Key Largo - Rising Seawater

[Jeff Ehman]

Looking at a possible STR in the Florida Keys (potentially Key Largo). I would like to keep the property for 20-30 years. I'm not from the area but should I be concerned about rising seawater? Is that something people consider down there?

Thanks!

[John Underwood]

Quote from @Jeff Ehman:

Looking at a possible STR in the Florida Keys (potentially Key Largo). I would like to keep the property for 20-30 years. I'm not from the area but should I be concerned about rising seawater? Is that something people consider down there?

Thanks!

 I've seen 2nd row houses that are now first row along the east cost. The 1st row gets wiped out by a hurricane and can't be built back because the water is too close now.

It would be a concern of mine. I would look for a house across the street that can never have a view obstructed because something like a park or parking lot is there.

[Jeff Ehman]

Quote from @John Underwood:

Quote from @Jeff Ehman:

Looking at a possible STR in the Florida Keys (potentially Key Largo). I would like to keep the property for 20-30 years. I'm not from the area but should I be concerned about rising seawater? Is that something people consider down there?

Thanks!

 I've seen 2nd row houses that are now first row along the east cost. The 1st row gets wiped out by a hurricane and can't be built back because the water is too close now.

It would be a concern of mine. I would look for a house across the street that can never have a view obstructed because something like a park or parking lot is there.

Thanks for the info!

[Dawn McComish]

@jeffehman       There has not been any such thing regarding 2nd row becoming first row here in the keys.  No ocean front homes have fallen into the ocean or been overcome with water. Yes.  Sea level is rising.  So low level area tend to get some water when the tide is really high.  

The bigger issue you have is that you are seeking a str in the keys.  Monroe county only allows 28 day minimum rentals with the exception of 2 incorporated cities that allow weekly rentals.  So if you are wanting a str investment in the keys - your only option is key colony beach 🏖️ or marathon. 

[Chase Hoover]

Be sure to speak to a few insurance companies as part of your due diligence.  When we pulled out of Florida in 2021, insurance for properties on/near the coast was becoming extremely expensive and carriers were dropping properties. 

[Brooklyn McCarty]

I feel like if you have a knowledgeable agent they should be able to help you here. 

[Michael Baum]

So I have been following some of the climate stuff trying to sort through all the "info" out there.

Sea levels have risen about 8 inches since 1880. Currently the sea level is rising at .13" per year overall. It does recede and rise but overall, .13".

Sea levels have steadily dropped for the last 100,000 years or so and thing are on the rise again.

It is hard for me to listen to climate emergency people as nothing has really come to fruition. Most of FL was supposed to be underwater by 2010.

Back in the 80's when I was growing up in north Idaho, climate people said the earth was cooling rapidly and our area would be covered by glaciers by 2020.

The bottom line is that computer models are not terribly accurate (have never been accurate actually) and that no one truly knows exactly what will happen, when or why. Theories abound.

Personally, I think you will be fine buying in the Keys if you can actually manage to do a STR there. Frankly there are other areas where it is just as cool but not nearly as tough.

[Scott Mac]

If you live near the ocean (near it's level) it's always a crapshoot if you are going to get flooded.

Sometimes it's the time of they year, sometimes it's a hurrican far far away, sometimes the city's water overflow devices get stuck, Sometimes it's a Hurricane, sometimes it's a Tsunami. 

Places like Arivada Colorordo do not have this problem.

Look at the flood insurance rates for the area and see if they fit into your plans.

Look at flood maps for the area and see how your intended property is situated.

Good Luck!