Palmetto Bay village, Florida Demographics & Population 2026

Population Overview

Palmetto Bay village is a small city located in Florida. The total population is 24,247. It ranks as the 177th most populous out of 953 cities and towns in Florida.

Age Demographics

The median age in Palmetto Bay village is 41.6 years. This is 2% lower than the state median of 42.6 years.

Economy, Income & Housing

The median household income in Palmetto Bay village is $143,368. This is 100% higher than the state median of $71,711. Compared to the national median of $78,538, household income here is 83% higher. The poverty rate stands at 6.4%. This is 49% lower than the state poverty rate of 12.6%. The unemployment rate is 3.4%. This is 30% lower than the state rate of 4.8%. The median home value is $787,000. Housing costs are 142% higher than the state median of $325,000. The home-value-to-income ratio is 5.5x. 79.0% of occupied housing units are owner-occupied. This homeownership rate is 17% higher than the state average of 67.3%.

Race & Ethnicity

The largest racial or ethnic group in Palmetto Bay village is Hispanic or Latino, making up 48.5% of the population. White (non-Hispanic) residents account for 38.9%. The Black or African American population (3.8%) is well below the state average of 14.8%. The Hispanic or Latino population is significantly higher than the state average (48.5% vs 26.8%). The Asian population is significantly higher than the state average (4.4% vs 2.8%).

Education

61.5% of residents aged 25 and older hold a bachelor's degree or higher. This places Palmetto Bay village in the top 10% of all cities in the state for educational attainment. This is 85% higher than the state rate of 33.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 94.5%. Notably, 28.5% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Palmetto Bay village, Florida is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Florida state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 953 Census-designated places in Florida. For official data, visit data.census.gov.