The Keys stretch 125 miles from Key Largo to Key West, with land permanently constrained by federal wetlands protections and building permits strictly controlled. The result: some of the most distinctive — and financing-intensive — residential real estate in the country.
What Makes Keys Financing Unique
ROGO permits: Monroe County's Rate of Growth Ordinance limits new construction; every home represents a permit that can't be replaced if demolished. Monroe County conforming limit: $874,000 (high-cost designation). Flood insurance: Nearly all properties in FEMA flood zones (AE/VE); $3,000–$15,000+/year depending on elevation certificate. Elevation certificate: Essential — we require an updated EC before finalizing any Keys pre-approval. Homeowners insurance: $8,000–$20,000+/year on a $600K–$1M property; some properties only insurable through Citizens. See Monroe County loan limits.
Market Snapshot 2026
Key West median SFR: $1.1M–$1.5M · Marathon/Islamorada: $800K–$1.5M+ · Key Largo: $700K–$1.3M · Big Pine/Lower Keys: $550K–$900K · DOM: 45–90 days · Months of supply: 4–7 (more balanced than the post-pandemic frenzy).
Financing Options
Jumbo: Most Key West purchases. 720+ credit, 20–30% down, 12 months reserves. High-Balance Conventional (under $874K): Key Largo, Big Pine, some Marathon — 5–20% down. Portfolio: Floating structures, non-standard elevation, historic Conch houses with deferred maintenance. DSCR: Key West vacation rentals generate $60K–$130K/year mid-range — reasonable DSCRs even at high prices.
Elevation Certificate Reality
Two identical Keys homes priced $100K apart can cost $50K/year differently in flood insurance — due solely to elevation. We run full cost-of-ownership analysis, not just the mortgage payment.
Contact Tayton Capital or apply now. Remote closings fully available.
📧 tj@taytoncapitalllc.com
📞 970-708-9624
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Frequently asked questions
What is the conforming loan limit in Monroe County (Keys)?
$874,000 for 2026. Most Key West purchases exceed this and require jumbo financing.
How much is flood insurance in the Florida Keys?
Highly variable — $3,000–$15,000+/year depending on flood zone, elevation certificate, and coverage. An updated EC is essential.
What is a ROGO permit in the Florida Keys?
Monroe County's Rate of Growth Ordinance limits new construction permits. Existing homes carry permits that can't be replaced if demolished — adding scarcity value.
Can I use a DSCR loan on a Key West vacation rental?
Yes — Key West vacation rentals with documented STR income qualify. Revenue potential and permitted STR status must be verified.
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