What is the median rent in Palmetto Bay, FL?

Name: Median rent in Palmetto Bay, FL, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The median gross rent in Palmetto Bay, FL is $2,101 (±$274) a month, according to the US Census Bureau’s 2020–2024 American Community Survey.

That is across 1,712 rented homes; gross rent is the contract rent plus the utilities and fuels a renter pays separately.

In Palmetto Bay, the median gross rent went from $1,426 in 2015–2019 to $2,101 in 2020–2024 (+47.3%).

Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.

Figures last updated on November 12, 2026.

Median gross rent: $2,101 (±$274)
Rented homes: 1,712 (±344)
$2,000 or more: 53.9%
Since 2015–2019: +47.3%

How much rent costs in Palmetto Bay

Share of rented homes in each gross-rent range, 2020–2024
Monthly gross rent	Palmetto Bay	Miami-Dade County	Florida	United States
Less than $500	0.7% (±1.1 points)	5.7%	3.6%	6.3%
$500 to $999	2.8% (±3.7 points)	6.3%	10.7%	20.2%
$1,000 to $1,499	18.5% (±6.9 points)	19.0%	26.0%	28.1%
$1,500 to $1,999	24.1% (±14.1 points)	28.8%	28.8%	21.1%
$2,000 to $2,499	19.7% (±9.0 points)	19.5%	17.4%	12.0%
$2,500 to $2,999	11.7% (±6.8 points)	9.9%	7.2%	5.5%
$3,000 or more	22.5% (±7.3 points)	10.8%	6.3%	6.8%

The most common range is $1,500 to $1,999, paid by 24.1% of renting households.

53.9% of rented homes in Palmetto Bay cost $2,000 or more a month.

Palmetto Bay against Miami-Dade County, its state and the nation

Estimate (90% margin of error)
	Palmetto Bay	Miami-Dade County	Florida	United States
Median gross rent	$2,101 (±$274)	$1,829 (±$10)	$1,669 (±$5)	$1,413
Rented homes paying rent	1,712 (±344)	451,853 (±5,202)	2,716,443 (±16,958)	42,849,984

In Palmetto Bay, median gross rent is not measurably different from Miami-Dade County ($1,829).

It is also higher than in Florida ($1,669).

It is higher than the national figure ($1,413).

In Miami-Dade County, Palmetto Bay ranks 21 of 66 places with a published estimate, from highest to lowest median gross rent.

Statewide, it ranks 121 of 793.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

How rent in Palmetto Bay has changed since 2015–2019

2015–2019 and 2020–2024 American Community Survey 5-year estimates
	2015–2019	2020–2024	Amount of change	Verdict
Median gross rent	$1,426 (±$86)	$2,101 (±$274)	+47.3%	Up after inflation
Households that rent	19.3% (±2.3 points)	21.8% (±3.7 points)	+2.5 percentage points	Not a measurable change
Rental vacancy rate	7.6% (±5.1 points)	3.3% (±3.5 points)	−4.3 percentage points	Not a measurable change

The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.

Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.

The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.

Median gross rent in places near Palmetto Bay

Nearest places with a published estimate, compared with Palmetto Bay
Place	Distance	Median gross rent	Compared with this place
Palmetto Bay	—	$2,101 (±$274)	—
Palmetto Estates	2.6 mi	$1,948 (±$292)	Not measurably different
West Perrine	3.0 mi	$1,488 (±$153)	Lower
Pinecrest	3.1 mi	$1,946 (±$173)	Not measurably different
Cutler Bay	3.3 mi	$1,978 (±$158)	Not measurably different
Richmond Heights	3.4 mi	$1,801 (±$94)	Lower
Kendall	4.0 mi	$1,905 (±$52)	Not measurably different
South Miami Heights	4.8 mi	$1,605 (±$98)	Lower
Three Lakes	5.3 mi	$2,361 (±$126)	Not measurably different

Nearby places with a measurably lower figure: West Perrine, FL ($1,488), Richmond Heights, FL ($1,801), South Miami Heights, FL ($1,605).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median gross rent across Miami-Dade County, place by place

Rank	Place	Median gross rent
15	North Bay Village	$2,157 (±$107)
16	Olympia Heights	$2,124 (±$583)
17	Miami Lakes	$2,120 (±$93)
18	Sunset	$2,118 (±$158)
19	Ives Estates	$2,110 (±$152)
20	The Crossings	$2,103 (±$218)
21	Palmetto Bay	$2,101 (±$274)
22	Sunny Isles Beach	$2,096 (±$136)
23	Fountainebleau	$2,094 (±$71)
24	El Portal	$2,042 (±$743)
25	Cutler Bay	$1,978 (±$158)
26	Glenvar Heights	$1,973 (±$96)
27	Kendale Lakes	$1,968 (±$100)

Showing 13 of 66 places in Miami-Dade County, ranked from highest to lowest.

Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.

Margins of error are at the 90% confidence level.

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Questions about Palmetto Bay

What is the average rent in Palmetto Bay, FL?

The Census Bureau publishes the median rather than the average: the median gross rent in Palmetto Bay is $2,101 (±$274) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.

How much has rent gone up in Palmetto Bay?

In Palmetto Bay, the median gross rent went from $1,426 in 2015–2019 to $2,101 in 2020–2024 (+47.3%).

Prices (CPI-U) rose 22.7% over the same years, so it rose faster than prices: a measurable increase after inflation.

How many rentals in Palmetto Bay cost more than $2,000 a month?

53.9% of rented homes in Palmetto Bay have a gross rent of $2,000 or more a month, and 0.7% cost less than $500.

Is rent in Palmetto Bay higher than in Miami-Dade County?

In Palmetto Bay, median gross rent is not measurably different from Miami-Dade County ($1,829).

It is also higher than in Florida ($1,669).

It is higher than the national figure ($1,413).

Is this the rent for an apartment listed today?

No: these are rents households reported paying across 2020–2024, not asking rents for vacant homes, which usually run higher.

Sources

To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Palmetto Bay village, Florida (place:54275, in state:12).

Each estimate (E or PE) has a margin of error beside it (M or PM).

The 2015–2019 figures are B25064_001E, B25064_001M, DP04_0047PE, DP04_0047PM, DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0134E, DP04_0134M, DP04_0126E, DP04_0126M, DP04_0127PE, DP04_0127PM, DP04_0128PE, DP04_0128PM, DP04_0129PE, DP04_0129PM, DP04_0130PE, DP04_0130PM, DP04_0131PE, DP04_0131PM, DP04_0132PE, DP04_0132PM, DP04_0133PE, DP04_0133PM

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.