New Town is the first neighborhood when coming onto the actual island of Key West.  You will encounter middle to upper end homes with primarily year round residents.  I live in New Town myself.  It allows you to be on the island of Key West, but still remain in a quiet low key setting.  New Town is located very close to shopping, schools and near the highway for that weekend away.  The homes in New Town generally have larger lots and tend to be a little bigger than homes getting closer to downtown.  I enjoy being away from the downtown hustle when I want quiet, but still just a five-minute drive to Duval Street.