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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 12,990 people, 4,570 houses or apartments, and a median cost of homes of $1,408,023, 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 78.11% of the village's housing units. Other types of housing that are prevalent in Key Biscayne include single-family detached homes ( 19.96%), row houses and other attached homes ( 1.35%). 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, 59.05% 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 ( 20.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.37%).
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.
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 2.56%, which ranks in the top 50% nationwide. This equates to an annual average Key Biscayne house appreciation rate of 0.25%.
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 10.24%, which is higher than appreciation rates in 94.45% 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 1.80%, which equates to an annual appreciation rate of 7.39%.
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 60% of the other cities and towns in Florida.
|$1,040,001 - $1,386,000||13.7|
|$694,001 - $1,040,000||15.0|
|$555,001 - $694,000||6.1|
|$416,001 - $555,000||4.3|
|$277,001 - $416,000||3.2|
|$139,001 - $277,000||4.1|
|$69,001 - $139,000||0.0|
|$0 - $69,000||3.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Key Biscayne HOMES|
|2000 or Newer||10.4|
|1970 - 1999||68.7|
|1940 - 1969||20.9|
|1939 or Older||0.0|
|TYPE OF Key Biscayne HOMES|
|Small Apt. Buildings||0.1|
|SIZE OF Key Biscayne HOMES|
|5 or more bedrooms||7.86|