Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Palmetto Bay, FL Rental Market Trends
What is the average rent in Palmetto Bay?
The average rent for an apartment in Palmetto Bay is $1,356, a 18% increase compared to the previous year, when the average rent was $1,153.
Average Rent in Palmetto Bay, FL
Last updated May 2021
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,356 | 18% | 790 sq. ft. |
What is the average apartment size in Palmetto Bay?
The average size for a Palmetto Bay, FL apartment is 790 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Palmetto Bay, FL Apartment Rent Ranges
- $701-$1,00010%
- $1,001-$1,50069%
- $1,501-$2,00010%
- > $2,00011%
Palmetto Bay, FL Occupied Housing Units
- Renter-occupied Households15%
- Owner-occupied Households84%
1,152 or 15% of the households in Palmetto Bay, FL are renter-occupied while 6,307 or 84% are owner-occupied.
Palmetto Bay, FL Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | May / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Palmetto Bay, FL | $1,065 | $1,065 | $1,095 | $1,064 | $1,096 | $1,087 | $1,153 | $1,308 | $1,304 | $1,356 |
| National | $1,346 | $1,355 | $1,359 | $1,356 | $1,391 | $1,398 | $1,400 | $1,390 | $1,395 | $1,407 |
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How Palmetto Bay Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Jacksonville | $1,173 | 5% |
| Tampa | $1,432 | 5% |
| Miami | $1,754 | 2% |
| Orlando | $1,432 | n/a |
| Kissimmee | $1,363 | n/a |
| Fort Lauderdale | $2,056 | 2% |
| Homestead | $1,338 | 4% |
| Hollywood | $1,484 | 1% |
| Miami Beach | $2,025 | n/a |
| Deerfield Beach | $1,592 | 3% |
| Palmetto Bay | $1,356 | 18% |
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Palmetto Bay apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.