Palmetto Bay

Population: 24,247
Median household income: $143,368
Median home value: $787,000

Palmetto Bay, a community in Miami-Dade County, Florida, has 24,247 residents. Its median household income of $143,368 runs above the Miami-Dade County figure of $68,694.

Between 2019 and 2023, Palmetto Bay's population held roughly steady from 24,333 to 24,247, while its median home value rose 40.0% from $562,300 to $787,000.

Owners occupy 79.0% of the area's occupied homes. The median resident is 41.6 years old.

Demographics

ACS 2019–2023

Population: 24,247
Median age: 41.6 yrs
Median household income: $143,368
Median home value: $787,000
Median gross rent: $1,862
Housing units: 8,760
Homeownership rate: 79.0%
Bachelor's degree or higher: 61.5%
Unemployment rate: 3.4%

Trends

ACS 5-year · 2019–2023

Population

24,33324,247

Median household income

$123,477$143,368

Median home value

$562,300$787,000

Median gross rent

$1,426$1,862

Year	Population	Median household income	Median home value	Median gross rent
2019	24,333	$123,477	$562,300	$1,426
2020	24,308	$123,235	$585,600	$1,455
2021	24,327	$131,605	$617,900	$1,499
2022	24,267	$144,987	$715,700	$1,728
2023	24,247	$143,368	$787,000	$1,862

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 56.7%

5 to 1718.3%

18 to 246.6%

25 to 3410.3%

35 to 4412.9%

45 to 5414.9%

55 to 6415.8%

65 to 748.1%

75 and over6.5%

	Count	Share
Under 5	1,621	6.7%
5 to 17	4,442	18.3%
18 to 24	1,590	6.6%
25 to 34	2,494	10.3%
35 to 44	3,124	12.9%
45 to 54	3,611	14.9%
55 to 64	3,843	15.8%
65 to 74	1,956	8.1%
75 and over	1,566	6.5%

Race & ethnicity

	Count	Share
White (non-Hispanic)	9,429	38.9%
Black or African American	929	3.8%
American Indian & Alaska Native	0	0.0%
Asian	1,067	4.4%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	264	1.1%
Two or more races	796	3.3%
Hispanic or Latino (any race)	11,762	48.5%

Educational attainment (age 25+)

No high school diploma5.4%

High school graduate10.7%

Some college or associate's22.3%

Bachelor's degree33.0%

Graduate or professional degree28.5%

	Count	Share
No high school diploma	904	5.4%
High school graduate	1,783	10.7%
Some college or associate's	3,703	22.3%
Bachelor's degree	5,478	33.0%
Graduate or professional degree	4,726	28.5%

Commute to work

Mean travel time to work: 36 min

Drove alone63.2%

Carpooled10.3%

Public transit2.2%

Walked1.1%

Bicycle0.0%

Worked from home19.6%

Other means3.6%

How workers get to work

	Count	Share
Drove alone	7,644	63.2%
Carpooled	1,247	10.3%
Public transit	265	2.2%
Walked	129	1.1%
Bicycle	0	0.0%
Worked from home	2,376	19.6%
Other means	434	3.6%

Travel time

	Count	Share
Under 15 min	1,060	10.9%
15 to 29 min	2,443	25.1%
30 to 44 min	2,656	27.3%
45 to 59 min	1,751	18.0%
60+ min	1,809	18.6%

Households

Average household size: 2.97
Poverty rate: 6.4% (1,549 of 24,141)

	Count	Share
Family households	6,409	78.8%
Nonfamily households	1,729	21.2%

Housing

Median year structure built: 1976

Occupancy

	Count	Share
Occupied	8,138	92.9%
Vacant	622	7.1%

Tenure (of occupied units)

	Count	Share
Owner-occupied	6,431	79.0%
Renter-occupied	1,707	21.0%

1-unit, detached79.5%

1-unit, attached4.7%

2 to 4 units2.2%

5 to 19 units2.2%

20 or more units11.5%

Mobile home & other0.0%

Units in structure

	Count	Share
1-unit, detached	6,961	79.5%
1-unit, attached	409	4.7%
2 to 4 units	190	2.2%
5 to 19 units	190	2.2%
20 or more units	1,010	11.5%
Mobile home & other	0	0.0%

Geography

Place GEOID: 1254275
Type (LSAD): 47
Land area: 8.28 sq mi
Water area: 0.16 sq mi
Center point: 25.6217, -80.3189