Home Insurance in Key Colony Beach, Florida
Homes in Key Colony Beach carry a median value of $919,800 - 18% higher than the Monroe County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Key Colony Beach was built around 1985. About 9% of homes were built before 1960, about 6 points below Monroe County's 15%.
In Key Colony Beach, the housing stock is 72% single-family homes and 20% apartments in buildings with 5+ units.
About 45% of owner-occupied homes in Key Colony Beach have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 74%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 68% of occupied homes in Key Colony Beach are owner-occupied.
In Key Colony Beach, 100% of homes are primarily heated with electricity.
What's the biggest home insurance risk near Key Colony Beach? FEMA's National Risk Index points to coastal flooding (Very High) in Monroe County and Monroe County had 30,715 active NFIP flood policies as of September 2026. See the full Monroe County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In Florida, the statewide average premium for a standard HO-3 homeowners policy is $2,779 per year (NAIC, 2023 data).
Key figures
| Median home value | $919,800 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 68% |
| Share of owner-occupied homes with a mortgage | 45% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Monroe County | 30,715 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
- Marathon
- Layton
- Islamorada, Village of Islands
- Key West
- Florida City
- Homestead
- Cutler Bay
- Palmetto Bay
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)