Apartments for Rent in Palmetto Bay, FL

Prices and availability in Palmetto Bay, FL were last updated on 22 May 2026.

The best apartments in Palmetto Bay, FL are: Bay Village1, Indigo Palmetto Bay and 14155 Old Cutler Rd.

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

The price range for a studio apartment in Palmetto Bay, FL is between $1,845 and $2,909.

The price range for a 1-bedroom apartment in Palmetto Bay, FL is between $1,921 and $3,261.

The price range for a 2-bedroom apartment in Palmetto Bay, FL is between $2,414 and $4,215.

The price range for a 3-bedroom apartment in Palmetto Bay, FL is between $3,664 and $5,608.

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.

Studio apartments in Palmetto Bay are around 7% of rentals, while 1-bedroom floor plans represent 51% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 35% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.