What's so great about living in Key West? How much does it cost?

#KeyWest #keywestrealestate #keywestflorida
Have you ever wanted to live in Key West? You can and I can help you. See the homes where the Key West locals live. Learn how much a home in Key West costs. I love living here and you will too.
Gary McAdams, P.A., Realtor and Notary Public
Barbara Anderson Realty
Key West, Florida
305-731-0501
License Number: SL3026388
www.realtorgary.com
www.KeyWestInvesting.com

[@user-vb8se6gg2y]

The guy peeing on the side of the house at 2:35 was my favorite part.

[@garymcadamspa8450]

Sadly, that's normal in KW.

[@jakelightford3740]

Hahahahahahahaha

[@kim-pm8gi]

I used to live in Key West when the Navy was there, I first lived in the old condemned housing then the better housing right on the beach. Used to walk along the beach to school every day. This was before it became such a tourist trap. I went back about 20 years later and it’s no longer the paradise it once was. It’s true that you can never go back…you’ll be highly disappointed

[@garymcadamspa8450]

I've been in Key West for 33 years and I agree, it has changed a lot.

[@MichaelClerk-xd6ft]

totally agree. Disappointment ...

[@jamikatechaos9972]

I really appreciate the candor and thoroughness of this video.

[@garymcadamspa8450]

Thank You. I'm glad you enjoyed it. If you haven't already, please subscribe to my channel.

[@jamikatechaos9972]

@@garymcadamspa8450 👍 It's difficult to feel like you're getting an honest depiction from online real estate agents. Subscribed!

[@cancer9842]

That first yard in the beginning had such beautiful trees.

[@garymcadamspa8450]

We do have some amazing trees in The Florida Keys.

[@edroberts5126]

I can't believe the people working in the gift shops and waitresses make enough money to afford a $800,000 home!

[@garymcadamspa8450]

That has been the case for a long time. The working locals mostly rent because they can't afford a house. This is the case in most resort towns. The resort towns on the mainland, they will just live a few Towns over. In KW they rent and even the rents are getting very high.

[@westcoastadventurers8504]

I can wait until SHTF, places like this will be free because everyone left or died.

[@garymcadamspa8450]

@@westcoastadventurers8504 I can't see that happening in the Florida Keys. People have been saying this for over 20 years but there is only so much island. Supply and demand will keep the market strong as it has for well over 30 years.

[@deanvoss7098]

Watch the video.. he said most workers live a couple keys north

[@Cycology_Major]

Keep don’t believing because it can’t & won’t happen. Even after a tragic hurricane, enough people rebuild & the market values stay high 😑

[@michaelpoczynek]

Thanks, Gary from Atlantic Canada. Have a great day! 😀

[@garymcadamspa8450]

You're welcome. If you want to leave Canada for the cold Winter we have some great homes for sale in the Florida Keys.

[@michaelpoczynek]

@@garymcadamspa8450Thanks, Gary. I wish you all the best, and thanks for the reply. Have a great week!

[@RalphDiMatteo-kv5ze]

Great work my friend. Nice touch with the jon.

[@garymcadamspa8450]

Thank you Ralphie. You always had a way with words.

[@SKing1691]

I spent 9 winters there. Only plus. Nice weather. Too expensive and salaries are low. If you want to drink and fish, it’s the place for you. Otherwise. A filthy polluted swamp.

[@garymcadamspa8450]

Yes, Key West is very expensive but if you compare it to like type places It's really not expensive. It's an island in Southern Florida. Lets look at Marco Island, Captive Island, Anna Maria Island, Fisher Island, Sanibel Island, Star Island then Key West homes are pretty cheap.If you compare it to Kentucky, yes, Key West is very expensive.

[@wesleyferguson6932]

Yes it is home to insane people

[@stevecrane1125]

Great video. Been coming down to Key Largo/Tavernier to scuba dive for the last 25 years. Back when I first started coming down you could get a small house in the $250-300,000 range. Not anymore. Now that amount of money might buy you a boat slip or a tiny spot to park a small camper.The Key's are now the rich mans playground. When small houses are $800-1,000,000+ the crazy insurance rates it won't be long until the work force has to live and commute from Florida City/Homestead to jobs in the Key's. Oh wait, that's already happening. LOL

[@garymcadamspa8450]

Thai is unfortunately the case with any oceanfront community. The house my Parents sold on Seabrook Beach, NH was just sold for $2.6M. My parents sold it for $375,000 about 25 years ago.

[@buckypeterson1018]

A very good video. Too bad Key West and the Keys have passed me by. I settled in coastal SC in the '80s when I could afford to buy and I'll probably never leave, but I do still love to visit the Keys.

[@garymcadamspa8450]

Thanks for the compliment. If you ever want to see what's for sale in the Keys give me a call. You can also see all the new listings on my KZbin Channel or you you can get a lot more details and photos if you follow my blog, www.keywestinvesting.com. If you haven't already, please subscribe to my channel.

[@vincem2759]

I was considering applying for an airport postion in Key West but honestly the rent for one room makes it impossible. I was willing to commute and that's with 1500 a month.

[@garymcadamspa8450]

Unfortunately, affordable rent is a huge problem in KW.

[@chrishensley6745]

I see why people buy a boat and anchor down on the little island across from coast guard port and shuttle together in the morning to work!!! Dam the cost of rent down there....but hay....it is Key West man!

[@garymcadamspa8450]

The rents are very high in Key West. As a Realtor, I hear this just about every single day. But when you compare it to like type areas realizing you are on an island in southern Florida it changes the perspective. Compare rents on Marco Island, Anna Maria Island, Fisher Island, Star Island (If the even have any rentals), Captiva Island and Key West is on the low end of the price of rent. Compare it to Kentucky and Key West is expensive.

[@FrankGambino-hr8lo]

Great video. You do a good job. The kid I met in Boston has come a long way. I'm proud of you.

[@garymcadamspa8450]

Thanks Frankie. I'm glad you like it. Give me a call some day. It would be great to catch up.

[@JoeDavernport]

Great description of the neighborhoods.

[@garymcadamspa8450]

Thank You Joe!!

[@wmason1961]

I turned down a very lucrative job offer in key west once. It would have doubled my income. I researched the area more and found that doubling my income would have dramatically lowered my buying power if it came with a move to key west. The prices of everthing in key west made it impossible for me to accept a great job.

[@garymcadamspa8450]

That is the case usually. Key West is very expensive but when you compare it to like type areas it is pretty cheap. You are on an island in southern Florida. Compare it to Marco Island, Captiva Island, Fisher Island, Star Island and Key West is pretty cheap. Compare in to Kentucky and Key West is very expensive..

[@wmason1961]

@@garymcadamspa8450 my comparison at the time was to Tampa.

[@StarshipTrooper2050]

Dude taking a piss on the side of his garage 2:40

[@garymcadamspa8450]

That's Key West for you...

[@laural5177]

Homeowners insurance in Key West is ridiculous. I have friends whose insurance company dropped them after one of the hurricanes and they were forced to go with Citizens, the state funded agency. It cost them $1000 per month. They paid of their mortgage and now have no homeowners insurance.

[@garymcadamspa8450]

Insurance is going to be high anywhere on the Ocean. More so when you're on a small island In between The Atlantic and The Gulf. That beind said, may I suggest getting quotes from KIN? I switched all 3 of my houses to KIN and my rate was less than half than I was paying Citizens for the exact same coverage with a lower deductible.

[@itsjackbandit]

Dude taking a leak at 2:37 😂

[@garymcadamspa8450]

Just another day in Key West.

[@stephencruz885]

The cost of housing reminds me of Hawaii.

[@garymcadamspa8450]

It is somewhat similar to Hawaii only you can drive to the Florida Keys. We are a small chain of islands, like Hawaii, and there is limited land. like Hawaii. Suply and demand sets the prices, like Hawaii.

[@rjo8500]

Islamorada is pretty nice. Not much to do tho.. The restaurants, bars, boating and fishing is about all.

[@garymcadamspa8450]

I love Islamorada.

[@d.oliveras8012]

Ok so Are these Homes hand me down or inherited? Almost a MILLION cost makes anyone wonder how do someone that works at a Bar or Gift Shop or at a Boutique is able to afford such real-estate , home, property……

[@garymcadamspa8450]

The people who were born in the Florida Keys are called "Conchs". Some of them are Conchs living in houses that have been in their family for several generations. Some are people who bought them years ago. I bought my house in 1991. Some are very wealthy people buying vacation homes. Some are investors buying rental homes. Most of the lobor force rents.

[@MichaelClerk-xd6ft]

Key West was a total disappointment when I visited recently. Just houses and pavement. Few beaches, none good, trash... Sad.

[@garymcadamspa8450]

I'm sorry you didn't like Key West. It's not for everybody. The Keys have never been known for our beaches. If you want beautiful beaches in Florida I would stay on the mainland. Both Florida's east and west coast have beautiful beaches. Also, The Panhandle.

[@johnjaco5544]

Cheaper than San diego.

[@garymcadamspa8450]

Very true. Not to mention, much lower taxes and cost of living than California too.

[@stevesecret2515]

If they have to build 8 or 10 feet above ground level maybe it isn't a good idea. What does insurance cost for a house on Key West?

[@garymcadamspa8450]

The stilt houses are more per FEMA than Key West or Monroe County. Anything built after 1975 in a flood zone has to be 8 feet above sea level. The 8 foot mark above sea level is usually 3 to 4 feet off the ground you stand on. Most people go 8 to 10 feet off the ground so they can park and have storage under the house. Many houses are 12 to 15 feet above the ground so a boat on a trailer or an RV can be parked under the house. As for insurance, it literally varies from house to house and lot to lot. I have seen some homes where the insurance is as low as $3,000 a year for everything and some that are as high as $25,000 a year. If you find a house you are interested in the very first thing I suggest buyers do is get an insurance quote. That way if the insurance is too high you can cancel the contract during your due diligence/inspection period before you put out the money for a home inspection, survey and appraisal.

[@crashdsnowman1]

Now home owners is apx $1000 a year BUT that does not cover hail, wind or flood. Mortgage companies require wind and now if you get wind you must also get flood even if you are 15ft ASL. Wind and flood would cost us $12000 a year.

[@musiqueacoustique1]

You never answered the question. Where and how does the workforce live in KW?

[@garymcadamspa8450]

I didn't see that question. I apologize if I missed it. Stock Island which is the first island outside Key West is home to a lot of the workforce. Also Big Coppitt Key. Many will live on one of the Lower Keys from Big Pine Key down. Some will get 3-4 roommates and rent a place right downtown in Key West.

[@wesleyferguson6932]

They are insane to ŵork for the pay they are getting.

[@GemyMusag]

❤love

[@thejudge3132]

So...where does the Key West labor force live?

[@garymcadamspa8450]

It varies. Rents are also very high. Some will have 3/4 live in a house together. Others will go up the Keys to Big Pine which is about 27-28 miles from KW.

[@JohnDoe-xu2vx]

Neighborhood looks shady

[@garymcadamspa8450]

Not at all. Just a typical "Island Neighborhood". Most of the houses in the video are worth $1M-$1.5M.

[@JohnDoe-xu2vx]

@@garymcadamspa8450 I live in pricecy socal and these homes would be in the ghetto here

[@donnahollywood8007]

Nice but cant afford it :(

[@garymcadamspa8450]

Maybe one day :-)

[@gRosh08]

Yay! Taco Tuesday.

[@garymcadamspa8450]

Tacos are always better. They are even better after a day of looking at Key West homes for sale.

[@gRosh08]

@@garymcadamspa8450 Fish Tacos and Key Lime Pie.

[@markboudreaux868]

Damn it’s not cheap living there 😩

[@garymcadamspa8450]

It is pricy but when you compare it to like type locations Key West, or the Lower Keys are priced pretty low. You are on an island in Southern Florida. Let's look at Marco Island, Fisher Island, Star Island, Anna Maria Island, Captiva Island or Sanibel Island. Compare the prices to these locations and the Florida Keys will be on the lower end of the price point. Compare it to Nebraska and, yes, the Florida Keys are very expensive.

[@tomf9292]

Gary, Am I hearing a MASS accent?

[@garymcadamspa8450]

Yes. I've been in Key West for 33 years but grew up in Boston.

[@JahKnoxTV]

Too expensive.

[@garymcadamspa8450]

Yes, Key West is very expensive but if you compare it to like type places It's really not expensive. It's an island in Southern Florida. Lets look at Marco Island, Captive Island, Anna Maria Island, Fisher Island, Sanibel Island, Star Island then Key West homes are pretty cheap.If you compare it to Kentucky, yes, Key West is very expensive.

[@FerrellKatz]

Thanks to Bidenomics I'll never know.

[@garymcadamspa8450]

Not sure what you're asking?

[@FerrellKatz]

That isn't a question, just stating a fact. Some of us are feeling a crunch.@@garymcadamspa8450

[@sharkman5735]

Who the hell can afford it?

[@garymcadamspa8450]

On average we have 12-15 closings a day in Key West and about 50 a day in the entire Florida Keys. I personally have 2 under contract right now. People can afford it.

[@sharkman5735]

@@garymcadamspa8450 Yeah just not us poor retired Veterans. I’m 62. My dad is from Key West. His first car, was a Wellcraft! His family were Lobster fishermen until the Army had different plans for him. I absolutely love Key West. Just seems out of reach. Possibly buy a nice sailboat and live on it. I don’t think that’s very doable either. I don’t know…….. Maybe someday……..

[@pbcfisher3206]

Nope.. unbearable accent.

[@garymcadamspa8450]

Unfortunately Key West isn't for everyone. There are other great areas in Florida you could look at. I can help you there too. Just give me a call at 305-731-0501.