Key Colony Beach, Florida Short-Term Rental Market
Key Colony Beach STRs averaged $529/night at 59.3% occupancy in April 2026, with a 7-day minimum stay requirement under city code.
Quick Answer: Key Colony Beach, Florida is an active short-term rental market. average occupancy is 64%. average monthly revenue is $8,168. average daily rate is $485. the top operator is Vacasa with 321 listings. market score is 56/100 (grade C).
Market data reflects the Key West regional market, which includes Key Colony Beach. Regulations, taxes, and permit details below are specific to Key Colony Beach.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Key Colony Beach is a small resort city of approximately 790 residents in the middle Florida Keys, known locally as the ‘Gem of the Florida Keys.’ The STR market operates under a 7-day minimum rental term, meaning nightly bookings are not permitted. Within that constraint, the market posts among the highest average daily rates in the Keys: $529 per night in April 2026, with a RevPAR of $314 and average monthly revenue of $8,640.
The listing mix is almost exclusively entire-place rentals. Of the approximately 9,000 tracked units across the market area, entire-place listings account for roughly 8,844 (98.3%), with private rooms making up the remaining 152 (1.7%). By bedroom count, two-bedroom units are most common at 3,504, followed by three-bedroom (2,321), one-bedroom (1,563), four-bedroom (1,056), and five-bedroom or larger (538).
VRBO and dual-listed properties dominate the channel mix: dual-listed at 5,277, VRBO at 2,211, and Airbnb-only at 1,508. This VRBO skew is consistent with the 7-day minimum, as VRBO’s platform is better matched to weekly vacation bookings.
Year-over-year in April 2026, occupancy declined 2.61 percentage points, ADR grew 3.51%, and revenue increased 3.02%. The revenue growth score of 87.1 out of 100 is among the strongest available data points for this market, suggesting a positive medium-term revenue trend even as occupancy softened slightly.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 65% | $391 | $6,388 |
| Feb | 80% | $417 | $7,543 |
| Mar | 78% | $444 | $8,832 |
| Apr | 59% | $421 | $6,803 |
| May | 59% | $391 | $6,080 |
| Jun | 68% | $401 | $6,695 |
| Jul | 68% | $383 | $6,719 |
| Aug | 50% | $357 | $5,021 |
| Sep | 40% | $340 | $3,924 |
| Oct | 52% | $364 | $4,669 |
| Nov | 58% | $390 | $5,347 |
| Dec | 61% | $434 | $6,427 |
Top Short-Term Rental Operators in Key Colony Beach
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Vacasa | 321 | 15,979 | ★ 4.54 |
| 2 | Vacation Rentals of the Florida Keys LLC. | 232 | 4,454 | ★ 4.68 |
| 3 | Brightwild | 201 | 14,771 | ★ 4.64 |
| 4 | Last Key | 156 | 8,212 | ★ 4.89 |
| 5 | Wendy Zintsmaster and Team | 133 | 5,728 | ★ 4.81 |
What Kind of STR Should I Buy in Key Colony Beach?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 1,563 |
| 2 bed | 3,504 |
| 3 bed | 2,321 |
| 4 bed | 1,056 |
| 5 bed | 538 |
ADR by Property Tier
| Entire Home | $488 |
| Luxury | $952 |
| Professionally Managed | $576 |
Revenue by Dwelling Type
| Apartment | $6,387 |
| Entire Place | $8,235 |
| House | $9,605 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 16.8% |
| vrbo | 24.6% |
| both | 58.7% |
Investment Analysis
At $8,640 in average monthly revenue and a typical home value of $876,933, the implied gross yield for a Key Colony Beach STR is approximately 11.8% annualized ($8,640 times 12 equals $103,680 divided by $876,933). That is a notably strong return relative to most coastal STR markets, before operating costs, management fees, property taxes, and lodging taxes.
Tier differentials are substantial. The all-listings ADR of $529 compares to an entire-home ADR of $532 (similar at this market’s composition), a professionally managed tier of $666, and a luxury tier of $1,058. The luxury premium is more than double the all-listings average, indicating that premium properties here command a very wide spread.
Revenue by property type also shows differentiation: houses averaged $9,409 per month, entire-place listings $8,688, and apartments $8,163.
The 7-day minimum stay rule shapes the investment model. Revenue is booked in weekly blocks, reducing turnover frequency and housekeeping costs relative to nightly markets. The median list price of $1,220,833 is significantly above the typical home value of $876,933, and available for-sale inventory is thin at just 69 units. Demand from buyers attracted to the rental income potential keeps prices elevated. Investors should factor the Monroe County 12.5% lodging tax and the annual city license requirements into net return projections.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Key Colony Beach has the longest average booking lead time of any market in this analysis: 83 days, or nearly 3 months. This reflects the 7-day minimum stay requirement and the planning behavior of travelers booking weekly vacation packages. Guests are committing early, particularly for peak winter and spring weeks.
Average length of stay is 4.82 nights across all tracked data, though compliant Key Colony Beach listings should be booking 7-night minimums per city code. The gap between the tracked average and the 7-day minimum likely reflects data aggregation with surrounding market areas.
For operators, the 83-day lead time means peak-season rates for February and March need to be set by late November. Last-minute discounting is unlikely to fill premium weeks effectively; the planning-ahead guest has already booked elsewhere. Revenue management should focus on securing occupancy for the September-October trough through moderate early-booking rates, while holding firm on winter pricing through the long lead window.
Short-Term Rental Regulations
Key Colony Beach permits vacation rentals citywide under Code of Ordinances Chapter 9. The minimum rental term is 7 days, with no nightly stays permitted. Maximum occupancy is 10 persons per unit (2 per bedroom plus 2 per living room, capped at 1 person per 200 square feet of interior area).
Operators must hold three licenses: a Key Colony Beach vacation rental license (city Business Tax Receipt), a Monroe County business tax receipt, and a Florida DBPR public lodging license. Each property must pass a safety inspection covering smoke detectors, emergency lighting, fire extinguishers, floor diagram, and secondary bedroom egress. The city Business Tax Receipt is approximately $425 for initial licensing and approximately $350 for annual renewal, though the city has been considering a shift to occupancy-based fees. There is no owner-occupancy or primary-residence requirement.
Owners and property managers must be available 24 hours a day, 7 days a week, reachable on-site within 60 minutes, and must inspect the property at least weekly. Managers handling their own property must complete the city’s Property Management class with renewal every 2 years.
The combined lodging tax is 12.5%: 7.5% Florida state sales and use tax plus a 5% Monroe County Tourist Development Tax, filed monthly. Enforcement is described as strict, with citations and fines for violations.
Market Comparison
Key Colony Beach’s April 2026 ADR of $529 is more than double the national STR median of approximately $220, placing it among the highest-ADR markets tracked. Occupancy at 59.3% is slightly above the national median of approximately 55%, though the 7-day minimum stay limits direct comparison.
The market’s overall investment score is 56.4 out of 100, with the standout metric being revenue growth at 87.1, which ranks very high nationally. Seasonality at 61.0 and investability at 68.6 are solid mid-range scores. Rental demand at 59.8 and regulation at 56.9 reflect the market’s constraints.
The professional management sector is well-developed. Vacasa leads with 321 listings and a 4.54 guest rating across 15,979 reviews. Vacation Rentals of the Florida Keys LLC holds 232 listings with a 4.68 rating (4,454 reviews). Brightwild manages 201 listings with a 4.64 rating (14,771 reviews). Last Key manages 156 listings and holds the highest rating in the top five at 4.89 across 8,212 reviews. Together the top five managers account for over 1,000 listings, a meaningful share of the approximately 9,000-unit market area.
Frequently Asked Questions About Key Colony Beach, Florida
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