Palmetto Bay, FL

Palmetto Bay, FL

At a Glance

How Palmetto Bay Compares to the U.S. Average

Each bar shows Palmetto Bay's value as a percentage of the national average (100% = U.S. avg)

Is Palmetto Bay a Good Place to Live?

Economy & Jobs

Palmetto Bay residents earn a median household income of $143,368 , which is 91% above the national average of $75,149. Per capita income is $70,583. The unemployment rate stands at 2.3% (36% below the U.S. rate of 3.6%). 5.0% of residents live below the poverty line. The area is home to 123,309 business establishments, including 6,356 restaurants.

Housing & Cost of Living

The median home value in Palmetto Bay is $787,000 , 179% above the national median of $281,900. Zillow estimates the typical home at $2,145,407. Median rent is $1,862/month, with 39.1% of renters spending more than 30% of income on housing. The cost of living index is 103.4 (100 = national average). The median home was built in 1976.

Safety & Crime

Palmetto Bay reports 174 violent crimes per 100,000 residents , which is 54% below the national average of 380/100K. Property crime is 2,624/100K. The murder rate is 0.0/100K.

Education

61.5% of adults in Palmetto Bay hold a bachelor's degree or higher (82% above the national average). 94.6% have completed high school. Local schools score 5.7/10 in standardized testing.

Climate & Weather

Palmetto Bay has an average annual temperature of 77°F (25°C). Winters average 69°F in January while summers reach 84°F in July. The area gets 330 sunny days per year. Annual precipitation totals 51.0 inches. Air quality is rated Good with a median AQI of 41.

Data Overview

Did You Know?