Rents are right about where Key Biscayne's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $7,716 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
March. Asking rents in Key Biscayne usually run 0.9% below trend in March and 0.4% above it in July, about $100 a month apart at today's median. Based on 5 years of data.
Rent in Key Biscayne is at its highest level since Zillow's records here began in June 2021.
Rent in Key Biscayne changed +8.7% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
Rent has risen 3 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($181,505) is $4,538 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($4,510); a 4-bedroom is $5,280.
Miami, 3 miles away, rents for 62% less ($2,965/mo), about $57,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Key Biscayne. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Key Biscayne, FL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 77.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Key Biscayne, FL has changed in 5 years
The median rent in Key Biscayne, FL stood at $6,633 in 2022 and currently runs about $7,716, reflecting a 16.3% increase over the period. Census figures show median household income at $181,505 today, compared with $167,990 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.8% since 2021, moving from about 14,530 residents to roughly 14,791. Renters now make up 33.4% of households, compared with 30.9% five years ago. College-educated residents now make up 77.2% of adults here, versus 73.7% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.
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Can you afford rent in Key Biscayne on your salary?
At $7,716/mo, how Key Biscayne rent compares to typical pay (30% rule).
Key Biscayne rent by bedroom count
Median rent for each apartment size in Key Biscayne. Click any size for full breakdown.
Tips for renters in Key Biscayne
Last updated: October 17, 2026
The median rent in Key Biscayne is $7,716/mo as of October 2026. A studio apartment averages $2,560/mo while a 2-bedroom runs $3,490/mo. One-bedroom apartments average $2,840/mo and 3-bedroom units go for $4,510/mo.
At 51% of local median household income ($181,505/yr), Key Biscayne ranks as expensive compared to the national benchmark of 30%. Rents have increased 8.7% over the past year.
Frequently asked questions
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Is rent going up or down in Key Biscayne?
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Which nearby cities are cheaper to rent in than Key Biscayne?
At $7,716/mo, rent takes ~51% of Key Biscayne's median household income ($181,505/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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