Apartments for Rent in Palmetto Bay, FL

Prices and availability in Palmetto Bay, FL were last updated on 25 Jul 2026.

The best apartments in Palmetto Bay, FL are: Bay Village1 and Indigo Palmetto Bay.

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

The price range for a studio apartment in Palmetto Bay, FL is between $1,935 and $3,029.

The price range for a 1-bedroom apartment in Palmetto Bay, FL is between $2,151 and $3,366.

The price range for a 2-bedroom apartment in Palmetto Bay, FL is between $2,419 and $4,723.

The price range for a 3-bedroom apartment in Palmetto Bay, FL is between $3,562 and $5,480.

In Palmetto Bay, 22% of the residents are renting compared to 78% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 34% of Palmetto Bay's rentals, 38% are small-scale complexes with under 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.