Palmetto Bay, FL Profile: Facts & Data


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Palmetto Bay, Florida - Basic Facts

The Village of Palmetto Bay had a population of 24,586 as of July 1, 2020.

The primary coordinate point for Palmetto Bay is located at latitude 25.6218 and longitude -80.3248 in Miami-Dade County. The formal boundaries for the Village of Palmetto Bay encompass a land area of 8.29 sq. miles and a water area of 0.16 sq. miles. Miami-Dade County is in the Eastern time zone (GMT -5). The elevation is 10 feet.

The Village of Palmetto Bay (GNIS ID: 2407519) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Florida is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The Village of Palmetto Bay is located within Kendall-Palmetto Bay CCD of Miami-Dade County.


Palmetto Bay, FL Data & Demographics (As of July 1, 2020)


Total Population 24,586 (100%)
Population in Households 24,569 (99.9%)
Population in Families 22,254 (90.5%)
Population in Group Quarters1 17 ( 0.1%)
Population Density 2,968
Diversity Index2 64


Median Household Income $119,758
Average Household Income $165,113
% of Income for Mortgage4 19%
Per Capita Income $55,312
Wealth Index5 231


Total HU (Housing Units) 8,630 (100%)
Owner Occupied HU 6,383 (74.0%)
Renter Occupied HU 1,849 (21.4%)
Vacant Housing Units 398 ( 4.6%)
Median Home Value $535,421
Average Home Value $578,877
Housing Affordability Index3 124


Total Households 8,232
Average Household Size 2.98
Family Households 6,782
Average Family Size 3
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.


2010-2020 2020-2025
Population 0.48% 0.91%
Households 0.37% 0.8%
Families 0.36% 0.8%
Median Household Income   1.14%
Per Capita Income   1.58%
Owner Occupied HU   0.18%


Palmetto Bay, FL - Peer Comparisons by Rank and Percentile

The table below compares Palmetto Bay to the other 919 incorporated cities, towns and CDPs in Florida by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 170 82nd
Population Density # 269 71st
Median Household Income # 25 97th
Housing Affordability Index # 235 26th
Per Capita Income # 80 91st
Diversity Index # 249 73rd

Additional comparisons and rankings can be made with a VERY EASY TO USE Florida Census Data Comparison Tool.

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