While Airbnb and other short-term rentals are legal in Key West, they are heavily regulated. Still, you may be able to find a lucrative rental that is in your price range. But even though it takes a property 53 days from listing to selling, the low supply of homes for sale in the city may not give a lot of options. Even though the median property price is above $1 million, the lowest-priced home for sale on Mashvisor is $199,000, so beginner investors can start investing here. Sales in Key West are more or less the same as how the overall US market is going.
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