Key West rents for workforce housing average $1,720 a month for one-bedroom

Key West is about to get yet another reminder of its sky-high cost of housing but with a few dollars knocked off from last year.

The annual income, sale and rent limits for workforce housing set by the U.S. Department of Housing and Urban Development have been published and will come before the Key West City Commission next week for approval, a local rubber stamp required by the federal government.

Rents for a single person earning $60,200 a year can’t go higher than $1,720 per month for a one-bedroom apartment or $1,505 for an efficiency, the 2016 HUD report states. That is the median income based on Monroe County annual income of $72,500.

In 2015, even with the median annual income $2,100 less, rents were a bit higher: $1,748 for that same one-bedroom apartment and $1,530 for the efficiency.

For a low-income single person who makes roughly $48,100 a year, a one-bedroom can’t cost more than $1,375 a month, while the median income limit for a married or partnered couple is $91,733 and a four-person family is $114,533.

The maximum sales price is $240,800, according to HUD.

City commissioners have the item on their agenda for Tuesday 6 p.m. meeting at Old City Hall, 510 Greene St.

Gwen Filosa: @KeyWestGwen on Twitter