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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
Housing Overview
Median Home Value
$787,000
179% above
US avg: $281,900
Median Rent
$1,862/mo
60% above
US avg: $1,163/mo
Homeownership Rate
79.0%
21% above US avg (65.4%)
Total Housing Units
8,718
Median year built: 1976
Home Value by Source
Census Median
$787,000
Zillow (ZHVI)
$2,145,407
Median Sale Price
$1,050,000
Median List Price
$1,395,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
79.0%
Owner-Occupied
21.0%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,212/mo
1 Bedroom
$1,296/mo
2 Bedroom
$1,526/mo
3 Bedroom
$1,971/mo
4 Bedroom
$2,261/mo
Census median rent:
$1,862/mo
Market Indicators (Redfin)
Median Days on Market
129 days
Sale-to-List Ratio
0.9%
Buyers market
Homes Sold
25
Price Drops
14.1%
of listings with price reduction
Price Per Sq Ft
$476
Active Inventory
142
homes for sale
Affordability & Housing Stock
Rent Burden
39.1%
of renters spending 30%+ of income on housing
26% above US avg (31.0%)
Median Year Built
1976
Average age of housing stock: 50 years
Homeownership Rate
79.0%
Complete Housing Data
Home Values
| Census Median Value | $787,000 |
| Zillow Home Value (ZHVI) | $2,145,407 |
| Median Sale Price | $1,050,000 |
| Median List Price | $1,395,000 |
| Price Per Sq Ft | $476 |
Rent
| Census Median Rent | $1,862 |
| FMR Studio | $1,212 |
| FMR 1-Bedroom | $1,296 |
| FMR 2-Bedroom | $1,526 |
| FMR 3-Bedroom | $1,971 |
| FMR 4-Bedroom | $2,261 |
Market
| Days on Market | 129 |
| Sale-to-List Ratio | 0.9% |
| Price Drops | 14.1% |
| Homes Sold | 25 |
| Active Inventory | 142 |
| Price Per Sq Ft | $476 |
Ownership & Stock
| Owner-Occupied | 79.0% |
| Renter-Occupied | 21.0% |
| Homeownership Rate | 79.0% |
| Total Housing Units | 8,718 |
| Median Year Built | 1976 |
| Rent Burden | 39.1% |