MIAMI LUXHomes

Homes for Sale under $500K in Key Biscayne, Florida

5 listings

Newest arrivals first — every matching home in Key Biscayne, refreshed as listings hit the market.

Homes for Sale under $500K in Key Biscayne — A Local's Guide

Key Biscayne is Miami's island village — past the Rickenbacker tollgate, between two state parks, with a K-8 school and streets where kids bike to the beach. Condo supply is capped by ordinance and the last new building arrived in 2014, so the market trades on genuine scarcity.

Capping the search at $500K turns the Key Biscayne market into a value hunt — and value here hides in specific pockets: an older building with fees that undersell its location, a property type the market overlooks, a block one street off the prime grid. Known for a family island village between two state parks, fifteen minutes from Brickell, Key Biscayne always has a below-the-radar corner; this page keeps every listing under the cap in one view so it can't hide.

Key Biscayne Market Snapshot

230
Homes sold, last 12 months
$1.6M
Median sale price
61 days
Median time on market

Frequently Asked Questions

What can I actually buy in Key Biscayne under $500K?

The honest inventory is on this page, updated continuously — and the mix shifts month to month. As a rule, condos stretch a capped budget furthest, townhomes buy space, and houses under a cap trade fastest. We'll tell you plainly which listings are priced low for a reason.

Are there hidden costs beyond the price in Key Biscayne?

Budget association fees on condos and townhomes, insurance that varies with roof age and flood zone, and Florida's closing costs of roughly two to three percent for buyers. We produce a true monthly-cost sheet for any listing before you offer, so the cap holds after closing too.

How do I tour a home in Key Biscayne?

Every listing on this page has an inquiry form that reaches the broker directly — or call +1 786-370-8570. We arrange private showings around your schedule, including video tours for out-of-town buyers, and there is never an obligation.

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