Key West 33040

Name: 33040 Key West, FL housing market record
Creator: Lotvox
License: https://lotvox.com/terms

Key West, FL · Monroe County, FL · 17,274 properties with county records

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Key West 33040 is in Monroe County, FL, part of the Miami–Fort Lauderdale Metro. The typical home value in Key West 33040 is $949,386 (Zillow Home Value Index, August 2026), down 0.3% from a year earlier. Homes that sold went under contract in a median 140 days, and 22% of listings took a price cut (Redfin Data Center, period ending Aug 31, 2026). On Lotvox's market-leverage reading of that data, with 7.4 months of supply, neither buyers nor sellers hold a clear edge. The Lotvox Turnover Index is not published for 33040 yet: it appears only where a held-out test on the county's recorded sales beats chance. Across Monroe County's 9 ZIPs with a Zillow value, the middle one is $917,023, so 33040 sits 4% above the county middle. Typical rent is $3,490 a month (Zillow Observed Rent Index, August 2026). Lotvox holds county assessor records for 17,274 properties in 33040.

Headline value data through August 2026. Each source below carries its own date.

Is 33040 a buyer's or seller's market?

By Lotvox's leverage reading of Redfin data through Aug 31, 2026, 33040 is a balanced market. Homes went under contract in a median 140 days with 7.4 months of supply.

What do homes in 33040 sell for?

The typical home value in 33040 is $949,386 (Zillow Home Value Index, August 2026), down 0.3% in a year. County records put the median at about $256 per square foot (computed Apr 21, 2026).

Who is likely to sell in 33040?

Lotvox only publishes its Turnover Index where a held-out test on recorded sales beats chance, and 33040 has not passed that test yet. When it does, the score appears here.

How does 33040 compare to Monroe County?

33040's typical value of $949,386 compares with a middle value of $917,023 across Monroe County's 9 ZIPs. Both are Zillow Home Value Index figures for August 2026.

Where does this 33040 data come from?

Values and rents come from Zillow's research data, sales pace from the Redfin Data Center, and property counts and turnover from county assessor and deed records. Each number on this page carries its own date, and the method is published at lotvox.com/methodology.

Sources: Zillow Home Value Index (ZHVI) (as of Aug 31, 2026) · Redfin Data Center (as of Aug 31, 2026) · Zillow Observed Rent Index (ZORI) (as of Aug 31, 2026) · county assessor records (counted Oct 15, 2026) · How Lotvox works

Cite as: Lotvox ZIP market record, 33040 Key West, FL, data through August 2026, https://lotvox.com/miami/zip/33040

Listings Flow Ladder — Listings flow could not be loaded (429).

Should you buy here?

buyer-timing lens

0affordability /100

Buyer leverage is balanced; weigh payment burden and the 3-lens valuation before bidding.

Payment burden

79.8%

severe

Days on market

140

daily

Price cuts

21.9%

of active

Valuation

-56.2%

vs assessor

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Rent vs own — the renter's question first

$3,490

median rent · per month

$6,208

total cost to own · per month

+$2,718

more to own · per month

Rent to price — the investor's question first

22.7×

price to annual rent

Lower is friendlier to a buy-to-let case. This is a ratio of published medians, not a yield on any particular property.

/100

Weak

cooling · balanced · prices easing year-over-year.

Price trend

Affordability

Valuation

Verdict grades housing conditions; buyer-timing, investor cash-flow, supply-tightness and county macro scores answer different questions — each in its own section.

Buyer / seller

buyer-timing lens

Negotiate Hard

Needs 62.4% correction for affordability

DOM: 105d (stable) · Market Dynamics rolling median · hourly

Score Components

Payment Burden (25%)100

Valuation Gap (25%)10

Supply & Demand (20%)100

Buy vs Rent (15%)75

Cancellation Rate (10%)25

Days on Market (5%)100

Moderate buyer leverage in 33040. Room to negotiate 5-10% below list. Payment burden: 74.2% of median income. A 53% price correction needed to reach 30% affordability threshold. Median days on market: 105. Renting is approximately 92% cheaper than buying (price-to-rent ratio: 23.0).

What to Offer

Offer 5-10% below list. You have room to negotiate.

Conditions resemble 2019 pre-pandemic levels — moderate overvaluation with slowing demand. Negotiation room exists.

COOLINGBALANCED

Market is cooling with expanding inventory. Conditions are balanced between buyers and sellers.

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<p style="font:12px system-ui;margin:4px 0 0"><a href="https://lotvox.com/miami/zip/33040?utm_source=embed&utm_medium=backlink">Key West 33040 housing market data</a> by <a href="https://lotvox.com/">Lotvox</a></p>

Market snapshot

each number, once

Median price

$949,386

▾ 0.3% YoY

Days on market

140

daily · zip_data

Median rent

$3,490

ZORI

Investor score

34/100

cash-flow lens

Active listings

280

90-day

Valuation

3 lenses, different anchors

vs assessor

-56.2%

Market vs assessed value — a tax-roll lag, not a deal signal.

Avg assessor$415,400

county CAMA · properties_v

vs income

—

Fair-value model not available for this market.

fair_value_scores · 10-state coverage

vs county comps

+26.2%

County-wide market — the widest, slowest signal.

Monroe+26.2%

Lotvox comps · mv_valuation_gap

Read together: Above county comps but sustainable on local incomes.

Pricing detail

Price / sqft$256

Price-to-income12.3×

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How 33040 ranks in FL

percentile vs all Florida ZIPs · n=1098

Market velocity9%

Supply tightness0%

Affordability0%

Investment yield14%

Appreciation50%

Affordability, supply & momentum

18SUPPLY

OversuppliedSupply Tightness

Ample inventory — buyers have time and leverage to negotiate.

Months of Supply49.7 mo

Days on Market140d

Inv vs History-19.3%

Listing Density18.8/1k

Affordability — payment burden

Monthly payment (P&I)$5,259

Payment burden79.8%

Median income · ZIP$79,038

Mortgage rate7.4% · 30yr

Total monthly own$6,208

Monthly rent$3,490

Market dynamics

Price cut %21.9%

Momentumcooling

LeverageBALANCED

Months of supply7.4

Sales (90d)114

Investment analysis

Median rent$3,490

Price-to-rent22.7

Est. cap rate2.8%

Buy vs rentfavors renting

Livability

Walk score14

Transit score—

Bike score—

Historical trends

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Housing pulse

4 charts, one facade

Housing pulse — Housing pulse could not be loaded (429).

Price bands

mix-shift

Price Bands — the median behind the median

A single median rises whenever expensive homes become a bigger share of what sells, even if no tier got more expensive. These are the tiers underneath it, computed from recorded arms-length deed transactions in Monroe.

Current tiers · 12 months to Aug 25floor 10 sales/tier

Tier	Median	$/sqft	Sales	Share	Source
Under $250k	$183k	—	10	2.0%	ZIP
$250k–$500k	$400k	$477	68	13.4%	ZIP
$500k–$750k	$600k	$692	80	15.8%	ZIP
$750k–$1M	$850k	$717	95	18.8%	ZIP
$1M–$1.5M	$1.25M	$897	97	19.2%	ZIP
$1.5M–$2M	$1.68M	$1123	66	13.0%	ZIP
$2M+	$2.90M	$1388	90	17.8%	ZIP
All sales (the headline median)	$998k	$866	506	100%	ZIP

No mix-shift history for this area. no geography from this ZIP up to metro has 8+ quarters of 10+ recorded arms-length sales across at least 4 price tiers. Trends are drawn only from recorded transactions; the last-sale snapshot above cannot carry a time series, because a property that sold twice keeps only its latest sale — which drags the history upward through the tiers and would invent the very mix shift this section exists to test for.

National context — not local

NAR's aggregate existing-home median for the United States and the South census region. This is the figure the tiers above are a check on. It is national/regional and says nothing about 33040.

United States
South

Copyright, National Association of Realtors. Reprinted with permission. Retrieved from FRED, Federal Reserve Bank of St. Louis. FRED publishes a rolling 13-month window for these series.

Tiers computed from Lotvox parcel and deed substrate through Aug 25 (10 later months withheld as partially loaded). Sample floor 10 sales per tier; below it a figure is drawn from the county or metro and labelled, or left blank. Multi-parcel bulk deeds and duplicate records are excluded.

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Monroe County context

macro · jobs · debt · migration

ZIP score grades housing; county score adds macro distress (jobs, debt, poverty). They answer different questions.

ZIP 33040→Monroe County, FL

12-Month Direction

-9Stable

Confidence

100%

DeterioratingStableImproving

BuildersLens Market Intelligence

Market Score

31· Distressed

Market Score grades housing-market conditions (affordability, valuation, supply). The county Healthy/Moderate/Distressed badge measures economic distress (jobs, debt, poverty) — the two can read differently.

Payment Burden

79.8%

severe

Source: Freddie Mac PMMS (FRED MORTGAGE30US) 7.4% · Zillow ZHVI · Census income · Updated 2026-10-08

Price-to-rent

22.7x

favors renting

Source: Zillow ZHVI ÷ (Zillow ZORI × 12)

Valuation0

+26.2%

overvalued

Source: Lotvox comps · Updated 2026-05-15