CensusEasy
CITY

Palmetto Bay

Florida · 24,886 residents (2025 est.) · 8.285 sq mi
Time machine
COMPARE TO
Part of the Miami metro area
Compare
The short version

Palmetto Bay is significantly wealthier than the US average, with a median household income of $142,447. Population has held roughly steady since 2023. 60% of adults hold a bachelor's degree or higher, well above the national rate of 36%. Median home value is $879,700. Poverty is rare here, at 5.8% of residents. It ranks in the top 5% of US cities for household income.

At a glance
Wealthier
above the US median
US median: $82,259
Older
median age 41.0
US median: 38.9
More educated
60% hold a bachelor's degree
US average: 36%
Stable housing
home values roughly flat, inflation adjusted
US median home: $376,019
Section 01

Population & growth

Total population
24,639
+2%since 2023
from 24,247 in 2023
2009 – 2025
Population density
2,974 / sq mi
+2%since 2023
from 2,927 / sq mi in 2023
US average: 281
Median age
41.0
−1%since 2023
from 41.6 in 2023
US average: 38.9

PEP 2025 EST:24,886 residents (Census Bureau Vintage 2025, released March 2026)

Population, 2009 – 2024
23K24K24K24K25K200920202024Palmetto Bay
202425K
200920202024
Section 02

Income & economy

Median household income
$142,447
−3%inflation adjusted, since 2023
from $143,368 in 2023
US average: $82,259
2009 – 2024
Per capita income
$70,313
Unchangedsince 2023
from $70,583 in 2023
US average: $44,673
Households earning $100K+
73.1%
−0.8 ptssince 2023
from 74.0% in 2023
US average: 53.3%
Poverty rate
5.8%
−0.6 ptssince 2023
from 6.4% in 2023
US average: 12.5%
Income inequality (Gini)
0.489
Unchangedsince 2023
from 0.489 in 2023
US average: 0.476
Workforce by industry, 2024
Information12%
US avg: 10.8%
Other services8.8%
US avg: 6.7%
Wholesale trade6.9%
US avg: 6.9%
Retail trade5.8%
US avg: 9.9%
Public administration5.8%
US avg: 4.8%
Finance & insurance4.6%
US avg: 5.9%
Professional, scientific, technical4.3%
US avg: 5.1%
Transportation & warehousing3.1%
US avg: 2.2%
Arts, entertainment, food1.8%
US avg: 1.9%
Education & health services0.3%
US avg: 0.9%
Agriculture, forestry, fishing0.2%
US avg: 1.6%
Construction0.2%
US avg: 1.2%
Manufacturing0%
US avg: 0.4%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$879,700
+9%inflation adjusted, since 2023
from $787,000 in 2023
US average: $376,019
2009 – 2024
Median gross rent
$2,101
+10%inflation adjusted, since 2023
from $1,862 in 2023
US average: $1,442
Owner-occupied
78.2%
−0.8 ptssince 2023
from 79.0% in 2023
21.8% rent
Vacancy rate
6.1%
−1.0 ptssince 2023
from 7.1% in 2023
US average: 10.0%
Owner cost-burdened
26.0%
+0.6 ptssince 2023
from 25.5% in 2023
US average: 22.9%
Renter cost-burdened
66.5%
+4.7 ptssince 2023
from 61.8% in 2023
US average: 47.4%
Afford Score
6.2
+13%since 2023
from 5.5 in 2023
2009 – 2024
Gentrification Score
59
RELATED:See current rent listings in Palmetto Bay on RentDataNow
Section 04

Race & ethnicity

2023
White, non-Hispanic38.9%(9,429)
Black3.8%(929)
Hispanic / Latino48.5%(11,762)
Asian4.4%(1,067)
Other4.4%(1,060)
Diversity Score76%(18,432)
2024
White, non-Hispanic36.3%(8,945)
Black4.3%(1,059)
Hispanic / Latino51.1%(12,594)
Asian4.1%(1,018)
Other4.2%(1,023)
Diversity Score75.2%(18,530)
Diversity Score
75
−1%since 2023
from 76 in 2023
2009 – 2024
Section 05

Education

Bachelor's degree or higher
60.1%
−1.4 ptssince 2023
from 61.5% in 2023
US average: 35.6%
High school or higher
92.9%
−1.6 ptssince 2023
from 94.6% in 2023
US average: 89.6%
Graduate degree
27.0%
−1.5 ptssince 2023
from 28.5% in 2023
US average: 14.0%
Section 06

Commute & transportation

Average commute
35.3 min
−3%since 2023
from 36.4 min in 2023
US average: 26.5
Drive alone to work
60.3%
−2.9 ptssince 2023
from 63.2% in 2023
US average: 68.9%
Carpooled to work
11.2%
+0.9 ptssince 2023
from 10.3% in 2023
US average: 8.5%
Public transit
2.6%
+0.4 ptssince 2023
from 2.2% in 2023
US average: 3.2%
Worked from home
21.2%
+1.6 ptssince 2023
from 19.6% in 2023
US average: 15.0%
Walked to work
1.1%
Unchangedsince 2023
from 1.1% in 2023
US average: 2.4%
Biked to work
0.0%
Unchangedsince 2023
from 0.0% in 2023
US average: 0.4%
No vehicle available
4.8%
−0.3 ptssince 2023
from 5.1% in 2023
US average: 8.3%
Section 07

Work & employment

Unemployment rate
2.7%
−0.7 ptssince 2023
from 3.4% in 2023
US average: 5.2%
Labor force participation
66.9%
−0.2 ptssince 2023
from 67.1% in 2023
US average: 63.5%
Self-employed
13.9%
+1.3 ptssince 2023
from 12.6% in 2023
US average: 13.1%
Management & professional
59.5%
+0.3 ptssince 2023
from 59.3% in 2023
US average: 42.5%
Section 08

People & community

Male
50.7%
−2.2 ptssince 2023
from 52.9% in 2023
Female
49.3%
+2.2 ptssince 2023
from 47.1% in 2023
Foreign born
32.4%
+2.2 ptssince 2023
from 30.2% in 2023
US average: 14.1%
Veterans
4.5%
−0.4 ptssince 2023
from 5.0% in 2023
US average: 6.2%
With a disability
10.2%
+0.6 ptssince 2023
from 9.6% in 2023
US average: 13.3%
Uninsured
4.1%
−0.2 ptssince 2023
from 4.3% in 2023
US average: 8.4%
Broadband at home
94.1%
+1.2 ptssince 2023
from 92.9% in 2023
US average: 91.0%
English only at home
49.2%
−1.7 ptssince 2023
from 51.0% in 2023
US average: 77.7%
Spanish at home
43.3%
+1.7 ptssince 2023
from 41.6% in 2023
US average: 13.6%
Drill deeper

Places similar to Palmetto Bay

Nocatee
Pop 27,442
Fish Hawk
Pop 26,186
Hercules
Pop 26,326
Palm City
Pop 26,371
Places similar to Palmetto Bay
Head to head

Compare Palmetto Bay to nearby cities

PALMETTO BAY VS
Palmetto Estates
Income$82,064−42%
Home value$445,900−49%
Population16,129−35%
SEE FULL COMPARISON →
PALMETTO BAY VS
West Perrine
Income$66,997−53%
Home value$411,500−53%
Population11,162−55%
SEE FULL COMPARISON →
PALMETTO BAY VS
Pinecrest
Income$206,417+45%
Home value$1,406,400+60%
Population18,635−25%
SEE FULL COMPARISON →
PALMETTO BAY VS
Cutler Bay
Income$89,244−37%
Home value$472,700−46%
Population44,750+80%
SEE FULL COMPARISON →
Frequently asked

How many people live in Palmetto Bay, Florida?

Palmetto Bay, Florida has about 24,639 residents according to the 2024 American Community Survey.

What is the median household income in Palmetto Bay, Florida?

The typical household in Palmetto Bay, Florida earns about $142,447 a year. Half of households make more than that, and half make less.

Is Palmetto Bay, Florida expensive?

In Palmetto Bay, Florida, the median home is worth about $879,700, and the typical rent is about $2,101 a month.

How educated are people in Palmetto Bay, Florida?

About 60.1% of adults age 25 and over in Palmetto Bay, Florida hold a bachelor's degree or higher.

What is the poverty rate in Palmetto Bay, Florida?

About 5.8% of people in Palmetto Bay, Florida live below the federal poverty line.

Keep going

Explore from here

Up the hierarchy
Florida
Rankings
Highest income citiesFastest growing citiesMost educated cities
Compare
Compare Palmetto Bay with another place

DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

How we source and harmonize this data →