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Key Biscayne, FL Real Estate Guide

Cross the Rickenbacker and the market changes character entirely: Key Biscayne caps its condo density by ordinance, no new building has delivered since 2014, and the village between Crandon and Bill Baggs parks runs on bikes, the K-8 school and the beach. Inventory this constrained rewards patient buyers — units in the established oceanfront buildings rarely linger.

Key Biscayne Market Snapshot

Every figure below is computed from closed MLS transactions in Key Biscayne over the trailing twelve months — what buyers and tenants actually paid, not asking prices — and refreshes continuously.

226
Homes sold, last 12 months
$1.6M
Median sale price
$967
Median price per sqft
60 days
Median time on market
394
Leases signed, last 12 months
$7,000/mo
Median rent achieved
$4
Median rent per sqft
61 days
Median time to lease
Homes Sold per Month
14Oct7Nov19Dec19Jan18Feb21Mar23Apr17May26Jun29Jul21Aug6Sep
Median Sale Price per Month
$2.8M$1.3MOctNovDecJanFebMarAprMayJunJulAugSep
Median Sale Price by Bedrooms
BedroomsSalesMedian price
Studio3$950,000
1 bd21$530,000
2 bd87$1,230,000
3 bd73$2,500,000
4 bd21$3,400,000
5+ bd21$5,265,000
Sales by Property Type
TypeSalesMedian price
Condominium183$1,380,000
Single Family Residence40$4,537,500
Stock Cooperative2$2,110,000
Townhouse1$2,850,000
12-Month Sales Trend
MonthHomes soldMedian price
Oct 202514$2,325,000
Nov 20257$2,150,000
Dec 202519$1,300,000
Jan 202619$1,300,000
Feb 202618$1,992,500
Mar 202621$1,250,000
Apr 202623$2,750,000
May 202617$1,550,000
Jun 202626$1,635,000
Jul 202629$1,330,000
Aug 202621$1,550,000
Sep 20266$1,427,500
Median Rent by Bedrooms
BedroomsLeasesMedian rent
1 bd39$3,250/mo
2 bd215$6,200/mo
3 bd87$10,000/mo
4 bd26$15,000/mo
5+ bd25$22,000/mo

An Island Between Two Parks

Key Biscayne's geography is its constitution: a village wedged between Crandon Park to the north and Bill Baggs Cape Florida State Park to the south, with protected land guarding both ends of the island forever. Inside that frame lives a small town connected to the mainland by exactly one causeway — a place of golf carts, bicycles, kids riding to school and a village government that defends the scale with conviction. The result is a rarity in greater Miami: a community that is genuinely quiet, genuinely safe-feeling and bounded by two of the state's most celebrated beaches.

The Key's population runs deeply international, with Latin American families treating the island as a multigenerational North American base, and deeply loyal — arrivals meant to be temporary routinely become permanent. Island living asks its dues: hurricane readiness is a civic habit and the single causeway is a shared dependency. Residents pay them willingly for the privilege of raising families minutes from a lighthouse beach that appears on national rankings year after year.

Condos on the Ocean, Homes in the Middle

The Atlantic side carries the island's condominium spine: the Ocean Club's gated resort campus at the north end, Key Colony's four-village complex wrapping tennis courts and beach through the middle, and the Towers of Key Biscayne toward the lighthouse, with the boutique Oceana Key Biscayne representing the newest luxury construction. On the bay side, Grand Bay's towers and the streets near the yacht club trade ocean sunrise for skyline sunset over the water.

Between beach and bay runs the village's single-family core — Cape Florida's gated section, the canal streets of Holiday Colony, Mashta Island's estate addresses and the mid-island blocks where 1950s ranches give way, one by one, to new coastal builds. Because parkland caps the island's growth permanently, the market behaves like a private club more than an open exchange: little inventory, unhurried sellers, and consistent premiums for anything within a stroll of the Village Green.

One Causeway In

Everything reaches the Key over the Rickenbacker Causeway, which arcs across the bay with the skyline framed dead ahead — Brickell in about fifteen minutes when traffic cooperates, the airport in roughly thirty-five. On the island, Crandon Boulevard sets a bicycle-and-golf-cart pace, and the causeway itself is the region's iconic cycling climb and triathlon course. Virginia Key, the stepping-stone island before the mainland, adds the MAST Academy campus, the historic marine stadium basin and a surprising network of mountain-bike trails to the daily geography.

Buying a Home in Key Biscayne

Buying in Key Biscayne starts with understanding what drives its market: ordinance-capped condos on a parkland island. Benchmark the segment you're shopping with the bedroom and property-type tables above, then open the live map search to see everything currently available — every listing links straight to full photos, details and an inquiry line to a licensed Florida broker.

Financed purchases in South Florida typically close in 30–45 days, while cash can close in as little as two weeks. Condo purchases usually add an association-approval step, and properties near the water carry insurance considerations worth pricing before you offer — both are routine in Key Biscayne transactions when planned early.

Renting in Key Biscayne

Rentals move faster than sales — well-priced Key Biscayne units are often signed within weeks, and most annual leases require first month, last month and a security deposit up front. The rent tables above show what tenants actually committed to by bedroom count over the last year; the live rental search shows every home and condo currently offered.

Featured Listings in Key Biscayne

See every home for sale →

Things to Do & Places to See in Key Biscayne

Bill Baggs Cape Florida State Park

The island's protected southern end — a nationally ranked beach and the 1825 lighthouse, the county's oldest standing structure.

Crandon Park

A long crescent of shallow, family-friendly beach with cabanas, a marina and a nature center at the island's north end.

Crandon Golf Key Biscayne

The county's bayside championship course, complete with resident iguanas and skyline views.

Crandon Park Tennis Center

The former home of the Miami Open, now the village's public tennis campus.

The Village Green

Playgrounds, the dog park, the farmers market and most of the island's civic calendar in one place.

Rickenbacker Causeway

The region's most scenic stretch of road — a mecca for cyclists and the island's window on the skyline.

Marjory Stoneman Douglas Biscayne Nature Center

Seagrass wading expeditions and marine education inside Crandon Park.

Hobie Beach

The causeway's calm-water flats, the local classroom for windsurfing, kiting and paddling.

Dining in Key Biscayne

The Rusty Pelican

Half a century of sunset dinners over the bay with the skyline as the second course.

Boater's Grill

Cuban seafood on the water inside the state park, reachable by boat, bike or beach walk.

La Boulangerie Boul'Mich

The French-Argentine bakery that functions as the village's morning headquarters.

Costa Med

The island's polished Mediterranean dining room, tucked into the Galleria.

Milanezza

Milanesas and a lively terrace — the Argentine-Italian neighborhood kitchen on Crandon.

The Golden Hog

The gourmet grocer whose prepared counters quietly cater half the island's dinners.

Lighthouse Café

Beachside plates at the foot of the lighthouse inside Bill Baggs.

Schools in Key Biscayne

Key Biscayne K-8 Center
Public

The island's A-rated public school beside the Village Green.

MAST Academy
Public

The maritime-science magnet on Virginia Key, effectively the island's hometown high school.

St. Agnes Academy
Private

The island's Catholic PK-8, a village fixture for generations.

Key Biscayne Presbyterian School
Private

The island's long-standing early-childhood program.

Coconut Grove independents
Private

Ransom Everglades, Carrollton and Gulliver all lie one causeway away — a quiet pillar of the island's family demand.

School attendance boundaries change — always verify a specific address's assigned schools with Miami-Dade County Public Schools (or the relevant district) and confirm private-school admissions directly before relying on them in a purchase decision.

Condo Neighborhoods in Key Biscayne

Key Biscayne Real Estate FAQ

Is Key Biscayne a good place to buy a home?

Key Biscayne is known for ordinance-capped condos on a parkland island, and that identity anchors long-term demand. Judge the market by the numbers on this page — actual closed sales, the median sale price, and how long homes took to sell over the trailing twelve months.

What is the median home price in Key Biscayne?

The market snapshot above shows the current 12-month median sale price for Key Biscayne, along with price per square foot and medians broken out by bedroom count and property type — all computed from closed MLS sales, refreshed continuously rather than quoted from stale reports.

Should I buy a condo or a house in Key Biscayne?

The property-type table above shows how Key Biscayne sales split between condos, single-family homes and townhomes, and what each segment's median ran over the last year. Condos add monthly association dues and a board-approval step; houses carry their own insurance and maintenance. Every property type has its own live search page linked below.

How do I see every home for sale in Key Biscayne?

Use the Key Biscayne map search — every active MLS listing in the city, updated continuously, with the city boundary drawn on the map and filters for property type, bedrooms and price.

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