Welcomes You To His
Lower Keys Real Estate Guild
Senior Real Estate Specialist
Residential and Commercial Real Estate
Sales, Rentals, and Full Service Property
in Key West and Florida
Keys since 1998
Lower Keys Investment Opportunity 2023
Investing in Lower Keys residential real estate can be a smart financial decision due to the numerous benefits and advantages it offers. Because real estate has such a long, demonstrable track record, a good percentage of investors have these types of assets in their portfolios.
Lower Keys, located at the southernmost tip of the Florida Keys, is known for its laid-back, tropical atmosphere and is a popular destination for tourists and second-home buyers. But, it also presents some very big opportunities. So, read on to learn some of the best reasons why now may be a good time to invest in Lower Keys residential real estate.
- Strong rental demand: With its warm climate and abundance of tourist attractions, Lower Keys is a popular vacation destination year-round. This means there is a high demand for vacation rentals in the area, which can provide a steady stream of income for property owners.
- Growing population: Lower Keys has seen a steady increase in population in recent years, which suggests that there is a strong demand for housing in the area. This trend is likely to continue, providing a strong foundation for real estate investment.
- Appreciation potential: The demand for housing in Lower Keys is likely to continue to increase, which could lead to an appreciation in property values. This means that investing in Lower Keys real estate now could potentially yield a good return on investment in the future.
- Low crime rate: Lower Keys has a lower crime rate compared to the national average, making it a safer place to live and invest in real estate.
- Strong economy: Lower Keys has a diverse economy with a mix of tourism, military, and marine industries, which provides a stable foundation for real estate investment.
- Attractive weather. Because its location and climate are subtropical, the weather here is very attractive to many people wanting to escape cold winter, huge amounts of snow, and icy conditions. Because none of that is a problem in Florida, a good percentage of people choose to move into the state to enjoy such a nice lifestyle. It's not only being able to get away from freezing conditions, but it also gives people the opportunity to enjoy many forms of recreational activities pretty much any day of the year and that is seen as a huge ancillary benefit.
In summary, investing in Lower Keys residential real estate can provide strong rental demand, the potential for appreciation, a low crime rate, and a stable economy. These factors, combined with the laid-back, tropical atmosphere of Lower Keys, make it a desirable location for both vacationers and residents, making it a good opportunity for real estate investment.
What's New February 2023
Key West Florida Cost Of Living 2023
Key West is a small island located in the southernmost point of Florida, known for its tropical climate, beautiful beaches, and laid-back lifestyle. However, with its popularity comes a higher cost of living compared to both the state of Florida and the national averages.
According to a cost of living index, Key West scores 110 for food. So, about 10% more expensive than the state and national averages for food. This is largely due to the island's remote location, which makes it difficult and expensive to transport groceries and other food items. Additionally, many restaurants and cafes in Key West are geared toward tourists, which also drives up the cost of food.
Utilities in Key West also score a 110 on the index, making cooling and heating around 10% more expensive than the state and national averages. This is likely due to the island's reliance on costly generators for electricity and desalinization plants for water.
Transportation in Key West scores a 105 on the index, placing this category at 5% higher than the state and national averages. This is largely due to the lack of public transportation options on the island, and the need to rely on cars or scooters for transportation. The high cost of gas and parking also contributes to the higher transportation costs.