Mortgage Rates in Key Largo, Florida — March 2026
Updated March 2026 | Based on Key Largo market data and regional lending conditions
Key Largo is a growing city in Florida with a population of 10,433. The current 30-year fixed mortgage rate in Key Largo is 6.68%, which is 0.03% above the national average. With a median home price of $366,000 and a 20% down payment of $73,200, homebuyers can expect a monthly principal and interest payment of approximately $1,885.
Current Mortgage Rates in Key Largo, FL
Below are the current average mortgage rates available in the Key Largo area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.68% | 6.65% | +0.03% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.93% | 6.85% | +0.08% |
Key Largo Housing Market Overview
The Key Largo housing market reflects moderate demand with prices near the national average. The median household income in Key Largo is $55,800, and the cost of living index is 91.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $92,143 to comfortably afford the median-priced home in Key Largo, which exceeds the current median household income.
Monthly Payment Breakdown for Key Largo
Based on the median home price of $366,000 with 20% down ($73,200), here is what you can expect to pay monthly in Key Largo:
15-Year vs. 30-Year Mortgage in Key Largo
Choosing a 15-year mortgage in Key Largo at 5.93% instead of a 30-year at 6.68% would save you $235,800 in total interest over the life of the loan. However, your monthly payment would be $2,460 instead of $1,885 — an increase of $575 per month.
Calculate Your Key Largo Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Key Largo
What are the current mortgage rates in Key Largo, FL?
As of March 2026, the average 30-year fixed mortgage rate in Key Largo, Florida is 6.68%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.03% above the national average of 6.65%.
How much is a monthly mortgage payment in Key Largo?
Based on the median home price of $366,000 with 20% down, the estimated monthly mortgage payment in Key Largo is $1,885 for principal and interest. Including property taxes of $265/month, the total monthly housing cost is approximately $2,150.
What income do I need to buy a home in Key Largo?
Using the 28% rule, you would need an annual income of approximately $92,143 to afford the median-priced home in Key Largo at $366,000. The median household income in Key Largo is $55,800. This means most households would need to either earn above the median or consider homes below $366,000.
Is Key Largo a good place to buy a home in 2026?
Key Largo offers a below-average cost of living with a cost of living index of 91.9 (national average = 100). The property tax rate in Florida is 0.87%, which is near the national average. Key Largo has a population of 10,433 and offers a very affordable lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Key Largo, Florida area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.