The present work uses higher-order shear deformation theory to investigate the propagation behavior of a functionally graded poroelastic biocomposite (FGPB) beam placed on an elastic medium. Titanium-hydroxyapatite and gold-hydroxyapatite alloy were used as ingredients for two biocomposites. It is assumed that the structure is supported by an elastic medium. An improved power-law homogenization scheme that calculates porosity is used to compute the effective material characteristics of the FGPB beam. The result showed that the wave number, porosity coefficients, and Winkler–Pasternak parameters have an increasing role in the wave frequency and phase speed of both biocomposites. The power index also presented different behaviors in two biocomposites. Emphasizing the theoretical analysis, the current study shows how the change in the distribution patterns of the elastic medium and the amount of porosity can affect the performance and efficiency of biocomposites. These findings can be effective in designing and optimizing biocomposite materials with desirable mechanical properties and various applications in bioengineering and composite materials.