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 24,264 people and six associated neighborhoods, Palmetto Bay is the 132nd 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.

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.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 19.64% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Because of many things, Palmetto Bay is a great place for families with children to consider. First of all, many other families with children live here, making Palmetto Bay a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The village’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Palmetto Bay has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Palmetto Bay’s overall crime rate is lower than average for the country.

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. Such areas are often places that visitors and locals go for waterfront activities or taking in the scenery.

One downside of living in Palmetto Bay, however, is that residents on average have to contend with a long commute, spending on average 36.43 minutes every day commuting to work.

Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Palmetto Bay. 61.49% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.

The per capita income in Palmetto Bay in 2022 was $70,583, which is wealthy relative to Florida and the nation. This equates to an annual income of $282,332 for a family of four.

Palmetto Bay is an extremely ethnically-diverse village. The people who call Palmetto Bay home describe themselves as belonging to a variety of racial and ethnic groups. People of Hispanic or Latino origin are the most prevalent group in Palmetto Bay, accounting for 48.51% of the village’s residents (people of Hispanic or Latino origin can be of any race). The greatest number of Palmetto Bay residents report their race to be White, followed by Asian. Important ancestries of people in Palmetto Bay include German, Irish, English, Italian, and Greek.

Foreign born people are also an important part of Palmetto Bay's cultural character, accounting for 30.21% of the village’s population.

The most common language spoken in Palmetto Bay is English. Other important languages spoken here include Spanish and Chinese.