Airbnb Market Analytics, Statistics and Data in Key West, Florida, United States
Last updated: 2025-01-31
Looking to make more money with hosting or rental arbitraging Airbnbs, short-term rentals, vacation rentals in Key West? AirROI have just the data insights! Over the last twelve months from February 2024 to January 2025, we've uncovered key trends and opportunities that successful hosts are leveraging in Key West:
How much do Airbnb hosts make on average per month in Key West?
The short-term rental market in Key West shows distinct revenue patterns across different property tiers. Our analysis reveals that successful properties combine strategic pricing with quality management to maximize earnings potential. Market data demonstrates clear revenue differentiation among properties:
- Typical properties (median) earn $7,119 per month
- Strong performing properties (top 25%) make $11,894 or more
- Best-in-class properties (top 10%) achieve $19,141+ monthly
- Entry-level properties (bottom 25%) typically earn around $3,435
Revenue Variations by Month
Occupancy Rates Throughout the Year in Key West
The market in Key West shows distinct occupancy patterns influenced by seasonal trends and local dynamics. Properties that maintain high guest satisfaction scores and implement strategic pricing consistently achieve stronger occupancy rates. Current market data shows:
- Typical properties (median) maintain 50% occupancy rates
- Strong performing properties (top 25%) achieve 74% or higher
- Best-in-class properties (top 10%) reach 87%+occupancy
- Entry-level properties (bottom 25%) average around 24%
Occupancy Variations by Month
Average Daily Rates Seasonal Trends in Key West
Daily rates in Key West vary based on seasonality, property quality, and market dynamics. Properties that effectively balance competitive pricing with strong amenities typically command higher rates. Market analysis shows the following rate structure:
- Typical properties (median) generate $412 per night
- Strong performing properties (top 25%) secure $610 or more
- Best-in-class properties (top 10%) pull in $1,062+ per night
- Entry-level properties (bottom 25%) earn around $279
Daily Rate Variations by Month
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Seasonality patterns in Key West
Peak Season (March, February, April)
- Revenue peaks at $13630.96 per month
- Occupancy rates reach 60.24%
- Daily rates average $647.96
Shoulder Season
- Revenue averages $9296.95 per month
- Occupancy maintains 49.19%
- Daily rates hold at $545.34
Low Season (July, August, September)
- Revenue drops to $5950.63 per month
- Occupancy decreases to 40.54%
- Daily rates adjust to $478.09
Is it still profitable to do Airbnb in Key West in 2025?
Yes! Key West demonstrates highly seasonal trends requiring strategic adaptation, featuring a healthy occupancy rate of 49% and strong monthly revenue averaging $9297 and As a mature market with 1100 active listings, there's strong demand despite the competition. There's also room for profit through rental arbitrage strategies, if you can identify competitively priced properties. To maximize your return on investment, consider employing the following strategies:
Peak Season Strategy
- Implement premium seasonal pricing strategies
- Set longer minimum stay requirements during high-demand periods
- Enforce stricter cancellation policies
Shoulder Season Strategy
- Maintain competitive market-based pricing
- Offer moderate-length stay incentives
- Target a mix of leisure and business travelers with flexible booking terms
- Focus on weekend getaway packages and mid-week business traveler promotions
Low Season Strategy
- Adjust pricing to remain competitive in the market
- Target different guest segments (families on vacation, festival goers, adventure tourists, international visitors)
- Create targeted promotional campaigns to drive occupancy
Top Places to Start Airbnb in Key West
| Area | Why Choose This Area | Key Attractions |
|---|---|---|
| Old Town | Historic district known for its charming architecture, vibrant nightlife, and proximity to key attractions. A popular area for tourists looking to experience the local culture and entertainment. | Duval Street, Ernest Hemingway Home and Museum, Mallory Square, Key West Butterfly and Nature Conservatory, Southernmost Point Buoy |
| New Town | A residential area with amenities and access to the beach. It attracts families and those looking for a more relaxed atmosphere, offering a range of shopping and dining options. | Key West Golf Club, Smathers Beach, The Bookstore, Key West Tropical Forest and Botanical Garden, Local Shopping Centers |
| Key West Harbor | Waterfront area known for its marinas and water activities. Ideal for tourists who enjoy boating, fishing, and waterfront dining options. | Historic Seaport, Fury Water Adventures, Key West Aquarium, Sunset Celebrations at Mallory Square, Waterfront Park |
| Hurricane Hole | A quieter area with beautiful waterfront views and a more relaxed vibe. It appeals to visitors looking for tranquility but still wanting to be close to city action. | Hurricane Hole Marina, Restaurants with waterways views, Fishing and boating activities, Snorkeling spots, Nature trails |
| The Meadows | A peaceful neighborhood ideal for families and couples who seek a slower pace while still being close to the attractions of Old Town. Offers residential charm and parks. | The Key West Cemetery, Higgs Beach, Fort Zachary Taylor Historic State Park, Local parks, Community events |
| Bahama Village | A culturally rich neighborhood reflecting the heritage of the Bahamian population in Key West, known for its vibrant music scene and local markets. | Bahama Village Market, Fort Street Presbyterian Church, Local art galleries, Dining options featuring Caribbean cuisine, Live music venues |
| Fort Zachary Taylor Historic State Park | Popular for nature lovers and beachgoers, this area offers access to a historic fort and beautiful beaches, making it a great spot for relaxation and exploration. | Fort Zachary Taylor, Beaches, Nature trails, Picnic areas, Historical reenactments |
| Key West Sunset Pier | A scenic spot famous for breathtaking sunsets, attracting tourists seeking evening dining experiences and waterfront entertainment. | Sunset Pier, Live music spots, Restaurants with ocean views, Fishing excursions, Key West paddleboarding |
Do you need a license for Airbnb in Key West?
We recommend checking directly with Key West's local government regarding short-term rental licensing requirements. Current market data shows limited licensing information (0% of listings), making it essential to verify current regulations before starting your Airbnb business.
Top Performing Airbnb Properties in Key West
Takeover at the Grand Maloney
Entire Place • 6 bedrooms
Balcony, & Pool, Near Duval - Bananas Foster
Entire Place • 7 bedrooms
Four Suites on Duval Street w free parking and hea
Entire Place • 4 bedrooms
Parking, Pet Friendly, Pool - Windrose House
Entire Place • 6 bedrooms
Grand Maison ~ Large home on Duval St with Pool
Entire Place • 4 bedrooms
New Pricing: HUGE 5/5 w/ BIG pool, Beach & Parking
Entire Place • 5 bedrooms
Top Performing Professional Hosts in Key West
| Host Name | Properties | Grossing Revenue | Stay Reviews | Avg Rating |
|---|---|---|---|---|
| Brightwild | 109 | $14,274,578 | 7414 | 4.37/5.0 |
| Rent Key West / Key West Hidea | 67 | $6,768,202 | 1905 | 3.91/5.0 |
| Last Key | 61 | $5,962,166 | 1175 | 4.27/5.0 |
| Javier | 23 | $4,410,910 | 210 | 4.77/5.0 |
| Historic Key West Vacation Ren | 33 | $4,220,227 | 443 | 4.17/5.0 |
| Key West Hideaways | 25 | $2,977,012 | 1793 | 4.17/5.0 |
| AvantStay | 38 | $2,951,176 | 629 | 3.87/5.0 |
| Jennifer | 10 | $2,846,202 | 1545 | 4.88/5.0 |
| Julia | 25 | $2,641,745 | 1453 | 4.17/5.0 |
| Magen | 11 | $2,397,565 | 612 | 4.93/5.0 |
Additional analytics on vacation rental, real estate, short term rental data in Key West
AirROI also have other key metrics and comprehensive data for your vacation rental, real estate needs. Go explore the advanced metrics that can help you make informed decisions:
Room Type Distribution
Property Type Distribution
Key Insights
- Market dominated by entire home listings (84.8%), with apartment & condo and house properties comprising 84.4% of inventory
- Strong specialty sector (15.4%) combining boutique hotels, unique stays, and outdoor accommodations indicates market maturity and premium opportunities
- Untapped potential in outdoor & mobile, others, unique stays segments (2.3% combined)
Room Capacity Distribution
Analysis of 1,100 properties in Key West shows that 2 bedrooms properties are most prevalent, making up 39.8% of the market. The market tends to favor smaller properties, with 2 bedrooms and 1 bedroom together representing 70.4% of all listings.
Key Insights
- Most common: 2 bedrooms (39.8%)
- Least common: 5+ bedrooms (3.5%)
- Market concentration: 70.4% in top 2 sizes
- Market skew: Favors smaller properties
Guest Capacity Distribution
Analysis of 1,100 properties in Key West reveals that 6 guests properties dominate the market, representing 31.8% of all listings. The average property accommodates 4.9 guests, with a clear trend towards larger guest capacities. Properties accommodating 6 guests and 4 guests make up 55.9% of the market.
Key Insights
- Most common capacity: 6 guests (31.8% of market)
- Least common capacity: 1 guest (0.3% of market)
- Average guest capacity: 4.9 guests per property
- Market concentration: 55.9% in top 2 capacity sizes
- Market segmentation: Predominantly larger guest capacities
Booking and Availability Patterns
Available Days Distribution
Booked Days Distribution
Among 1,100 properties in Key West, the most common availability pattern is 271-366 days (43.2% of properties). For actual bookings, properties most frequently secure bookings for 31-90 days (25.2% of properties).
Key Insights
- Most common availability window: 271-366 days (43.2%)
- Most common booking duration: 31-90 days (25.2%)
- Properties with high availability (180+ days): 66.7%
- Properties with long-term bookings (180+ days): 34.5%
Minimum Stay Distributions
1 Night
309 listings
30.9% of total
2 Nights
100 listings
10% of total
3 Nights
116 listings
11.6% of total
4-6 Nights
129 listings
12.9% of total
7-29 Nights
236 listings
23.6% of total
30+ Nights
111 listings
11.1% of total
Key Insights
- Short stays (1-2 nights) dominate the market at 40.9%
- Mid-length stays (4-6 nights) represent 12.9% of listings
- Monthly+ stays (11.1%) suggest a stable extended-stay market
- High market flexibility with 52.5% accepting 3 nights or less
Recommendations
- Set minimum stays between 2-3 nights to align with market standards
- Adjust minimum stays seasonally based on demand patterns
- Consider monthly stay discounts to capture the growing extended-stay market
- Implement different minimum stays for weekends vs. weekdays
Cancellation Policy Distribution
Super Strict 30 Days
131 listings
14.9% of total
Super Strict 60 Days
142 listings
16.2% of total
Flexible
19 listings
2.2% of total
Moderate
213 listings
24.3% of total
Firm
130 listings
14.8% of total
Strict
243 listings
27.7% of total
Key Insights
- Strict is the preferred policy at 27.7% of listings
- The market shows a balanced distribution between guest-friendly (26.5%) and strict (42.5%) policies
- Strong market consensus around Strict policies
- Flexible policies are least common at 2.2% of listings
Recommendations
- Market supports various policies - choose based on your property type and target guests
- Strong market preference for Strict policies suggests this should be your baseline
Booking Lead Time Trends
Key Insights
- Peak booking lead times occur in Jan, Nov, Oct, averaging 99 days
- Shortest booking windows are in Sep, Jul, Aug, averaging 59 days
- Winter shows the longest average booking window at 93 days, while Summer has the shortest at 62 days
Recommendations
- Implement dynamic pricing strategies for Winter bookings at least 93 days in advance
- Consider early bird discounts during Summer to encourage longer lead times
- Focus on last-minute booking promotions during Sep-Aug when lead times are shortest
Popular Airbnb Amenities in Key West
Below is the distribution of amenities across listings in Key West:
Traveler Demographics
Key Insights
- Domestic travelers make up 92.6% of total guests, indicating a dominant local market share.
- Primary international markets: Canada (1.5%) and United Kingdom (1.1%)
- English is the top language at 76.3%, followed by Spanish (14.6%)
- Notable demographic segment in <=1950s (Pre-1950s (Silent Gen)) at 5.5%
Recommendations
- Target marketing campaigns for Miami and New York markets
- Develop localized content for Canada and United Kingdom
- Prioritize English and Spanish language support
- Tailor experiences for Pre-1950s (Silent Gen) while maintaining broad age appeal
- Implement seasonal promotions aligned with key market travel patterns
Nearby Markets
Explore short-term rental performance in markets surrounding Key West. These nearby markets offer diverse opportunities for property investors and hosts:
| Market | Properties | Monthly Revenue | Daily Rate | Occupancy |
|---|---|---|---|---|
| Bal Harbour Village | 33 | $11,004 | $798.77 | 45% |
| Stock Island | 99 | $7,584 | $572.82 | 43% |
| North Bay Village | 110 | $6,084 | $513.61 | 49% |
| Pinecrest | 12 | $5,686 | $576.32 | 45% |
| Duck Key | 67 | $5,190 | $450.78 | 43% |
| Key Biscayne | 118 | $4,902 | $419.58 | 49% |
| Cutler Bay | 71 | $4,608 | $273.75 | 52% |
| Marathon | 931 | $4,436 | $456.49 | 41% |
| Aventura | 286 | $4,303 | $333.81 | 48% |
| Miami Shores | 84 | $4,194 | $342.85 | 50% |
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