It is located in southern Biscayne Bay, just north of Old Rhodes Key and Totten Key, just southeast of the southern tip of Elliott Key, and in between Old Rhodes and Reid Keys. It is on the south side of Caesar Creek, the creek that separates Elliott and Old Rhodes Keys.
It was earlier known as Porgee Key.
Porgy Key was the home for many years of "Sir" Lancelot Jones, a long-time resident. Hurricane Andrew in 1992 destroyed his former residence.
The Bache Coast Survey of 1861 shows Porgee Key. It is also spelled Porgee in a 1920 Smithsonian Institution study of Cerion snails.
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