Most Expensive Palmetto Bay Neighborhoods
Palmetto Bay is a medium-sized coastal village (i.e. on the ocean, a bay, or inlet) located in the state of Florida. With a population of 24,513 people and six constituent neighborhoods, Palmetto Bay is the 113th largest community in Florida.
Palmetto Bay home prices are not only among the most expensive in Florida, but Palmetto Bay real estate also consistently ranks among the most expensive in America.
Palmetto Bay is a decidedly white-collar village, with fully 90.60% of the workforce employed in white-collar jobs, well above the national average. Overall, Palmetto Bay is a village of professionals, sales and office workers and managers. There are especially a lot of people living in Palmetto Bay who work in office and administrative support (15.29%), sales jobs (14.66%) and management occupations (13.00%).
Also of interest is that Palmetto Bay has more people living here who work in computers and math than 95% of the places in the US.
Because of many things, Palmetto Bay is a very good place for families to consider. With an enviable combination of good schools, low crime, college-educated neighbors who tend to support education because of their own experiences, and a high rate of home ownership in predominantly single-family properties, Palmetto Bay really has some of the features that families look for when choosing a good community to raise children. Is Palmetto Bay perfect? Of course not, and if you like frenetic nightlife, it will be far from your cup of tea. But overall this is a solid community, with many things to recommend it as a family-friendly place to live.
Palmetto Bay is also nautical, which means that parts of it are somewhat historic and touch the ocean or tidal bodies of water, such as inlets and bays. Quite often, nautical areas such as these attract visitors and locals who come to enjoy the scenery and various waterfront activities.
In Palmetto Bay, however, the average commute to work is quite long. On average, people spend 35.44 minutes each day getting to work, which is significantly higher than the national average.
Do you like to read, write and learn? If you move to Palmetto Bay, you'll likely find that many of your neighbors like to as well. Palmetto Bay is one of the more educated communities in America, with a full 53.30% of its adults having a college degree or even advanced degree, compared to a national average across all communities of 21.84%.
The per capita income in Palmetto Bay in 2010 was $42,363, which is wealthy relative to Florida and the nation. This equates to an annual income of $169,452 for a family of four. However, Palmetto Bay contains both very wealthy and poor people as well.
Palmetto Bay is a somewhat ethnically-diverse village. The people who call Palmetto Bay home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Palmetto Bay residents report their race to be White, followed by Black or African-American. Palmetto Bay also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 38.77% of the village’s residents. Important ancestries of people in Palmetto Bay include Irish, German, English, Italian, Polish and Russian.
Foreign born people are also an important part of Palmetto Bay's cultural character, accounting for 28.32% of the village’s population.
The most common language spoken in Palmetto Bay is English. Other important languages spoken here include Spanish and Chinese.
|PALMETTO BAY INFORMATION||DETAILS|
|NUMBER OF HOMES AND APARTMENTS||7,251|
|PALMETTO BAY HOME OWNERSHIP|
|% OWNER OCCUPIED||84.03%|
|% RENTER OCCUPIED||15.97%|
|TYPE OF PALMETTO BAY HOMES|
|SINGLE FAMILY DETACHED||83.33%|
|ROWHOUSES AND ATTACHED HOMES||7.44%|
|SMALL APARTMENT BUILDINGS||1.70%|
|COMPLEXES OR HIGH RISE APARTMENTS||7.29%|
|SIZE OF PALMETTO BAY HOMES|
|5 OR MORE BEDROOMS||11.60%|
|AGE OF PALMETTO BAY HOMES|
|NEWER HOMES (2000 OR LATER)||5.58%|
|ESTABLISHED, BUT NOT OLD HOMES (1970-1999)||55.24%|
|WELL-ESTABLISHED, OLD HOMES (1940-1969)||38.90%|
|HISTORIC (1939 OR BEFORE)||0.28%|
|PALMETTO BAY REAL ESTATE INFORMATION||DETAILS|
|MEDIAN HOME VALUE||$642,144|
|MEDIAN RENTAL PRICE||$2,548|
|HOME VALUE RANGE|
|$0 - $74,000||1.83%|
|$74,001 - $148,000||2.01%|
|$148,001 - $297,000||7.55%|
|$297,001 - $445,000||11.15%|
|$445,001 - $593,000||20.77%|
|$593,001 - $742,000||22.39%|
|$742,001 - $1,112,000||27.18%|
|$1,112,001 - $1,483,000||4.04%|
|PEOPLE OF PALMETTO BAY||DETAILS|
|UNDER 5 YEARS||4.98%|
|5 TO 17||22.94%|
|18 TO 24||8.38%|
|25 TO 34||7.85%|
|35 TO 54||29.15%|
|55 TO 64||13.70%|
|65 YEARS AND OVER||12.99%|
|EDUCATIONAL ATTAINMENT OF ADULTS|
|HIGH SCHOOL GRADUATES||94.05%|
|MEDIAN HOUSEHOLD INCOME||$108,360|
|PER CAPITA INCOME||$42,363|
|INDIVIDUALS BELOW POVERTY LEVEL||7.38%|
|INDUSTRIES PEOPLE WORK IN||Professional, scientific, and technical services (16.07%)
Public Service (6.30%)
Real estate (2.46%)
Information Technology (2.26%)
|BLACK OR AFRICAN AMERICAN||6.41%|
|AMERICAN INDIAN AND ALASKA NATIVE||0.07%|
|NATIVE HAWAIIAN AND OTHER PACIFIC ISLANDERS||0.17%|
|SOME OTHER RACE ALONE||1.26%|
|TWO OR MORE RACES||2.48%|
|HISPANIC OR LATINO (OF ANY RACE)||38.77%|
|ETHNICITIES PRESENT||Irish (7.90%)
|LANGUAGES SPOKEN||English (55.45%)
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