How much does it cost to rent in Key Biscayne, FL?

As of July 2026, the median monthly rent in Key Biscayne, FL is $7,692. This figure is based on aggregated data from public sources and community-submitted rents.

Is Key Biscayne cheaper than other Florida cities?

Key Biscayne is one of the pricier cities in Florida, ranking #3 out of 288 cities tracked at $7,692/mo.

When was Key Biscayne rent data last updated?

Key Biscayne rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · FL

Key Biscayne

Name: Average Rent Prices in Key Biscayne, FL
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 14,791·3rd most expensive in Florida·Key Biscayne rents are up 8.4% over the past year

Median rent (all units)

$7,692/mo

Year-over-Year

+8.4%

Month-over-Month

-10.1%

vs US Median

+$5,727

Falling (Monthly)

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Most AffordableMost Expensive

Key Biscayne · $7,692

More expensive than 100% of US cities · National median $1,965/mo

Rent Reality Score

55/100

Fairly priced

OverheatedFairGreat value

Rents are 3% below what Key Biscayne's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$7,692/mo

Expected by trend

$7,906/mo

The Rent Reality Score compares today's median rent to where Key Biscayne's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$2,560

1 BR

$2,840

2 BR

$3,490

3 BR

$4,510

4 BR+

$5,280

Research median

$3,490/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$92,304/yr

At $7,692/mo median

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 8.4% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (+8.4% YoY, -10.1% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population

14,791

Median income

$181,505

Median age

42.2

Renters

33.4%

Age distribution

31.8%

31.5%

15.7%

Under 1831.8%

18–3410.6%

35–5431.5%

55–6410.5%

65+15.7%

Gender

49.9%

50.1%

Male49.9%

Female50.1%

Race & ethnicity

36.6%

70.3%

White36.6%

Black0.8%

Hispanic70.3%

Education (25+)

12.7%

77.2%

No HS diploma3.9%

HS diploma6.2%

Some college12.7%

Bachelor's+77.2%

Housing tenure

66.6%

33.4%

Owner66.6%

Renter33.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Key Biscayne, FL has changed in 5 years

Rent

$7,124 → $7,692

up 8.0%

Income

$167,990 → $181,505

up 8.0%

Population

14,530 → 14,791

up 1.8%

Renter share

30.9% → 33.4%

+2.5 pts

Bachelor's+

73.7% → 77.2%

+3.5 pts

Median age

41.7 → 42.2

+0.5 yrs

The median rent in Key Biscayne, FL stood at $7,124 in 2022 and currently runs about $7,692, reflecting a 8.0% increase over the period. Census figures show median household income at $181,505 today, compared with $167,990 five years earlier. 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.

Community

Discussions about Key Biscayne

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View Key Biscayne rent history (2015–2026) →

Salary vs rent

Can you afford rent in Key Biscayne on your salary?

At $7,692/mo, how Key Biscayne rent compares to typical pay (30% rule).

Registered Nurse

Avg $87,866/yr · Rent = 105.1% income

severely rent-burdened

Elementary School Teacher

Avg $62,384/yr · Rent = 148% income

severely rent-burdened

Police Officer

Avg $71,861/yr · Rent = 128.4% income

severely rent-burdened

Software Developer

Avg $128,442/yr · Rent = 71.9% income

severely rent-burdened

Lawyer

Avg $164,117/yr · Rent = 56.2% income

severely rent-burdened

Firefighter

Avg $58,413/yr · Rent = 158% income

severely rent-burdened

Truck Driver

Avg $52,740/yr · Rent = 175% income

severely rent-burdened

Electrician

Avg $65,007/yr · Rent = 142% income

severely rent-burdened

By apartment size

Key Biscayne rent by bedroom count

Median rent for each apartment size in Key Biscayne. Click any size for full breakdown.

Local insights

Tips for renters in Key Biscayne

About renting in Key Biscayne, FL

Last updated: July 20, 2026

The median rent in Key Biscayne is $7,692/mo as of July 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 8.4% over the past year.

FAQ

Frequently asked questions

Is Key Biscayne an affordable city for renters?

Key Biscayne is considered expensive for renters. At $7,692/mo, rent takes approximately 51% of the local median household income ($181,505/yr). The standard benchmark is 30%. Key Biscayne significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Key Biscayne?

To keep rent at or below 30% of gross income, you would need to earn at least $308,000/year (~$148/hour full-time) to afford the median rent of $7,692/mo in Key Biscayne. The local median household income is $181,505/yr, meaning the typical Key Biscayne household falls short of that threshold.

Is rent going up or down in Key Biscayne?

Rent in Key Biscayne has increased 8.4% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Key Biscayne rent compare to other cities in Florida?

Key Biscayne is one of the pricier cities in Florida for rent, ranking #3 out of 288 tracked cities at $7,692/mo.

Which nearby cities are cheaper to rent in than Key Biscayne?

Several nearby cities have lower median rents than Key Biscayne ($7,692/mo): Brownsville ($2,554/mo), Miami Beach ($2,978/mo), North Bay Village ($3,000/mo).

What percentage of Key Biscayne residents rent vs. own?

According to Census data, approximately 33.4% of Key Biscayne households are renters, while 66.6% are owner-occupied. Key Biscayne leans toward homeownership, which can mean a smaller rental inventory.

How does Key Biscayne rent compare to the national average?

Key Biscayne's median rent of $7,692/mo is $5,727 (291%) above the US national median of $1,965/mo. Within Florida, it ranks #3 out of 288 tracked cities.

Income Affordability

51%

EXPENSIVE

At $7,692/mo, rent takes ~51% of Key Biscayne's median household income ($181,505/yr). The standard benchmark is 30%.

Key Biscayne 51%Benchmark 30%

State income taxNone

Run the Key Biscayne affordability calculator →

Nearby cities