With home values increasing 31 percent over 5-years, Key Biscayne now among the most expensive cities in Florida

Ever wonder where your neighborhood ranks among the most expensive homes in Florida?

Key Biscayne is right in the hunt when it comes to typical home values.

Data-driven Stacker compiled a list of cities with the most expensive homes in Florida using statistical information from Zillow and its Homes Values Index for August 2022, the latest data provided.

Key Biscayne ranks 16th in the state with a typical home value of $1,697,830, which reflects a 32.6% increase from the previous year and 31.3% bump over the past five years.

The most expensive city on the list, Jupiter Island, has a typical home value of $8,453,650, which is 1,985% higher than the state average of $405,489.

The Miami-Fort Lauderdale-Pompano Beach metro area contains 15 of the top 30 “most expensive homes” cities list.

Key Biscayne’s 33149 vicinity also ranks fourth among Zip codes in the state, in the latest figures published earlier this year reflecting a 301% higher average than Florida’s typical home value.

Pictured in that report was a six-bedroom home at 400 S. Mashta Drive, then valued at $35 million. The property, according to realtor.com, was last sold in 2001 for $3.6 million.

The most expensive Zip code in Florida’s is 33109, in neighboring Fisher Island in Miami-Dade County. The average home value in this community is $3,351,865. Nearly 400 people live on the island.

Incidentally, the state’s most expensive home, according to a 2021 compilation by Realtor.com is an oceanfront lot in Palm Beach that sold for $37 million in 2017 and now boasts a brand-new home that was listed for $140 million.

That mansion, more than 21,000 square feet, toppled the long reign of the $115 million Ziff family compound in nearby Manalapan.