Key West Transit Development Plan FY2025-2034

2.4 Tourism and Seasonal Populations

In 2016, the median household income in Key West was $58,494, a significant increase of $17,144 (29.3%) by 2021, reaching $75,638. Per capita income also witnessed substantial growth, rising from $32,428 in 2016 to $51,786 in 2021, marking an increase of $19,358 (59.7%). The number of people living below the poverty line decreased from 3,198 (12.3%) in 2016 to 2,995 (11.2%) in 2021, indicating a modest improvement in economic well-being. Similarly, the percentage of households receiving public assistance increased by 27.7%, with 274 households (1.1%) in 2016 growing to 350 (1.3%) in 2021. In terms of the workforce, the population aged 16 and above in the labor force expanded by 935 individuals (6.0%) from 15,695 in 2016 to 16,630 in 2021. Despite a decrease in the number of people below the poverty line and a modest increase in those receiving public assistance, the labor force showed growth during this period.

2.4 Tourism and Seasonal Populations Known as the “Conch Republic,” Key West is a popular tourist destination that experiences fluctuations in its population due to seasonal and tourism-related factors and the economy is heavily reliant on tourism. Cruise ships often dock at Key West, bringing thousands of day-trippers who explore the city’s attractions. Notable Events and Festivals: Key West hosts numerous festivals and events throughout the year, including Fantasy Fest, the Key West Songwriters Festival, and the Hemingway Days celebration. Seasonal Populations: Key West experiences significant seasonal population fluctuations, primarily due to “snowbirds.” These are individuals, often retirees, who migrate from colder climates to Key West during the winter months, seeking warmer weather. The influx of seasonal residents can impact various aspects of life in Key West, including housing availability, traffic congestion, and demand for services. Economic Impact: Tourism is a major economic driver in Key West, providing employment opportunities in the hospitality and service sectors, including hotels, restaurants, and entertainment venues. The tourism industry also supports a variety of related businesses, such as tour operators, water sports providers, and local shops. Sales tax revenue generated from tourists helps fund local government services. Challenges and Considerations: The heavy reliance on tourism and seasonal populations means that the economy is sensitive to external factors, such as global economic conditions, natural disasters, and pandemics (as evidenced during the COVID-19 pandemic). The challenge for the city lies in managing the balance between preserving its exclusive character and accommodating the seasonal and tourist populations that drive its economy.

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Transit Development Plan FY 2025–2034