Key Biscayne, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Key Biscayne, FL Housing Market Trends

With a population of 14,809, 4,058 total housing units (homes and apartments), and a median house value of $2,853,508, 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 79.06% of the village's housing units. Other types of housing that are prevalent in Key Biscayne include single-family detached homes ( 18.11%), row houses and other attached homes ( 1.93%). This particular housing mix is relatively uncommon and characteristic of villages that are compact and walkable, and which often have a lively downtown.

Dwellings in Key Biscayne tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.04% 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 ( 18.16%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.47%).

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

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 199.88% over the last ten years, which is an average annual home appreciation rate of 11.61%, 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.

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 21.75%, which is higher than appreciation rates in 79.10% 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 8.35%, which equates to an annual appreciation rate of 37.83%.

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

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Key Biscayne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Key Biscayne - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Key Biscayne real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$2,853,508

Key Biscayne, FL HOME PRICES

> $1,118,000
62.8%
62.8%
$838,001 - $1,118,000
13.3%
13.3%
$559,001 - $838,000
14.2%
14.2%
$447,001 - $559,000
4.0%
4.0%
$335,001 - $447,000
3.0%
3.0%
$224,001 - $335,000
1.0%
1.0%
$111,001 - $224,000
1.0%
1.0%
$56,001 - $111,000
0.0%
0.0%
$0 - $56,000
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for FL

Value Relative To Nation

Number Of Homes And Apartments:
4,058

Key Biscayne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
320.26% 6.74%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,426 / per month

Homeownership Rate

Owners
69.3%
69.3%
Renters
30.7%
30.7%
Vacant
41.4%
41.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.5%
16.5%
1970 - 1999
65.2%
65.2%
1940 - 1969
18.2%
18.2%
1939 or Older
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
18.1%
18.1%
Townhomes
1.9%
1.9%
Small Apt. Buildings
0.4%
0.4%
Apt. Complexes
79.1%
79.1%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.4%
0.4%
1 Bedroom
5.8%
5.8%
2 Bedrooms
45.7%
45.7%
3 Bedrooms
26.7%
26.7%
4 Bedrooms
11.9%
11.9%
5 or more bedrooms
9.4%
9.4%
0.0% 100.0%
% OF HOMES

Popular Communities Near Key Biscayne, FL

Zip Codes in Key Biscayne, FL