Key Biscayne's typical home is worth $1,708,156, placing the island 14th among Florida's most expensive housing markets in a statewide analysis published Thursday, Sept. 17.

The ranking, compiled by Stacker using Zillow Home Values Index data as of August 2026, shows island home values climbed 6.5% over the past year. Over five years, they rose 37.5%.

Island values far outpace national trend

That five-year gain dwarfs the national picture. The typical U.S. home was worth $369,678 in August, up just 1.3% year over year, according to the same Zillow data. Key Biscayne's typical value is roughly 4.6 times the national figure.

Miami metro dominates statewide rankings

Key Biscayne sits in the Miami-Fort Lauderdale-Pompano Beach metro area, which dominated the list. Sixteen of Florida's 30 priciest cities belong to the metro, more than any other region in the state. The next-closest metro, Key West, placed four cities.

Nearby cities also rank among priciest

Several familiar neighbors landed nearby on the ranking. Coral Gables came in at No. 15, with a typical value of $1,558,867, a one-year gain of 6.9% and a five-year gain of 63.6%. Pinecrest placed 10th, at $2,212,376, up 5.6% over one year and 71.1% over five. Bal Harbour ranked 12th, at $1,944,949.

Jupiter Island topped the entire list at $10,139,628.

High mortgage rates raise cost of buying in

High borrowing costs add pressure for buyers eyeing the island. The 30-year fixed mortgage rate averaged 6.76% as of Thursday, Sept. 10, according to Freddie Mac. At that rate, a buyer putting 20% down on a $1.7 million home would face a monthly principal-and-interest payment above $8,800.

Broader Miami market shows continued strength

The ranking lands as the broader Miami market shows continued momentum. Islander News posted on X on Aug. 6 that Miami's cost of living had surpassed New York City's. The outlet also noted on Aug. 30 that Miami home sales had surged for an 11th consecutive month, putting 2026 on a record pace.

Stacker did not disclose how many total Florida cities were evaluated or detail the methodology for selecting the top 30. The ranking draws from Zillow's publicly available research data.