Quick Take
- Longboat Key attracts affluent residents, but you don’t need to be ultra-wealthy to live here.
- Condos offer the most accessible entry point, with some options starting in the $300s.
- Lifestyle is peaceful, scenic, and exclusive, but there are varying home types for different budgets.
- Costs include taxes, insurance, HOA/condo fees, and flood coverage, all important to plan for.
Who Actually Lives on Longboat Key?
A small population with a unique demographic mix.
Longboat Key is home to just 7,500 full-time residents, a number that grows to nearly 20,000 in the winter as seasonal homeowners return. Historically, the island has attracted retirees, thanks to its peaceful atmosphere and natural beauty.
But that’s starting to shift. Longboat Key is evolving. The demographic is diversifying, and lifestyle preferences are changing, creating space for people at different income levels.
You’ll now find:
- Younger professionals moving here for remote work
- Families choosing the island for safety and coastal lifestyle
- Seasonal residents escaping colder climates
- Retirees who want tranquility — without giving up convenience
The median age is around 71, and the median household income is about $143,000 (Data USA). These numbers reflect the island’s affluence, but not its entire story.
Why People Love Living on Longboat Key
Calm, beauty, nature — and an island that feels like an escape.
Tranquility & Natural Beauty
Soft white sands, turquoise water, Gulf and Bay views, and spectacular sunsets — Longboat Key is known for serenity. If you want quiet beach walks over nightlife, this island checks that box.
Relaxed Coastal Lifestyle
Golf, boating, fishing, pickleball, walking paths, upscale or casual dining — life here is slow, intentional, and centered around outdoor enjoyment.
Seasonal Appeal
From October through April, Longboat Key becomes a warm-weather haven for seasonal residents escaping northern winters.
Privacy & Exclusivity
Beaches are uncrowded, neighborhoods are peaceful, and the island feels tucked away from busier tourist areas.
If you want to be near culture, nightlife, or entertainment, downtown Sarasota and Bradenton Beach are minutes away, giving you the best of both worlds.
What Do Homes Cost on Longboat Key?
Yes, Longboat Key has multimillion-dollar estates. But that’s just one piece of the market.
Our Median Home Prices (2025)
- Single-family homes: ~$1.64M
- Condos: ~$1M
But there is much more variation beneath those averages. Let's take a further look.
Ultra-Luxury Homes: $16M+
Longboat Key has some of the highest-end real estate in Florida, especially along the Gulf.
These properties include:
- Beachfront estates
- Architect-designed residences
- Brand-new custom homes
- Rare, oversized waterfront lots
But these represent a very small percentage of the overall market.
Newer Waterfront Homes: $4M–$6M
On canal-front streets with direct access to Sarasota Bay, newer or fully remodeled homes typically begin around $4–6 million. My husband's company, Brista Homes, specializes in building custom waterfront homes and we usually have spec homes available for sale. Reach out to me if you're interested in knowing our current or upcoming inventory.
Older Non-Waterfront Homes: ~$1M
This is where real opportunity appears for buyers who want single-family living at a lower entry point. Some older homes — depending on condition, size, and proximity to the beach — can list closer to $1 million.
In Longbeach Village, flood-affected cottages have sold in the $500,000 range, making them one of the rarest lower-cost single-family options on the island.
Condos: The Most Accessible Entry to Longboat Key Living
On Longboat Key, condos create price accessibility but also vary dramatically by location, amenities, and condition.
Entry-Level Options ($300s–$600s)
Older condo buildings, especially bayside or in 55+ communities, may start in the low $300,000s. Recently, Spanish Main, where detached condo homes built in the 1960s have sold in the low $300s, though many need renovation after storm impact.
These properties offer a lower acquisition price but come with:
- Higher monthly condo fees
- Flood and hazard insurance baked into association costs
- Age restrictions in some communities
Explore Entry-Level Condos:
Mid-Range Condos ($400k–$1M)
Bayside condos, mid-rise buildings, or communities with fewer amenities often fall in this range.
Explore Mid-Range Condos:
Bayport
Beachplace
Inn on the Beach
Privateer
Seaplace
High-End Condos ($1M–$21M)
Beachfront views, modern finishes, and resort-style amenities can rival the price of smaller single-family homes. The most expensive recorded condo sale to date? A residence in The St. Regis at $21 million (2025).
Explore High-End Condos:
So is Longboat Key Only for the Wealthy?
Not necessarily. Here’s the truth.
Whether Longboat Key is “expensive” depends on your frame of reference.If you compare it to the U.S. average, then Yes, housing prices and income levels are significantly higher. But if you compare it to other Florida coastal islands, Longboat Key is surprisingly competitive, especially for condos that offer Gulf or Bay proximity, quality construction, resort-style amenities and privacy and limited density.
Longboat Key is feasible for:
- Retirees with savings
- Remote workers seeking a quieter lifestyle
- Downsizers selling a home in a high-cost market
- Buyers looking for a second home or investment condo
So, do you need to be wealthy? Not ultra-wealthy but financially prepared. The cost profile becomes clearer when you factor in ownership expenses.
Additional Costs to Consider
These apply island-wide and matter just as much as purchase price.
Property Taxes
Approximately 1.5% of purchase price. Primary residents may apply for Homestead Exemption to reduce taxes.
Insurance
Coastal living means:
- Flood insurance (required everywhere on the island)
- Property insurance (higher statewide due to storm activity)
In condos, this is bundled into monthly fees.
Condo Fees / HOA Fees
Can range widely depending on:
- Amenities
- Building age
- Reserves and upkeep
- Flood + hazard insurance
- Community maintenance
On Longboat Key, condos create price accessibility but also vary dramatically by location, amenities, and condition.
FAQs About Affordability on Longboat Key
1. Can you live on Longboat Key on a moderate income?
Yes — especially in budget-friendly condo communities or older single-family homes.
2. What’s the cheapest housing on Longboat Key?
Some older condos and 55+ communities can start in the low $300s, depending on condition.
3. Is Longboat Key more expensive than Siesta Key or Anna Maria Island?
In many cases, Longboat Key offers more affordability in older condos, but newer construction and beachfront homes are pricier.
4. Are there affordable waterfront homes?
Not typically — waterfront carries a premium. Bayside condos are usually the most budget-friendly way to live near water.
5. What hidden costs do buyers overlook?
Insurance, flood coverage, property taxes, and condo or HOA fees.
Thinking About Moving to Longboat Key?
If you're considering living on Longboat Key and want real examples of what fits your budget — from condos to single-family homes — I’m here to help.
And for more neighborhood deep dives, be sure to subscribe to Living in Longboat Key on YouTube.
