Palmetto Bay, FL is an affluent suburb located in South Florida with a population of about 25,000. It offers a peaceful and family-friendly atmosphere for residents to enjoy. The city is home to several well-known companies such as Publix Supermarket, Paner Bread Bakery & Cafe, and Airgas USA. Renting a two bedroom in Palmetto Bay costs about $2,000 per month while the national average is about $1,430. Additionally, the grocery cost index for Palmetto Bay is 109 versus the US index of 100 which shows that groceries are slightly more expensive in the area compared to other parts of the country.
Palmetto Bay has an unemployment rate of 8.2%. The US average is 6.0%.
Palmetto Bay has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Palmetto Bay
- The Sales Tax Rate for Palmetto Bay is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Palmetto Bay is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Palmetto Bay
- The average income of a Palmetto Bay resident is $42,363 a year. The US average is $28,555 a year.
- The Median household income of a Palmetto Bay resident is $131,605 a year. The US average is $69,021 a year.