Rentometer, Inc. | Data as of 10/23/2025
Palmetto Bay offers a balanced rental market that caters to a diverse range of tenants, from young professionals seeking a modern apartment to families looking for spacious singleâfamily homes. The communityâs tranquil, treeâlined streets and proximity to Biscayne Bay create a picturesque backdrop for everyday living, while easy access to major highways connects residents to the broader Miami metropolitan area. Local amenities such as the historic Palmetto Bay Community Center, scenic parks, and highly rated schools make the city especially attractive for longâterm renters who value both convenience and quality of life.
Apartment options in Palmetto Bay span from efficient oneâbedroom units to expansive fourâplusâbedroom layouts, providing flexibility for varying household sizes. Those interested in a house can choose from cozy twoâbedroom bungalows to larger fourâplusâbedroom residences that often feature private yards and contemporary finishes. Rental rates in the area generally range from the $2,300s for a oneâbedroom apartment to the $7,500s for a spacious fourâplusâbedroom home, reflecting the quality of housing and the desirability of the location. Prospective tenants will find a mix of newer developments near the Village at Palmetto Bay and wellâmaintained older homes in established neighborhoods.
Beyond the rental offerings, Palmetto Bayâs vibrant community life includes nearby attractions such as the historic Deering Estate, popular dining destinations along the coastline, and a variety of outdoor recreation opportunities like kayaking and paddleâboarding on the bay. These amenities, combined with a safe, familyâfriendly environment, make Palmetto Bay a compelling choice for renters seeking a high standard of living in South Florida.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $2,385 | $2,400 | $2,013 - $2,603 | $2,282 - $2,542 |
| Apartment | 2 Bedroom | $2,641 | $2,766 | $1,650 - $3,050 | $2,638 - $2,875 |
| Apartment | 3 Bedroom | $3,757 | $3,715 | $3,000 - $4,540 | $3,551 - $3,982 |
| Apartment | 4+ Bedroom | $6,286 | $5,736 | $4,175 - $9,500 | $4,222 - $9,500 |
| House | 2 Bedroom | $2,719 | $2,950 | $1,850 - $3,200 | $2,500 - $3,095 |
| House | 3 Bedroom | $4,736 | $4,500 | $2,400 - $10,000 | $3,500 - $5,950 |
| House | 4+ Bedroom | $7,546 | $7,500 | $3,200 - $16,000 | $5,800 - $8,500 |
In the current period, the average rent in Palmetto Bay was
$2,292 for 1 Bedroom,
$2,653 for 2 Bedroom,
$4,561 for 3 Bedroom, and
$6,838 for 4+ Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.