| Index | Key Biscayne | Florida | National |
| Cost of living | 269 | 102 | 100 |
| Groceries | 106 | 102 | 100 |
| Health care | 110 | 104 | 100 |
| Housing | 638 | 97 | 100 |
| Transportation | 107 | 103 | 100 |
| Utilities | 121 | 110 | 100 |
| Lifestyle & Entertainment | 119 | 104 | 100 |
| Household Items | 105 | 102 | 100 |
| Education & Childcare | 122 | 106 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Key Biscayne? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Key Biscayne stands at 269, making it 169% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Key Biscayne is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Key Biscayne falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a major factor in the Key Biscayne cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 537.9% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 7 locals to understand their opinions on the cost of living in Key Biscayne. The results indicated that 43% found it reasonably priced with decreasing prices of goods and services, while 57% viewed it as quite expensive, with increasing prices.
Is Key Biscayne affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Key Biscayne, for instance, where the median home price falls 697.4% higher than the national average, and monthly rent rates are 165.7% higher than usual. Additionally, median income levels contribute to the equation, with Key Biscayne flaunting a median household income of $250,720, 208.3% higher than the national norm.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Key Biscayne, healthcare costs are 9.7% higher than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Key Biscayne, the transportation index stands at 6.6% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Key Biscayne, the groceries index is 5.8% higher than the national average.
The Key Biscayne cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Health care index | |
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $296,233 | $24,686 | $6,912 | $8,888 |
| Renters | $140,056 | $11,671 | $3,268 | $4,202 |
| State | General Sales Tax | With Max Surtax |
| Florida | 6% | 7.5% |
| State | Income Tax (Low) | Income Tax (High) |
| Florida | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Homestead Base, FL | 748 | 105 | 4.9% |
| Medley, FL | 1,076 | 89 | 10.7% |
| Gladeview, FL | 13,938 | 99 | 1.4% |
| Opa-locka, FL | 16,610 | 101 | 1.2% |
| West Little River, FL | 33,229 | 104 | 3.6% |
| Key Biscayne, FL | 13,140 | 269 | 169.5% |
| City | Population | Cost of Living Index | National Avg. |
| St. Ann, MO | 13,143 | 86 | 14.1% |
| Greenville, OH | 13,135 | 85 | 14.6% |
| Martinsville, VA | 13,146 | 88 | 12.4% |
| Clarkston, GA | 13,147 | 97 | 3.3% |
| Meadville, PA | 13,127 | 90 | 10.3% |
| Key Biscayne, FL | 13,140 | 269 | 169.5% |
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