Market Overview
Home Prices in Cedar Key, FL
The median home value in Cedar Key, FL is $321,454 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 6.7% compared to a year ago and down 6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cedar Key are priced22% below average. Cedar Key is part of the Gainesville, FL metro area.
Over the past five years, Cedar Key home values have risen by approximately18.6%, reflecting steady appreciation in this market.
Price History
Cedar Key Home Price Trend
City Comparison
Cedar Key vs. National Median
At $321,454, homes in Cedar Key cost 22% below the national median of $410,000. This makes Cedar Key a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cedar Key?
20% Down Payment
$64,291
on $321,454
Monthly P&I
$1,677/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,130/mo
incl. taxes & insurance
Income Needed
$85,200
gross annual (30% rule)
10% Down Option
$32,145
+ PMI applies
Loan Amount (20% dn)
$257,163
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cedar Key, FL?
The median home value in Cedar Key is $321,454 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 6.7% year-over-year.
How much have home prices changed in Cedar Key?
Over the past year, home values in Cedar Key have decreased by 6.7%. Over five years, prices have risen approximately 18.6%.
How much do I need to earn to buy a home in Cedar Key?
To comfortably afford the median home price of $321,454 with a 20% down payment ($64,291) at today's rates (6.8%), you'd need a gross annual income of approximately $85,200. This assumes keeping total housing costs at or below 30% of gross income.
How does Cedar Key compare to the national average home price?
The national median home value is approximately $410,000. At $321,454, homes in Cedar Key are 22% below the national average.
What metro area is Cedar Key part of?
Cedar Key is part of the Gainesville, FL metropolitan area. Home prices and market conditions can vary across the broader metro region.