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Affordable
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These days, finding an affordable place to live in the Palmetto Bay area can be challenging. Home prices in Palmetto Bay are now at a median cost of $857,413, higher than the Florida average of $396,783.
The average cost of rent is $2,321/mo in Palmetto Bay, primarily driven by the current value of real estate in the Palmetto Bay area. In Palmetto Bay, 19.61% of households rent, and 37.66% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palmetto Bay is $13,535 per month. Households that rent pay about 17.15% of their income on rent here. Palmetto Bay’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Palmetto Estates, FL: less expensive homes
- West Perrine, FL: less expensive homes
- Richmond Heights, FL: less expensive homes
- Cutler Bay, FL: less expensive homes
- Perrine, FL: less expensive homes
- Pinecrest, FL: higher priced homes
- South Miami Heights, FL: less expensive homes
- Kendall, FL: less expensive homes
- Three Lakes, FL: less expensive homes
- Goulds, FL: less expensive homes
Cities with Similar Populations
- American Canyon, CA: less expensive homes
- New Brighton, MN: less expensive homes
- North Salt Lake, UT: less expensive homes
- North Lynnwood, WA: less expensive homes
- North Liberty, IA: less expensive homes
- North Kingstown, RI: less expensive homes
- Nogales, AZ: less expensive homes
- Nipomo, CA: equally priced homes
- Newton, MA: higher priced homes
- New Philadelphia, OH: less expensive homes
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