 41 and 10 listings respectively, which may present an opportunity for investors targeting the higher-revenue segment of the market.

How is Airbnb revenue calculated in Key Largo?

The annual and monthly revenue figures for Key Largo are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market — they are not forward-looking projections. Rabbu averages each comparable listing's actual revenue per available night (RevPAN) by month over the past year, removes regional outliers, and rolls the remainder up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month uses its own historical performance data. Individual results can vary based on property quality, pricing strategy, location within Key Largo, and operational management.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts for Key Largo and surrounding areas
• Average daily rates, occupancy rates, and RevPAN metrics across multiple property sizes
• Monthly and annual revenue estimates based on trailing 12-month booking performance
• Supply distribution and amenity prevalence across the local short-term rental market
• Home value benchmarks sourced from Zillow Home Value Index (ZHVI) for investment context

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing 12-month historical averages and may not capture very recent market shifts or regulatory changes. Local regulations, HOA rules, and licensing requirements should be independently verified before purchasing or operating a short-term rental in Key Largo.