Apartments for Rent in Palmetto Bay, FL

Prices and availability in Palmetto Bay, FL were last updated on 6 Nov 2026.

The best apartments in Palmetto Bay, FL are: Bay Village1, Indigo Palmetto Bay, 17051 Sw 85 Th Ave and 15389 South Dixie Highway, Unit #34.

The average rent in Palmetto Bay, FL is $2,042.

The price range for a studio apartment in Palmetto Bay, FL is between $1,684 and $3,352.

The price range for a 1-bedroom apartment in Palmetto Bay, FL is between $1,918 and $3,837.

The price range for a 2-bedroom apartment in Palmetto Bay, FL is between $1,900 and $4,364.

The price range for a 3-bedroom apartment in Palmetto Bay, FL is between $3,323 and $5,699.

In Palmetto Bay 22% of the housing is rented out compared to 78% of homes are owned, according to the most recent Census Bureau estimates. 34% of Palmetto Bay's apartments are found in large buildings of 50 units or more, 38% are located in smaller apartment complexes with less than 50 units, and 28% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Palmetto Bay are about 33 years old, on average. Of these, 41% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 4 stories. About 72% of the rental communities here are low-rise, garden-style communities, 41% are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Palmetto Bay come in a range of sizes and floorplans. Studio apartments represent 7% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 51% of the total apartments in the city, while 2-bedroom floorplans represent around 35% of all rentals in Palmetto Bay. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.