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Flood insurance cost · ZIP 33040 · FL

Flood insurance cost in ZIP 33040 (Key West, FL)

What homeowners with a National Flood Insurance Program policy actually pay, from FEMA's records of 6,558 home policies in force on August 31, 2026.

ZIP code 33040 (Key West, FL)Policies in force on Aug 31, 2026

Median annual cost of NFIP flood insurance for a home

$2,420a year

Half of insured homes paid between $1,253 and $4,011. That is 22% more than the Monroe County median ($1,986). Most insured homes here are rated in zone AE (85%).

$0$1,253 · $2,420 · $4,011$5,014
+13.7% vs Aug 31, 2025 (median $2,129)
6,558home policies in force
$2,838average cost (mean)
86%of insured homes in high-risk zones (A, V)
$250,000median building coverage

This is what policyholders paid, not a quote. Two neighbors can pay very different prices: NFIP prices depend on the building (elevation, foundation, number of floors, replacement cost), the coverage and deductible chosen and the distance to water (FEMA FloodSmart: premium factors). For a price for your building, ask an insurance agent. Private flood insurance is not included in these figures.

Cost by flood zone in ZIP code 33040

The flood zone on FEMA's map is one of the main price factors. Median and middle half of what insured homes paid, by the zone used to rate the policy.

Flood zoneMedianMiddle half (25th–75th percentile)AveragePoliciesvs last year
Zone VE / V
High risk, coastal		$2,754$1,689–$5,661$3,829118 (2%)+1.4%
Zone AE
High risk		$2,825$1,282–$4,275$3,0205,543 (85%)+13.0%
Zone X
Moderate to low risk		$1,311$1,231–$1,494$1,584897 (14%)+13.4%

Not shown (fewer than 10 home policies): A, AO, AH, A99/AR, D. Shares are of all insured homes; a few policies have no rated zone. "vs last year" compares medians with policies in force a year earlier.

Cost by type of building

All NFIP policies in force in ZIP code 33040, by what they insure.

Type of buildingPoliciesMedianAverage
Single-family home5,361$2,377$2,895
2–4 unit building778$3,584$3,149
Manufactured (mobile) home205$1,862$1,984
Condo or apartment unit214$912$1,125
Whole residential building (5+ units or condo association)
One policy covers the whole building, so the cost is much higher than for a single home.		331$5,965$7,828
Non-residential building or unit
Businesses, churches, farm buildings and other non-residential property.		812$5,361$7,483
7,701NFIP policies in force, any building
9,844insured units (condo association policies count every unit)
57%of home policies also cover contents
$85,000median contents coverage, when bought

One year on: ZIP code 33040

Policies in force on August 31, 2026 compared with a year earlier. Nationwide, practically all policies in both years carry FEMA's Risk Rating 2.0 occupancy codes, so both years use the same pricing system. The policies are not the same: some were new, some lapsed.

Aug 31, 2025Aug 31, 2026Change
Home policies in force6,6946,558−2.0%
Median annual cost$2,129$2,420+13.7%
Average annual cost$2,566$2,838+10.6%
All policies in force (any building)7,8677,701−2.1%

Flood claims history

Since 1978, NFIP policyholders in ZIP 33040 have filed 8,242 flood claims. 5,771 received a payment, for a total of $274.0 million (an average of $47,481 per paid claim). The year with the most claims was 2005 (4,352 claims). Amounts are in dollars of the time, not adjusted for inflation.

02k4k6k8k1980: 259 claims, 171 paid, $420,875 in total19801983: 28 claims, 22 paid, $41,786 in total1985: 29 claims, 13 paid, $59,434 in total19901994: 132 claims, 79 paid, $839,309 in total1996: 11 claims1998: 1,514 claims, 526 paid, $5,240,423 in total19981999: 118 claims, 76 paid, $606,312 in total20002005: 4,352 claims, 3,947 paid, $219,348,604 in total20052006: 16 claims2008: 18 claims, 14 paid, $330,206 in total20102011: 31 claims, 10 paid, $240,827 in total2013: 10 claims2017: 1,124 claims, 442 paid, $18,790,111 in total20172020: 43 claims, 26 paid, $619,600 in total20202022: 448 claims, 392 paid, $26,100,179 in total2025: 11 claims
Flood claims per year of loss, 1978–2026. Years with fewer than 10 claims are left blank. Hover a bar for details.
All years with at least 10 claims (16)

Swipe the table sideways to see all columns.

Year of lossClaimsPaid claimsTotal paidAverage per paid claim
202511<10––
2022448392$26,100,179$66,582
20204326$619,600$23,831
20171,124442$18,790,111$42,512
201310<10––
20113110$240,827$24,083
20081814$330,206$23,586
200616<10––
20054,3523,947$219,348,604$55,573
199911876$606,312$7,978
19981,514526$5,240,423$9,963
199611<10––
199413279$839,309$10,624
19852913$59,434$4,572
19832822$41,786$1,899
1980259171$420,875$2,461

From 2016 to 2026: 1,626 claims (counting only years with at least 10). 2026 is a partial year. Claims are counted where the insured property is; they include buildings and contents, homes and businesses.

NFIP communities in this ZIP code

Key West (4,790 home policies) · Unincorporated Monroe County (1,766 home policies). A ZIP code can cross city and county lines; each policy is counted once, in the ZIP code reported for the insured building.