Key Biscayne, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Key Biscayne Neighborhoods Since 2000




Key Biscayne, FL Real Estate Data


Key Biscayne Housing Market Information

With a population of 12,990, 4,287 total housing units (homes and apartments), and a median house value of $2,021,806, 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 76.32% of the village's housing units. Other types of housing that are prevalent in Key Biscayne include single-family detached homes ( 21.04%), row houses and other attached homes ( 1.95%). 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, 58.33% of the homes in Key Biscayne have two or fewer bedrooms.

There is a lot of housing in Key Biscayne built from 1970 to 1999 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 between 1940-1969 ( 19.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.82%).

A decent proportion of the Key Biscayne housing stock is seasonally occupied. That is, homes and condos in Key Biscayne are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Key Biscayne housing market speaks to its popularity as a vacation location of choice.

Key Biscayne Home Appreciation Rates

Appreciation rates for homes in Key Biscayne have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.91%, which ranks in the top 40% nationwide. This equates to an annual average Key Biscayne house appreciation rate of 0.76%.

Appreciation rates are so strong in Key Biscayne that despite a nationwide downturn in the housing market, Key Biscayne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Key Biscayne appreciation rates continue to be some of the highest in America, at 11.09%, which is higher than appreciation rates in 98.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Key Biscayne. Key Biscayne appreciation rates in the latest quarter were at 2.59%, which equates to an annual appreciation rate of 10.76%.

Relative to Florida, our data show that Key Biscayne's latest annual appreciation rate is higher than 70% of the other cities and towns in Florida.

Average Home Values

 

Median Home Value:
$2,021,806

Key Biscayne, FL HOME PRICES

Value Range
> $1,568,000 48.3
$1,176,001 - $1,568,000 15.2
$783,001 - $1,176,000 15.8
$627,001 - $783,000 4.9
$470,001 - $627,000 5.7
$313,001 - $470,000 2.4
$157,001 - $313,000 4.0
$79,001 - $157,000 0.0
$0 - $79,000 3.7

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
0.216665690695087 0.854700854700855

Number Of Homes And Apartments:
4,287

Rent & Ownership

 

Average Market Rent:
$2,894 / per month

Homeownership Rate

Homeownership
Owners 74.95
Renters 25.05
Vacant 40.80

Housing Market Details

 

Age of Homes

AGE OF Key Biscayne HOMES
2000 or Newer 9.8
1970 - 1999 70.8
1940 - 1969 19.4
1939 or Older 0.0

Types of Homes

TYPE OF Key Biscayne HOMES
Single-Family 21.0
Townhomes 1.9
Small Apt. Buildings 0.1
Apt. Complexes 76.3
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Key Biscayne HOMES
No Bedroom 0.15
1 Bedroom 11.46
2 Bedrooms 46.71
3 Bedrooms 23.76
4 Bedrooms 8.63
5 or more bedrooms 9.28

Key Biscayne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
160.72% 5.80% 10 10
* 10 is highest