Housing costs in Palmetto Bay?
A typical home costs
$927,700, which is 174.4% more expensive than the national average of
$338,100 and 156.0% more expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Palmetto Bay costs
$2,000 per month, which is 39.9% more than the national average of
$1,430 and 22.0% more than the state average of
$1,560.
Can I afford Palmetto Bay?
To live comfortably in Palmetto Bay, Florida, a minimum annual income of
$177,840 for a family, and
$64,400 for a single person is recommended.
What does A.I. say about Palmetto Bay?
Palmetto Bay, FL is an affluent suburb located 15 miles south of Miami. Living in Palmetto Bay comes with a hefty price tag, with the cost of living being over 40% higher than the national average. As of June 2020, the median home value rests at $579,500 and the median rent is $2,445 per month. Although it may be costly to live in Palmetto Bay, locals benefit from low crime rates and excellent schools. The city also offers plenty of recreation opportunities for residents and visitors alike thanks to its numerous parks and beaches nearby. In conclusion, while living in Palmetto Bay is expensive compared to many other places in Florida or throughout the United States, you can expect high-quality education systems and safe neighborhoods for your family when you choose this location.