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These days, finding an affordable place to live in the Key Biscayne area can be challenging. Home prices in Key Biscayne are now at a median cost of $1,468,808, higher than the Florida average of $396,783.
The average cost of rent is $3,396/mo in Key Biscayne, primarily driven by the current value of real estate in the Key Biscayne area. In Key Biscayne, 33.45% of households rent, and 53.25% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Key Biscayne is $15,993 per month. Households that rent pay about 21.23% of their income on rent here. Key Biscayne’s most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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