Key Biscayne Homes for Sale under $500K

5 listings
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Looking at Key Biscayne Homes for Sale under $500K?

Tell us what you're after — we'll send matching homes, off-market options and recent sales, and set up private showings.

Matthew Gromadzki, Real Estate Broker
Matthew Gromadzki
Real Estate Broker
(786) 370-8570
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Live MLS inventory in Key Biscayne, updated continuously. Florida Lux Real Estate currently tracks 5 active listings here. MLS inventory updated October 13, 2026.

Homes for Sale under $500K in Key Biscayne: What to Know Before You Search

Beyond the Rickenbacker tollgate, tucked between two state parks, Key Biscayne functions as Miami's island village — a K-8 school and streets where children pedal to the beach. Ordinance limits the condo count and no new building has opened since 2014, which means the scarcity driving prices here is entirely real.

Setting the ceiling at $500K turns Key Biscayne into a value hunt — and the value tends to hide in specific corners: an older building whose fees undersell its address, a property type the market keeps overlooking, a block just off the prime grid. Known for a family island village between two state parks, fifteen minutes from Brickell, Key Biscayne always has an under-the-radar pocket, and this page keeps every listing beneath the cap in one place so none of it slips past you.

Key Biscayne Market Snapshot

228
Homes sold, last 12 months
$1.6M
Median sale price
62 days
Median time on market

Frequently Asked Questions

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

The honest inventory is right here, updated continuously, and the mix shifts month to month. As a rule of thumb condos stretch a capped budget furthest, townhomes buy the most space, and houses under a ceiling trade quickest. We'll tell you candidly which listings are priced low for a reason.

What costs sit beyond the price in Key Biscayne?

Budget association dues on condos and townhomes, insurance that shifts with roof age and flood zone, and buyer closing costs of roughly two to three percent. We build a true monthly-cost sheet for any listing before you offer, so your ceiling still holds after closing.

How do I arrange a showing in Key Biscayne?

Each listing on this page carries an inquiry form that goes straight to our brokerage — or reach us at +1 786-370-8570. We schedule private tours to fit your calendar and run live video walkthroughs for buyers relocating from out of state, with no obligation attached.

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