Cheap Apartments for Rent in Key West, FL from $500 (24 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments available for rent right now in Key West.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Read Article
close
View Me
Meridian West
1 to 3 Bedroom Apartments

Meridian West

6701 Shrimp RdKey West, FL 33040
close
View Me
Banyan Grove Apartments
2 to 3 Bedroom Apartments

Banyan Grove Apartments

5455 MacDonald AveKey West, FL 33040
  • Utilities Included
close
View Me
Flagler Village
1 to 3 Bedroom Apartments

Flagler Village

5300 Macdonald AveKey West, FL 33040
  • Utilities Included
close
View Me
Poinciana Gardens
Studio to 2 Bedroom Apartments

Poinciana Gardens

1664 Dunlap DrKey West, FL 33040
Senior Living

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Read Article
close
View Me
Arrive Key West
1 to 3 Bedroom Apartments

Arrive Key West

3333 Duck AveKey West, FL 33040
Military

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Read Article
Showing Results 1-24, Page 1 of 1

Key West, FL Local Guide

Cheapest Neighborhoods for Apartments in Key West, FL

Pricing Updated: 05/07/2026

Current apartment rentals in the Key West, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Key West Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Key West Golf Club$3,514$1,80019
New Town$7,718$1,80019
White Street Gallery District$7,718$2,2002

Cheapest Available Key West Apartments for Rent

 

The cheapest available apartment rental in Key West, FL is a 2 Beds unit found at Flagler Village in the Key West Golf Club neighborhood priced from $1,666. Ocean Walk in the Key West Golf Club neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $2,510. Here is today’s list of the most affordable Key West apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Flagler Village2 bedroom -2 Bath2BR,2BA$1,666
Ocean WalkThe Beach Comber2BR,1BA$2,510
Arrive Key WestApex1BR,1BA$2,639
The QuarryIsla Shore1BR,1BA$2,799
Sunset Marina5555 College Road - 5531 College Rd; Unit 2 553...2BR,2BA$3,300

Best Value Apartments for Rent in Key West, FL

As of May 07, 2026 the best value apartment in the Key West area is the $3.45 price per square foot 3930 S Roosevelt Blvd Model at 3930 S Roosevelt Blvd, Unit Unit N204 in the in the Key West Golf Club neighborhood starting from $3,700. The second greatest value Key West apartment is the Three Bedroom Model at Lofts at Bahama Village starting at $3,961 with a $3.77 price per square foot . Here is today’s list of the best values for Key West apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
3930 S Roosevelt Blvd, Unit Unit N2043930 S Roosevelt Blvd3BR,2BA$3.45
Lofts at Bahama VillageThree Bedroom3BR,2BA$3.77
8 Hilton Haven Rd8 Hilton Haven Rd1BR,1BA$3.00
Sunset Marina5555 College Road - 5571College Road; Unit #1 55712BR,2BA$4.75
Flagler Village2 bedroom -2 Bath2BR,2BA$2.29
The QuarryIsla Shore1BR,1BA$4.00
Ocean WalkThe Sand Dollar1BR,1BA$4.37
Arrive Key WestApex1BR,1BA$5.38
1505 White St, Unit Efficiency1505 White StStudio ,1BA$5.50
2908 Harris Ave, Unit Furnished Apartment2908 Harris AveStudio ,1BA$5.50

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

Read Article
Decorative image

Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

Read Article
Decorative image

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Best Local Schools in
Key West, FL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Key West, FL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Key West, FL

View Map
Key West, FL Apartments Map
View Map
Key West, FL Rental Homes Map

Frequently Asked Questions about Cheap Key West Apartments

How much is rent for a Cheap One Bedroom Key West Apartment?

The lowest price for a Cheap One Bedroom Key West Apartment is $2,779 at Arrive Key West.

What is the lowest price for a Cheap Two Bedroom Key West Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Key West is starting from $1,666 at Flagler Village.

What is the most affordable Key West Three Bedroom Apartment?

The best deal on a cheap Key West Three Bedroom Apartment rental is at Arrive Key West and starts from $3,709.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.