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Palmetto Bay, FL
Full City Profile · Florida · Miami-Dade County County
3.6
/5.0
B+
Good
24,247
Population
2,925/sq mi density
$143,368
Median Income
$70,583 per capita
$787,000
Home Value
$2,145,407 Zillow
$1,862
Median Rent
39.1% income on rent
77°F
Avg Temperature
330 sunny days/yr
174
Violent Crime/100K
2,624 property/100K
B+
Overall
3.6 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
5.0 / 5.0
$143,368 median income, 2.3% unemployment
B+
Affordability
3.6 / 5.0
$787,000 home value, $1,862/mo rent
F
Safety
1.0 / 5.0
174 violent crimes/100K
A+
Education
5.0 / 5.0
61.5% bachelor's degree or higher
Income Overview
Median Household Income
$143,368
91% above
US avg: $75,149
Per Capita Income
$70,583
81% above
US avg: $39,052
Unemployment Rate
2.3%
36% below
US avg: 3.6%
Poverty Rate
5.0%
60% below
US avg: 12.4%
Income Comparison: Palmetto Bay vs. U.S. Average
Each bar shows Palmetto Bay’s value as a percentage of the national average (100% line = U.S. avg)
Median Household
US: $75,149
$143,368
191%
Per Capita
US: $39,052
$70,583
181%
IRS Avg AGI
US: $72,000
$111,222
154%
Avg Weekly Wage
US: $1,432
$1,492
104%
Thin line = U.S. average (100%)
Employment & Commute
Avg Weekly Wage
$1,492
4% above US avg ($1,432)
Mean Commute Time
36 min
32% above US avg (28 min)
Work From Home
19.6%
29% above US avg (15.2%)
Drive Alone
63.2%
14% below US avg (73.2%)
Public Transit
2.2%
56% below US avg (5.0%)
County GDP
$260,837M
County-level GDP (BEA 2024)
How Residents Get to Work
Drive Alone
63.2%
Public Transit
2.2%
Work From Home
19.6%
Other
15%
Average commute time
36 minutes
US avg: 28 min
Business Landscape
Total Establishments
123,309
Restaurants
6,356
Healthcare
11,061
Retail
10,749
Manufacturing
2,137
Tax & Financial
IRS Avg Adjusted Gross Income
$111,222
54% above US avg ($72,000)
Avg Property Tax
$12,130
247% above US avg ($3,500)
Cost of Living Index
103.4
Above national average (100 = US avg)
Complete Economy Data
Income & Wages
| Median Household Income | $143,368 |
| Per Capita Income | $70,583 |
| IRS Avg Adjusted Gross Income | $111,222 |
| Avg Weekly Wage | $1,492 |
| County GDP | $260,837M |
Hardship Indicators
| Unemployment Rate | 2.3% |
| Poverty Rate | 5.0% |
| Gini Coefficient | 0.516 |
| Cost of Living Index | 103.4 |
Commute
| Mean Commute | 36 minutes |
| Drive Alone | 63.2% |
| Public Transit | 2.2% |
| Work From Home | 19.6% |
Businesses
| Total Establishments | 123,309 |
| Restaurants | 6,356 |
| Healthcare | 11,061 |
| Retail | 10,749 |
| Manufacturing | 2,137 |
Tax
| IRS Avg AGI | $111,222 |
| Avg Property Tax | $12,130 |