Monroe County · Florida Keys
Moving to Key Largo, Florida
Key Largo is the first and largest of the Florida Keys — the "Diving Capital of the World," closest to the mainland (about an hour from Miami), and known for world-class diving and snorkeling on the only living coral reef in the continental U.S. As with all the Keys, the defining realities are extreme: nearly everything is in a FEMA flood zone, and Monroe County carries Florida's highest insurance costs by a wide margin. For buyers who want island life with the best mainland access in the Keys and can absorb the cost, Key Largo is the gateway.
Key Largo at a glance
Median sale price $1,260,000 · May 2026 · 72 days on marketsource: Redfin Data Center
Who it's for
Key Largo draws **second-home buyers and retirees**, **divers, boaters, and anglers**, **buyers wanting Keys life with mainland proximity** (Miami is about an hour away), and **investors** (subject to short-term-rental rules). It's a lifestyle and often second-home market — like all the Keys, not a value or conventional family-relocation choice.
It's less of a fit for budget buyers, those needing a large local job market, or anyone unwilling to absorb the Keys' insurance and flood costs.
The housing market
Key Largo combines canal and oceanfront homes (boating and dive access are central), non-waterfront options, and a market shaped by extreme supply constraints (small island, strict growth limits). Waterfront commands strong premiums. Construction year, elevation, and build standard are critical — newer elevated homes insure better and weather storms better. The market is best approached as a long-term hold; inventory is thin and prices move month to month.
Flood & insurance
This is the heart of any Keys purchase. Key Largo's flood exposure is extreme (nearly all parcels in FEMA flood zones), and Monroe County's insurance is Florida's most expensive by a wide margin — a $300K dwelling can run on the order of $15,000/year, and high-value homes far more, before flood premiums. Pull the FEMA flood zone, obtain an elevation certificate, and get real flood and wind quotes BEFORE committing — insurance affordability is the single biggest factor in whether a Keys purchase works for you.
Cost of living
Florida's no-income-tax advantage applies, but the Keys are emphatically not a cost-savings relocation — insurance alone can run many times what mainland Florida or northern states pay, and the overall cost of island living is high. People buy in Key Largo for lifestyle, diving, and water access, not arithmetic. Plan for substantial carrying costs and buy for what the island uniquely offers.
Lifestyle
Key Largo is world-class diving and snorkeling (John Pennekamp Coral Reef State Park, the continental U.S.'s only living coral reef), boating and fishing, a laid-back island pace, and the best mainland access in the Keys. It's water-and-nature-centric island living with Miami about an hour away — the appeal for buyers who want the Keys without being at the far end of the island chain.
Getting here
Miami International (MIA) is about an hour to 75 minutes north via US-1 (the only road in/out); Key West International (EYW) is at the far end of the chain.
Frequently asked questions
Is Key Largo a good place to live?
For second-home buyers, retirees, divers, and boaters who want Keys island life with the best mainland access and can absorb the extreme insurance and flood costs, yes. It's a lifestyle market.
How expensive is insurance in Key Largo?
Among the highest in the country — Monroe County is Florida's most expensive insurance market by a wide margin, several times the state average. Get real quotes first; it's the dominant cost factor.
How bad is flood risk in Key Largo?
Extreme — essentially all parcels are in FEMA flood zones. Flood insurance is effectively required; elevation and build standard are central. Verify per parcel.
What are property taxes in Key Largo?
Monroe County millage (set annually); much of Key Largo is unincorporated. Homesteaded primary residents get the exemption and Save Our Homes cap; many second homes don't.
How far is Key Largo from Miami?
About an hour to 75 minutes via US-1 — the closest of the Keys to the mainland, a key part of its appeal.
Is Key Largo a good investment?
The Keys' permanent supply constraints support long-term value, but high carrying costs and short-term-rental rules matter — approach as a long-term hold and verify current rental rules.
When is hurricane season?
June through November — a central planning consideration in the Keys. Internal links: ↑ Monroe County · ↑ Florida Keys region · → Islamorada · → Marathon · → Key West Lead CTA: "Weighing Key Largo against Islamorada, Marathon, or Key West? Ask the relocation concierge →" + lead form. ---
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