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Cedar Key

Learn about the people, housing, costs and businesses in Cedar Key, Florida

Median Home$301,600
Median Rent$841/month
Population688
Leading IndustriesEducation · Construction · Wholesale Trade4% education
Home Value Growth⬆⬆⬆+71.8% over 2 years
Retirees35% of residentstop 3% nationally
Homeowners87% of occupied units
NotableTransit84/100 · excellent transit access
NotableVeteran Community9% of residents · top 22% nationally
Cedar Key
FL

Frequently Asked Questions

What are today's mortgage rates in Cedar Key?

As of today, the 30-year fixed mortgage rate for Cedar Key is approximately 6.987% (7.026% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Cedar Key?

The median home value in Cedar Key is $302k. The median monthly rent is $841. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Cedar Key?

Home values in Cedar Key have increased 71.8% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Cedar Key?

Based on a typical all-in ownership cost of $703/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $30k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Cedar Key is $54k/year.

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What industries drive the economy in Cedar Key?

The largest employment sectors in Cedar Key are public administration (20%) and wholesale trade (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.