Key Colony Beach, FL Profile: Facts & Data

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Key Colony Beach, Florida - Basic Facts

The City of Key Colony Beach had a population of 880 as of July 1, 2023.

The primary coordinate point for Key Colony Beach is located at latitude 24.721 and longitude -81.0187 in Monroe County. The formal boundaries for the City of Key Colony Beach encompass a land area of 0.44 sq. miles and a water area of 0.21 sq. miles. Monroe County is in the Eastern time zone (GMT -5).

The City of Key Colony Beach has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Florida is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Key Colony Beach is located within Middle Keys CCD of Monroe County.


Jump to... (On This Page!)
  1. Key Colony Beach 2023 Demographic Data
  2. Growth Rates for Key Colony Beach (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Florida Research Tools (Easy Tools & Current Data)
  3. Florida Data Comparison Tool - 2023 Demographics
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Key Colony Beach, FL Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 880 (100%)
Population in Households 856 (97.3%)
Population in Families 631 (71.7%)
Population in Group Quarters1 24 ( 2.7%)
Population Density 2,000
Diversity Index2 46
 
 

INCOME

Median Household Income $101,474
Average Household Income $138,536
% of Income for Mortgage4 43%
Per Capita Income $64,912
Wealth Index5 170
Socioeconomic Status Index6 High (65.6)
 

HOUSING

Total HU (Housing Units) 997 (100%)
Owner Occupied HU 261 (26.2%)
Renter Occupied HU 151 (15.1%)
Vacant Housing Units 585 (58.7%)
Median Home Value $727,865
Average Home Value $972,414
Housing Affordability Index3 58
 

HOUSEHOLDS

Total Households 412
Average Household Size 2.08
Family Households 255
Average Family Size 2.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population 3.38% -0.27%
Households 0.07% -0.19%
Families   -0.40%
Median Household Income   4.67%
Per Capita Income   2.62%
Owner Occupied HU   0.15%

Key Colony Beach, FL - Peer Comparisons by Rank and Percentile

The table below compares Key Colony Beach to the other 955 incorporated cities, towns and CDPs in Florida by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 799 16th
Population Density # 409 57th
Median Household Income # 100 90th
Housing Affordability Index # 116 12th
Per Capita Income # 94 90th
Diversity Index # 618 35th

Additional comparisons and rankings can be made with a VERY EASY TO USE Florida Census Data Comparison Tool.

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