Upper Keys Luxury Homes For Sale
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A Beautiful Impeccably Maintained Custom Waterfront Pool Home For Sale
3/2, 2,669.00 sq ft. Built 2002
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What's New FEBRUARY 2024
2024 Upper Florida Keys Cost of Living Forecast
Based on the current trends, we can forecast that the cost of living in the Upper Florida Keys will continue to increase over the next few years. This is mainly due to the steady growth in the tourism industry, leading to higher demand for housing and goods/services. Additionally, increases in property values and taxes may also contribute to the rising cost of living.
According to data from the U.S. Census Bureau, the median home value in the Upper Florida Keys has increased by over 18% since 2010. This trend is expected to continue, as more people are attracted to the beautiful beaches and outdoor activities in the area.
Furthermore, the cost of goods and services is also likely to rise over the next few years. The tourism industry plays a significant role in the economy of the Upper Florida Keys, and as more visitors come to the area, businesses may increase their prices to meet the growing demand.
According to the Bureau of Labor Statistics, the cost of food and beverages in Monroe County (which includes the Upper Florida Keys) has increased by approximately 11% since 2015. As consumer demand grows, this trend is expected to continue, resulting in a higher cost of living.
The cost of utilities, such as water and electricity, is also likely to increase as the population in the Upper Florida Keys grows. While there are efforts to increase renewable energy sources in the area, the high cost of living in an island economy can lead to a higher cost of electricity for residents.
Charlotte Porter REALTOR®
85996 US-1, Islamorada, Fl. 33036
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