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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 14,435 people, 4,658 houses or apartments, and a median cost of homes of $3,195,715, 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 79.13% of the village's housing units. Other types of housing that are prevalent in Key Biscayne include single-family detached homes ( 17.93%), row houses and other attached homes ( 2.38%). 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.

People in Key Biscayne primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Key Biscayne has a mixture of owner-occupied and renter-occupied housing.

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 ( 21.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.85%).

Vacant housing appears to be an issue in Key Biscayne. Fully 37.08% of the housing stock is classified as vacant. Left unchecked, vacant Key Biscayne homes and apartments can be a drag on the real estate market, holding Key Biscayne real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 180.82% over the last ten years, which is an average annual home appreciation rate of 10.88%, 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 7.63%, which is higher than appreciation rates in 79.49% 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 1.92%, which equates to an annual appreciation rate of 7.90%.

Relative to Florida, our data show that Key Biscayne's latest annual appreciation rate is higher than 80% 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

$3,195,715

Key Biscayne, FL Home Prices
> $1,054,000
$790,001 - $1,054,000
$527,001 - $790,000
$422,001 - $527,000
$316,001 - $422,000
$211,001 - $316,000
$105,001 - $211,000
$53,001 - $105,000
$0 - $53,000
64.5%
64.5%
10.9%
10.9%
15.4%
15.4%
4.2%
4.2%
2.8%
2.8%
0.9%
0.9%
0.0%
0.0%
0.0%
0.0%
1.3%
1.3%
0% 100.0%
% of Homes
Very High

for Florida

Very High

for nation

Number of Homes And Apartments:

4,658

Key Biscayne Appreciation Rates

Rent & Ownership

Average Market Rent:

$6,784 / per month

Homeownership Rate

Owners
Renters
64.9%
64.9%
35.1%
35.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
37.1%
37.1%
62.9%
62.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.8%
13.8%
64.7%
64.7%
21.0%
21.0%
0.4%
0.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
17.9%
17.9%
2.4%
2.4%
0.3%
0.3%
79.1%
79.1%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
8.4%
8.4%
42.9%
42.9%
27.9%
27.9%
11.0%
11.0%
8.9%
8.9%
0% 100.0%
% of Homes

Popular Communities Near Key Biscayne, FL

Zip Codes in Key Biscayne, FL