Key Largo, Florida Short-Term Rental Market
Key Largo requires a permit, and Florida Keys rentals averaged $426 ADR, 39.5% occupancy, $4,942 monthly revenue in September 2026.
Quick Answer: Key Largo, Florida is an active short-term rental market. average occupancy in the Key West market area is 40%. average monthly revenue in the Key West market area is $4,942. average daily rate in the Key West market area is $426. the top operator in the Key West market area is Vacasa with 321 listings. market score is 56/100 (grade C).
Market data reflects the Key West regional market, which includes Key Largo. Regulations, taxes, and permit details below are specific to Key Largo.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
This profile covers Key Largo, the northernmost island of the Florida Keys, in unincorporated Monroe County, with a population of 13,026. Performance figures below describe the Florida Keys STR market, the region that includes Key Largo. In September 2026 the Florida Keys STR market averaged an ADR of $426, occupancy of 39.5% and monthly revenue of $4,942 per listing. Compared with September 2025, occupancy rose 7.0%, ADR rose 6.7% and revenue rose 10.1%. September is the seasonal low point, so these figures sit below the full year picture. Across the first nine months of 2026 the region averaged 62.5% occupancy, a $493 ADR and $8,193 in monthly revenue, ahead of the 2025 full year figures of 60.9%, $468 and $7,506. Summing the seasonal monthly averages gives annualized revenue of $74,824 per listing. Bedroom, channel and listing-type counts and top operator names are tracked at a shared regional level rather than uniquely for Key Largo, so this profile omits them. Demand rests on nature tourism. John Pennekamp Coral Reef State Park, the first undersea park in the U.S., and the adjoining Florida Keys National Marine Sanctuary draw divers, snorkelers, anglers and eco-tourists. No Key Largo specific visitor count is published. Regionally, the Florida Keys drew roughly 4.45 million overnight trips in 2023, down about 5.6% from 4.79 million in 2022, and visitors spend about $3.5 billion a year. Supply is constrained by Monroe County permit rules that limit where nightly rentals are legal, covered in the regulatory section. Investors should treat the data as a regional benchmark and confirm a specific property’s permit eligibility before underwriting.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 65% |
| Feb | 80% |
| Mar | 78% |
| Apr | 59% |
| May | 59% |
| Jun | 68% |
| Jul | 68% |
| Aug | 50% |
| Sep | 40% |
| Oct | 52% |
| Nov | 58% |
| Dec | 61% |
Month-by-month nightly rates and revenue figures for Key Largo are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Key West market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Key West market as a whole, which includes Key Largo, so these counts are not Key Largo-only figures.
| # | 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 Largo?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Key Largo are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 16.8% |
| vrbo | 24.6% |
| both | 58.7% |
Home Value Trends (Key Largo)
Typical home values, median sale prices, and the 10-year price trend for Key Largo are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Key Largo — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Key Largo is unincorporated, so Monroe County rules apply. Short-term rentals are permitted, but only with a Special Vacation Rental Permit under Monroe County Land Development Code Sec. 134-1, plus a Manager License. Permits are available only in specific land use districts: SR (Suburban Residential), MU (Mixed Use), UR (Urban Residential), IS-V (Improved Subdivision-Vacation Rental) and OS (Offshore Islands). They are prohibited in IS, URM and IS-M districts. Without a permit, the minimum rental term is 28 consecutive days to the same tenant. The initial permit application fee is about $490 with a $100 annual renewal, a Manager License costs about $110, and a Fire & Life Safety inspection runs from $125 for a one-bedroom to $400 for four or more bedrooms. Permits are nontransferable and expire one year after issuance, so a new owner must reapply after a sale. Operators collect Monroe County’s 5% Tourist Development (bed) Tax in addition to Florida’s 7.5% state sales and use tax, for a combined rate of about 12.5%. No owner-occupancy or primary-residence requirement applies. Enforcement is rated strict. The county runs a Transient Rental Fraud Hotline and a Code Compliance program, and fines for operating without a permit are reported to start around $500 and escalate for repeat violations. Monroe County has recently tightened enforcement, requiring annual permits and inspections for rentals in unincorporated areas. Confirm current rules with the county before buying.
Market Comparison
The Florida Keys STR market is a high-rate, seasonal market that fills at a lower rate in its weakest month. The September 2026 ADR was $426 and September occupancy was 39.5%, the seasonal low. The first nine months of 2026 tell a stronger story, with 62.5% occupancy and a $493 ADR. The pattern is a high-rate, seasonal market in which winter and spring occupancy of 77.6% to 80.2% in March and February offsets a thin late summer. Year over year, occupancy is up 7.0%, ADR is up 6.7% and revenue is up 10.1%, so the region is gaining ground rather than flattening. Top operator names are tracked at a shared regional level rather than uniquely for Key Largo, so this profile omits them. The main difference from most markets is the permit gate. Supply is limited by district-based eligibility, which supports rates for properties that qualify but restricts where an investor can legally operate.
Frequently Asked Questions About Key Largo, Florida
Do I need a permit to run a short-term rental in Key Largo?
What is the average daily rate in the Florida Keys STR market?
What is the occupancy rate for Key Largo area rentals?
How much revenue can a Key Largo area rental earn?
What is the best time of year for Key Largo short-term rentals?
How much does a home in Key Largo cost?
What taxes apply to Key Largo vacation rentals?
Analyze Key Largo Rentals
Use our free calculator to estimate Airbnb revenue for any property in Key Largo.
Free Key Largo STR Calculator →
