Key Biscayne, FL Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Key Biscayne, FL Summary

Cost of living in Key Biscayne research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Key Biscayne is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Key Biscayne is 215, with 100 being the average.

  • The cost of living index in Key Biscayne is 2.1x higher than the national average.

  • Key Biscayne ranks as the #459 cheapest in Florida out of 459.

  • Key Biscayne ranks as the #6,343 cheapest out of 6,412 in the US.

  • The median home value in Key Biscayne is $1,246,700.

  • The median income in Key Biscayne is $167,990.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
215
Key Biscayne's Overall Cost Of Living
2.1x
Higher Than The National Average

What is the cost of living in Key Biscayne, FL?

According to the most recent data on the cost of living, Key Biscayne has an overall cost of living index of 215, which is 2.1x higher than the national index of 100.

Compared to Florida, Key Biscayne has a cost of living index that's 2.1x higher than Florida's index of 101.

The standard of living in Key Biscayne ranks as #459 most affordable out of the 459 places we measured in Florida. By definition, that implies Key Biscayne ranks as the #0 most expensive place in the Sunshine State.

For more reading on life in Key Biscayne, check out:

459 out of 459
In Florida
6,343 out of 6,412
In America

Key Biscayne Cost Of Living Vs. Florida

Six factors go into calculating the cost of living index in Key Biscayne. Here is how it fairs on each of the criteria:

  • The Services index in Key Biscayne is 102.

  • The Groceries index in Key Biscayne is 119.

  • The Health index in Key Biscayne is 104.

  • The Housing index in Key Biscayne is 474.

  • The Transportation index in Key Biscayne is 110.

  • The Utilities index in Key Biscayne is 101.

Living Expense Key Biscayne Florida National Average
Overall 215 101 100
Services 102 98 100
Groceries 119 101 100
Health 104 96 100
Housing 474 108 100
Transportation 110 98 100
Utilities 101 100 100
For more reading on cost of living around Florida, check out:
Key Biscayne Cost of Living Vs. FL

Key Biscayne, FL Housing Cost Breakdown

Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Key Biscayne is $1,246,700.

  • The Median Rent in Key Biscayne is $2,697.

  • The Median Income in Key Biscayne is $167,990.

  • The Home Value To Income in Key Biscayne is 7.4x.

  • The Rent To Monthly Income in Key Biscayne is 0.19x.

Statistic Key Biscayne Florida United States
Median Home Value $1,246,700 $248,700 $244,900
Median Rent $2,697 $1,301 $1,163
Median Income $167,990 $61,777 $69,021
Home Value To Income 7.4x 4.0x 3.5x
Rent To Monthly Income 0.19x 0.25x 0.2x
Search Homes For Sale In Key Biscayne, FL
$1,246,700
Median Home Value
$2,697
Median Rent
$167,990
Median Income

Key Biscayne, FL Costs By Category

Detailed Key Biscayne Services Costs Vs. Florida

Item Key Biscayne Florida
Shampoo $1.11 $1.06
Movie $13.23 $10.68
Bowling $22.13 $14.67
Haircut $14.37 $18.62
Beauty Salon $70.0 $39.05

Detailed Key Biscayne Groceries Costs Vs. Florida

Item Key Biscayne Florida
Ground Beef $4.27 $4.22
Fried Chicken $1.73 $1.39
Milk $3.16 $2.05
Potatoes $3.86 $3.29
Pizza $9.1 $10.62
Beer $10.98 $9.38
Toothpaste $1.87 $2.34

Detailed Key Biscayne Health Costs Vs. Florida

Item Key Biscayne Florida
Optometrist $105.63 $108.57
Doctor $111.06 $116.17
Dentist $107.78 $99.13

Detailed Key Biscayne Transportation Costs Vs. Florida

Item Key Biscayne Florida
Gasoline $2.24 $2.22
Tire Balancing $60.69 $50.07

Detailed Key Biscayne Utilities Costs Vs. Florida

Item Key Biscayne Florida
All Electricity $162.18 $167.67
Phone $188.17 $175.64

Key Biscayne SnackAbility

10
/10
Overall SnackAbility
Jobs
8.5/10
Housing
10
Affordability
5
Diversity
8
Safety
8.5
Amenities
9
Education
10
Commute
6

Cost Of Living In Cities Around Key Biscayne

The cost of living varies in the cities and towns around Key Biscayne. Here's a quick look at the cost of living in the most populous nearby places:

  • Miami, FL has a cost of living index of 111, 0.5x Key Biscayne.

  • Miami Beach, FL has a cost of living index of 132, 0.6x Key Biscayne.

  • Tamiami, FL has a cost of living index of 116, 0.5x Key Biscayne.

City Population Cost Of Living Vs. Key Biscayne
Miami, FL 440,807 111 0.5x
Miami Beach, FL 83,469 132 0.6x
Tamiami, FL 54,525 116 0.5x
Kendale Lakes, FL 53,392 108 0.5x
Coral Gables, FL 49,269 164 0.8x
Richmond West, FL 37,626 117 0.5x
Miami Lakes, FL 30,582 125 0.6x
Coral Terrace, FL 25,869 117 0.5x
The Crossings, FL 22,382 116 0.5x
Country Walk, FL 18,627 122 0.6x

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