Salary Needed to Live in Key West as a Retiree
A retired individual (65+) needs approximately $31,011/year to live comfortably in Key West, FL — including 5% savings.
Comfortable Salary
$31,011
with 5% savings
Bare Minimum
$28,944
no savings buffer
Monthly Expenses
$1,809
48% above national avg
Detailed Monthly Budget for a Retiree in Key West
| Expense | Key West | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $231 | $121 | +91% |
| 🛒 Groceries | $23 | $16 | +44% |
| ⚡ Utilities | $18 | $15 | +20% |
| 🚗 Transportation | $23 | $18 | +28% |
| 🛡️ Car Insurance | $264 | $223 | +18% |
| 🏥 Health Insurance | $56 | $56 | 0% |
| Medicare Supplement | $310 | $200 | +55% |
| Prescription Drugs | $233 | $150 | +55% |
| Internet + Phone | $186 | $120 | +55% |
| Recreation & Social | $310 | $200 | +55% |
| Home Maintenance | $155 | $100 | +55% |
| Total Monthly | $1,809 | $1,219 | +48% |
How We Calculated the Salary
Monthly expenses:$1,809
Target savings (5%):$102/mo
Monthly after-tax needed:$1,911
Effective tax rate:25%
Gross annual salary needed:$31,011
Other Household Types in Key West
Related Pages
FAQ
What salary does a retiree need in Key West?
A retiree needs approximately $31,011/year ($2,584/month gross) to live comfortably in Key West with a 5% savings rate.
How much is rent for a retiree in Key West?
A 1-2br senior-friendly in Key West costs approximately $231/month, which is the largest single expense at 13% of the total budget.
Is Key West affordable for a retiree?
Key West is above the national average for retiree living costs, requiring 48% more salary than the US median.