Palmetto Bay, Village of Palmetto Bay, FL—33158
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palmetto Bay, Village of Palmetto Bay, FL
As of Oct '25, the median home price in Palmetto Bay, Village of Palmetto Bay, FL is $1,308,000, with a year-over-year change of -2.0%. This indicates that home prices in Palmetto Bay, Village of Palmetto Bay, FL are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,308,000 | -2.0% |
| Single Family | $1,272,000 | -2.4% |
| Condos | $1,840,000 | -5.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $1,169,000 | -3.2% |
4 Bed | $1,295,000 | -2.6% |
| 5 Bed | $1,650,000 | -2.5% |
% of Housing Stock
Rental Trends — Palmetto Bay, Village of Palmetto Bay, FL
As of July '25, Rentcast reports the average rent in Palmetto Bay, Village of Palmetto Bay, FL is $6,800, with a year-over-year rent change of -7.0%. Per bedroom, the median rent as of July '25 in Palmetto Bay, Village of Palmetto Bay, FL is 1-bedrooms: $1,600, 3-bedrooms: $5,840, 4-bedrooms: $7,410. The most common rental property sizes in Palmetto Bay, Village of Palmetto Bay, FL are 3-bedroom and 4-bedroom, accounting for 40.4% and 39.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $7,000 | $6,800 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,500 | $1,600 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $6,200 | $5,840 |
| 4 Bed Rent | $7,500 | $7,410 |
% of Rental Stock
Property Listings — Palmetto Bay, Village of Palmetto Bay, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmetto Bay, Village of Palmetto Bay, FL is 93. This is a increase of 23.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,780,000 | -1.0% |
Listing Count | 53 | 29.0% |
| Listings as % of Homes | 1.4% | 29.0% |
Days on Market | 93 | 23.0% |
Demographics — Palmetto Bay, Village of Palmetto Bay, FL
As of the latest ACS Survey released in 2023, Palmetto Bay, Village of Palmetto Bay, FL has a population of 6,030, which has decreased by -9.2% over the past 5 years. Palmetto Bay, Village of Palmetto Bay, FL is a popular place for families, as children make up 25.9% of the population. The area has a highly educated workforce, with 77.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,030 | -9.2% |
% Under 18 | 25.9% | -1.9% |
% Seniors | 21.0% | 18.0% |
% WFH | 18.0% | 221.4% |
% w/ College Degree | 77.3% | 6.0% |
As of the latest ACS Survey released in 2023, Palmetto Bay, Village of Palmetto Bay, FL is a predominantly white area, with 48.7% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Palmetto Bay, Village of Palmetto Bay, FL is hispanic, making up 39.5% of the population. Foreign-born residents account for 26.1% of the population in Palmetto Bay, Village of Palmetto Bay, FL, and this percentage has decreased by 15.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 48.7% | -4.9% |
% Black | 1.4% | -46.2% |
% Hispanic | 39.5% | 1.8% |
% Asian | 6.3% | 31.2% |
% Foreign Born | 26.1% | -15.3% |
Mortgage and Risk — Palmetto Bay, Village of Palmetto Bay, FL
According to HUD data as of 2023, there were 138 mortgage originations in Palmetto Bay, Village of Palmetto Bay, FL, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 42.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Palmetto Bay, Village of Palmetto Bay, FL. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 138 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Palmetto Bay, Village of Palmetto Bay, FL
Palmetto Bay, Village of Palmetto Bay, FL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,340 | $1,500 | $2,840 |
| 2 Bedroom | N/A | N/A | $3,490 |
| 3 Bedroom | -$1,690 | $6,200 | $4,510 |
| 4 Bedroom | -$2,220 | $7,500 | $5,280 |
Affordability — Palmetto Bay, Village of Palmetto Bay, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.4 |
| Median Home Price | $1,308,000 |
| Median Household Income | $180,000 |