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Old 05-22-2019, 07:23 PM
 
440 posts, read 386,828 times
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I was thinking of heading down to Key West for the summer to rent a room and chill out but when I got a look on Craiglist of the rents people are charging for a room there, I really have to wonder how people are making it there in a service based economy as they can't be making that much money unless they are a bartender or wait staff and I know they're not flying in the retail employees for their shifts.

There's no CityData thread for Key West so I was wondering if someone in Miami Dade has the 411 on what's going on there?

I saw room rentals of $1,300. a month, not even in Old Town, where you have to share a bathroom. Some of them are even in trailers on Stock Island, which isn't even Key West but the island connected to it on the north side. These rates posted weren't vacation rental rates and some calculated to even higher as they were listing them as a weekly rental instead of a monthly but you had to commit to something like a 6 month lease, which is a monthly rental in my book. If someone is making $10. an hour at 40 hours a week that's only about $1,600. a month before income taxes, social security and Medicare are taken out so how can someone pay that amount of rent on those kind of wages? I realize people can get around by bike instead of owning a car but that doesn't leave much left over to even buy food with.


I've seen some of the photos people have posted and I wouldn't exactly call these rooms luxury by any stretch of the imagination so how are people getting insane amounts of money for tiny rooms with what people are making there? Some even wanted part of the utilities paid in addition to the high rent for a room with a shared bathroom. I even saw some listings where they said they'd rent a room monthly to a couple but the rates were still what you'd pay for a studio or one bedroom apartment around Miami and you wouldn't have to share the bathroom with someone renting here or live two to a small room.
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Old 05-22-2019, 08:06 PM
 
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Supply and demand, that is what is up with the room rates.

Those making the low wages are typically seasonal workers, and they all lived piled in some rooms either owned by the establishments, or set up for them to rent, they seldom are just accepting an offer there and blindly going.
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Old 05-23-2019, 10:06 AM
 
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Many of the service workers are bused down there every day from Miami-Dade county. I use to see the bus heading south as I was driving on U.S. 1 very, very early in the morning.
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Old 05-23-2019, 10:28 AM
 
Location: South Florida
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Quote:
Originally Posted by boxus View Post
Supply and demand, that is what is up with the room rates.

Those making the low wages are typically seasonal workers, and they all lived piled in some rooms either owned by the establishments, or set up for them to rent, they seldom are just accepting an offer there and blindly going.
This
It's always been like that.
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Old 06-04-2019, 05:57 PM
 
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Default Not that High in 1994

I lived in Key West in 1994 in a two bedroom, two bath renovated two story townhouse where everything was new with a sun deck and a shaded patio with a rent of $1,000. a month. From what I've seen of listings down in Key West now, it's tough to find a room to rent for $1,000. a month.
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Old 06-04-2019, 07:16 PM
 
Location: Coral Gables / Bonita Springs
1,553 posts, read 850,262 times
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Key West Real Estate is extremely expensive so the cost is passed on of course to anyone renting there.

Trailers are very common as houses would be exorbitant costs. ($1k/night the Old town ones can bring in during season)

Also, craigslist is full of scams. Better off going down there, talking to real estate people, finding local areas where people post 'want' ads, etc. Craigslist isn't widely used down there. (in a lot of areas actually).

Facebook marketplace is much better as well, less scams.
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Old 06-05-2019, 07:49 AM
 
Location: US
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Just looked at a townhouse for sale in Key West. It was alright, but found out they were asking $1.8 million with a $750 monthly HOA fee.
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Old 06-14-2019, 02:53 PM
 
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Quote:
Originally Posted by Marc Middleton View Post
Key West Real Estate is extremely expensive so the cost is passed on of course to anyone renting there.

Trailers are very common as houses would be exorbitant costs. ($1k/night the Old town ones can bring in during season)

Also, craigslist is full of scams. Better off going down there, talking to real estate people, finding local areas where people post 'want' ads, etc. Craigslist isn't widely used down there. (in a lot of areas actually).

Facebook marketplace is much better as well, less scams.
I did go down to Key West this past weekend to check things out and I couldn't find any local postings in town to see any rooms to rent. A laundry mat on Truman at Center Street that used to be there is now something else and there's only one laundry mat in Old Town left and one on the edge of Old Town on White Street. The Gay and Lesbian Community Center building on Truman where there used to be postings has now been turned into some sort of museum.

There was one listing that came up on Facebook on Sunday for a furnished room in Old Town for $1,000 a month plus $500 for security but after the person messaged that it was available to look at, they never followed up. I'm thinking someone probably offered more for it in the time it took to message back and forth when someone else messaged them to look at it so they went with the offer for more rent.

My friends who own a house there told me there's a severe housing shortage in the Keys, especially in Key West, because of Hurricane Irma causing so much damage to houses and apartments on Marathon and on the Keys between Key West and Marathon so people moved into Key West. They said a lot of the room rentals in Old Town are in very run down old houses with no closet space in the rooms and most are rented only week to week or month to month as a lot of the houses are on the market to be sold.

There's also the situation where wealthy people are buying houses in Old Town that used to be divided into apartments and turning them back into single family vacation homes and as there's a shortage of offices in Old Town, some people buy the houses with apartments in them and turn them into offices. And of course, there are still people buying old houses with apartments in them and turning them into guest houses.

People who had rooms to rent in the New Town area were requiring first and last months rent plus a month's security deposit to move in so you would need about $3,000 upfront for a room rental and probably need a car to get to and from work as the climate is the same here where it's very hot and rainy in the summer months and biking it to and from work and everywhere else from New Town would be a bit miserable in the summer months.
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Old 06-14-2019, 06:51 PM
 
Location: Coral Gables / Bonita Springs
1,553 posts, read 850,262 times
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Quote:
Originally Posted by HotandHumid View Post
People who had rooms to rent in the New Town area were requiring first and last months rent plus a month's security deposit to move in so you would need about $3,000 upfront for a room rental
Pretty standard all over the place. Takes 45 days typically for an eviction so landlords usually want 3 months up front to move in anywhere. For a room to rent, I wouldn't do more than 2 months. Only apartment buildings let you move in for cheap, private owners were burned too many times.

If I were you, I'd rent a $2500 townhome and get a roommate for $1000/month and keep the master bedroom for yourself. (might have to share a bathroom though!)
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Old 06-20-2019, 02:51 PM
 
Location: Inland FL
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Liberal and dirty crap towns tend to be expensive for some reason.
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