Median Income
$144,987
household / year
Median Home Value
$715,700
owner-occupied
Median Rent
$1,728
gross / month
Cost of Living
112
national avg = 100

Is Palmetto Bay, FL a Good Place to Live?

Palmetto Bay is a small city of 24,267 in Florida, with a median household income of $144,987 and a 3.6% unemployment rate. Its cost of living index is 112 (US average = 100), which is 12% above the national average.

Strengths: Palmetto Bay stands out for lower-than-average crime, solid school ratings (A-), a well-educated population.

Trade-offs: Potential downsides include an above-average cost of living, high home prices, longer commutes. Whether Palmetto Bay is right for you depends on your priorities — the full breakdown is below.

All Palmetto Bay city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.

Cost of Living

Index: 111.8

Palmetto Bay's overall cost of living index is 111.8, where 100 represents the US national average. Living in Palmetto Bay costs roughly 12% more than the average American city.

Metric Palmetto Bay, FL National Avg
Median Home Value $715,700 $244,900
Median Monthly Rent $1,728 $1,163
Homeownership Rate 78.2% 65.9%
Median Household Income $144,987 $74,755

Crime & Safety

Safer than Average

Palmetto Bay's violent crime rate is 148.5 per 100,000 residents — 61% lower than the national average of ~380 per 100,000.

Violent Crime
148.5 /100k
Property Crime
2016.9 /100k

Vertical marker = national average. Source: FBI UCR Program.

Schools & Education

Palmetto Bay is served primarily by MIAMI-DADE. The student-to-teacher ratio is 19.4:1 (slightly above the national average of ~16:1).

Metric Palmetto Bay, FL National Avg
School District MIAMI-DADE —
Elementary Schools 288 —
Middle Schools 77 —
High Schools 130 —
Student/Teacher Ratio 19.4:1 16:1
Bachelor's Degree or Higher 62.4% 35.4%
High School Diploma or Higher 95.6% 91.1%

Weather & Climate

Palmetto Bay sees average highs of 74.5°F in January and 88.6°F in July, with 56.8 inches of annual precipitation .

MetricPalmetto Bay, FL
Average High — January74.5°F
Average High — July88.6°F
Annual Precipitation56.8"
Annual SnowfallTrace / None

Demographics

MetricPalmetto Bay, FLNational Avg
Population24,267—
Median Age41.638.9
Unemployment Rate3.6%3.7%
Avg Commute Time36.2 min26 min
White (non-Hispanic)67.0%59.3%
Black or African American3.0%13.6%
Hispanic or Latino22.8%18.9%
Asian3.9%6.3%
Under 1825.6%22.2%
65 and over14.0%16.8%

Nearby Cities

Palmetto Estates, FL 3 mi West Perrine, FL 3 mi Pinecrest, FL 3 mi Cutler Bay, FL 3 mi Richmond Heights, FL 3 mi

ZIP Codes in Palmetto Bay

Palmetto Bay, FL is covered by 2 ZIP codes:

33157 33158

Palmetto Bay vs Other Cities

Palmetto Bay, FL vs Palmetto Estates, FL Palmetto Bay, FL vs West Perrine, FL Palmetto Bay, FL vs Pinecrest, FL Palmetto Bay, FL vs Cutler Bay, FL Palmetto Bay, FL vs Richmond Heights, FL

Frequently Asked Questions

Palmetto Bay's cost of living index is 112, where 100 is the national average. That puts Palmetto Bay roughly 12% above the national average in cost. The median home price is $715,700 and median rent is $1,728/month.
Palmetto Bay's violent crime rate is 148.5 per 100,000 residents — the national average is ~380 per 100,000. Property crime is 2016.9 per 100,000 (national avg ~2,100). Data from the FBI Uniform Crime Reporting Program.
Public schools in Palmetto Bay are operated by MIAMI-DADE. The district has 288 elementary, 77 middle, and 130 high schools. The student-to-teacher ratio is 19.4:1. 62.4% of adults 25+ hold a bachelor's degree or higher.
Palmetto Bay, FL has a population of 24,267, a median household income of $144,987, and an unemployment rate of 3.6%. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Palmetto Bay averages 74.5°F in January and 88.6°F in July. Annual rainfall is 56.8 inches . Based on NOAA 30-year climate normals (1991–2020).
Palmetto Bay, FL is covered by 2 ZIP codes: 33157, 33158.
The population of Palmetto Bay, Florida is 24,267 with a median age of 41.6. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Palmetto Bay: cost of living index 112 (100 = US average), median home $715,700, median household income $144,987, crime index 62 (100 = US average, lower is safer), schools rated A-. Whether these are benefits or drawbacks depends on where you're coming from — compare Palmetto Bay side by side with your current city to see the trade-offs.