33040, Key West, FL

The 33040 zip code of Key West, FL has a median home value of $239,900 and a median home equity value of $119,000. The 33040 zip code is located in the southernmost part of the state and has a population of just over 10,000. The average household income in the 33040 zip code is just over $60,000.

There are a number of factors that contribute to the high home values in the 33040 zip code. First and foremost, Key West is one of the most popular tourist destinations in the United States and there is always demand for property here. Additionally, many people who live in the 33040 zip code own vacation homes that they use during peak season (e.g., spring break). As a result, there is often strong demand for property even when it isn't being used as an investment vehicle.

Despite these high values, it's important to keep in mind that home equity isn't necessarily indicative of long-term financial stability. For example, if you were to lose your job or experience some other unforeseen financial hardship, you may find it difficult to repay your mortgage or take out additional loans to purchase additional property. Therefore, it's important to carefully consider all your options before making any major investments in real estate within the 33040 zip code.