Key Biscayne appreciation rates and housing market information

Key Biscayne housing market information

With 10,477 people, 6,368 houses or apartments, and a median cost of homes of $878,049, Key Biscayne house prices are not only among the most expensive in Florida, Key Biscayne real estate also is some of the most expensive in all of America.

large apartment complexes or high rise apartments are the single most common housing type in Key Biscayne, accounting for 76.68% of the village's housing units. Other types of housing that are prevalent in Key Biscayne include single-family detached homes (20.62%), and a few row houses and other attached homes (2.20%). Villages that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of villages are often walkable and compact, and often have a lively downtown.

Dwellings in Key Biscayne tend to be quite small (one, two, or no bedrooms) and owner-occupied. In fact, 64.71% of the homes in Key Biscayne have two or fewer bedrooms.

There is a lot of housing in Key Biscayne built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Key Biscayne built from 1940-1969 (32.05%). A lesser amount of the housing stock also hails from 1995 and later (11.65%), and some were built from 1939 and earlier (11.65%).

Key Biscayne home appreciation rates

In the last 10 years, Key Biscayne has experienced some of the highest home appreciation rates of any community in the nation. Key Biscayne real estate appreciated 187.75% over the last ten years, which is an average annual home appreciation rate of 18.77%, putting Key Biscayne in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Key Biscayne definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Key Biscayne home appreciation rates, at 0.81%, have been at or slightly above the national average. In the latest quarter, Key Biscayne's appreciation rate has been 3.73%, which annualizes to a rate of 14.92%.

Importantly, this makes Key Biscayne one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Florida, our data show that Key Biscayne's latest annual appreciation rate is higher than 98% of the other cities and towns in Florida.