Key Biscayne, Florida Short-Term Rental Market
Key Biscayne STRs averaged $282/night at 60.8% occupancy in April 2026, with a mandatory 15-day minimum stay under Village code.
Quick Answer: Key Biscayne, Florida is an active short-term rental market. average occupancy is 59%. average monthly revenue is $4,239. average daily rate is $275. the top operator is Wehost with 505 listings. market score is 55/100 (grade C).
Market data reflects the Miami regional market, which includes Key Biscayne. Regulations, taxes, and permit details below are specific to Key Biscayne.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Key Biscayne is a small island village of roughly 14,791 residents off Miami, accessible via the Rickenbacker Causeway. The STR market here operates under an unusual constraint: Village Code Sec. 7-31 mandates a 15-continuous-day minimum rental period, which effectively bars nightly and weekend bookings. Despite this restriction, tracked listings in the broader market area recorded an average daily rate of $282 in April 2026 and an occupancy rate of 60.8%, producing a RevPAR of $172.
The listing mix skews heavily toward entire-place rentals, which account for approximately 87.5% of the active inventory (27,301 units). Private rooms represent about 11% (3,434 units), and shared rooms make up the remaining 1.3% (396 units). By bedroom count, one-bedroom units dominate at 18,152, followed by two-bedroom (6,913), three-bedroom (3,058), four-bedroom (1,635), and five-bedroom or larger (1,228). Distribution by channel shows Airbnb leading at 18,560 listings, VRBO at 1,877, and dual-listed properties at 10,694.
Year-over-year, occupancy grew 0.76%, ADR rose 1.62%, and average revenue increased 4.22% compared to the same month in the prior year. The market’s overall investment score is 55.1 out of 100, with rental demand scoring highest at 76.0 and revenue growth at 53.8.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 62% | $223 | $3,756 |
| Feb | 71% | $236 | $4,183 |
| Mar | 71% | $254 | $4,930 |
| Apr | 58% | $227 | $3,835 |
| May | 59% | $219 | $3,553 |
| Jun | 58% | $205 | $3,218 |
| Jul | 62% | $197 | $3,254 |
| Aug | 56% | $176 | $2,840 |
| Sep | 53% | $170 | $2,496 |
| Oct | 57% | $177 | $2,761 |
| Nov | 58% | $181 | $2,783 |
| Dec | 64% | $241 | $3,904 |
Top Short-Term Rental Operators in Key Biscayne
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Wehost | 505 | 6,443 | ★ 4.30 |
| 2 | Nomada Residences | 363 | 9,346 | ★ 4.75 |
| 3 | Miami Vacation Rentals | 353 | 19,593 | ★ 4.75 |
| 4 | Roami | 345 | 9,005 | ★ 4.59 |
| 5 | Stay Sol | 224 | 1,837 | ★ 4.19 |
What Kind of STR Should I Buy in Key Biscayne?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 18,152 |
| 2 bed | 6,913 |
| 3 bed | 3,058 |
| 4 bed | 1,635 |
| 5 bed | 1,228 |
ADR by Property Tier
| Entire Home | $295 |
| Luxury | $558 |
| Professionally Managed | $328 |
Revenue by Dwelling Type
| Apartment | $3,975 |
| Entire Place | $4,559 |
| House | $4,993 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 59.6% |
| vrbo | 6% |
| both | 34.4% |
Investment Analysis
At an average monthly revenue of $4,881 in April 2026 and a typical home value of $1,648,943, the implied gross yield for a Key Biscayne STR is approximately 3.6% on an annualized basis ($4,881 per month times 12 equals $58,572 annually divided by $1,648,943). That is a thin return relative to national STR benchmarks, and it comes before operating costs, management fees, and taxes.
Tier differentials are significant. Entire-home ADR averages $302 versus the all-listings rate of $282, and luxury-tier listings average $599 per night, more than double the market average. Professionally managed listings average $356 per night, a 26% premium over unmanaged inventory.
The 15-day minimum stay rule is the central investment constraint. It eliminates the nightly-rental pricing power that most STR investors rely on, reduces turnover revenue, and limits the pool of eligible guests to those booking longer stays. Investors considering Key Biscayne should verify that their specific unit’s condominium documents do not impose an even stricter minimum before acquiring.
For investors seeking higher-yield STR exposure in the Miami area, comparable markets without the minimum-stay restriction typically produce meaningfully better annualized returns. The median list price of $1,733,333 and limited inventory of 155 active for-sale listings underscore the high entry cost.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Guests booking Key Biscayne STRs plan ahead: average booking lead time is 36 days. Combined with the mandatory 15-day minimum stay under Village code, this means operators need to fill relatively long windows and typically see bookings confirmed roughly five weeks before arrival.
Average length of stay is 4.08 nights across the tracked dataset, though the local 15-day minimum rule means compliant Key Biscayne listings specifically should not be seeing stays shorter than 15 days. Operators with compliant listings should price their 15-day windows accordingly, likely as a flat-rate block rather than nightly, and build cancellation policies that account for the longer committed period.
The 36-day lead time suggests guests are planful rather than spontaneous. Dynamic pricing adjustments made less than three to four weeks out will have limited impact on fill rates. Rate-setting for peak weeks in February and March should be locked in by mid-January to capture the planning window.
Short-Term Rental Regulations
Key Biscayne permits STRs but imposes one of the most restrictive minimum-stay rules in Florida: a 15-continuous-day minimum rental period under Village Code Sec. 7-31, enacted in 2011 and actively enforced since fall 2024. This rule eliminates standard nightly bookings and weekend rentals.
Every operator must hold three documents: a Village Local Business Tax Receipt (BTR, approximately $115.76 annually), a Certificate of Use (approximately $120 one-time), and a Florida Department of Business and Professional Regulation (DBPR) Vacation Rental license. A Fire Inspection (approximately $75 one-time) is also required. Total initial cost is approximately $310.76 per the Village’s published schedule.
Where a condominium’s governing documents impose a minimum longer than 15 days, the condo rules control. There is no owner-occupancy requirement and no annual night cap.
The combined lodging tax is 12%: 6% Florida state sales tax plus 6% Miami-Dade County tax (3% Convention Development, 2% Tourist Development, 1% Sports Franchise).
Enforcement is aggressive. The Village spends approximately $20,000 per year on a listing-scraping service to identify unlicensed operators, issues Civil Violation Notices, and levies $250 per day fines. Active enforcement began September 16, 2024, with fines starting October 14, 2024. An estimated 200 or more listings were non-compliant at enforcement launch. As of mid-2025, most operators reportedly comply.
Market Comparison
Key Biscayne’s April 2026 ADR of $282 is well above the national STR median of approximately $220, reflecting the island’s affluent positioning. Its 60.8% occupancy is slightly above the national median of approximately 55%, though the 15-day minimum stay constraint limits the true comparability of that figure to unrestricted markets.
The market’s total investment score of 55.1 sits near the median range nationally, dragged down by a regulation score of 60.5 (reflecting the 15-day rule and strict enforcement) and a revenue growth score of 53.8, despite strong rental demand of 76.0 and investability of 69.2.
The professional management sector is well-developed. Wehost leads with 505 listings and a 4.30 average guest rating across 6,443 reviews. Nomada Residences manages 363 listings with a 4.75 rating (9,346 reviews), and Miami Vacation Rentals holds 353 listings with a 4.75 rating across 19,593 reviews. Roami manages 345 listings (4.59 rating, 9,005 reviews). Together the top four operators account for over 1,500 listings, indicating a market with meaningful institutional management presence.
Frequently Asked Questions About Key Biscayne, Florida
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