Village of Palmetto Bay, FL housing market
Typical home value
$1.1M
▲ 4.1% 1 yr
Typical rent
$2,446/mo
▲ 0.2% 1 yr
Gross rent yield
2.7%
U.S. 6.3%
5-year home value change
+55%
U.S. +20%
Key takeaways
- 1The typical home in Village of Palmetto Bay is worth $1,102,960, up 4.1% over the past year and up 55% over five years.
- 2Typical rent is $2,446 a month (+0.2% YoY), a gross rent yield of 2.7% (below the Miami, FL metro's 6.7%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $6,061/mo, $3,615 more than typical rent.
- 4Zillow forecasts the Miami, FL metro's home values to change +0.7% over the next 12 months.
Market temperature (Miami, FL metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 43/100, #225 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Village of Palmetto Bay compares
| Measure | Village of Palmetto Bay | Miami, FL metro | United States |
|---|---|---|---|
| Typical home value | $1,102,960 | $476,815 | $366,157 |
| Home value, 1-yr change | +4.1% | +0.3% | +1.2% |
| Typical rent | $2,446 | $2,654 | $1,932 |
| Rent, 1-yr change | +0.2% | +1.8% | +2.7% |
| Gross rent yield | 2.7% | 6.7% | 6.3% |
| Price-to-rent ratio | 37.6 | 15.0 | 15.8 |
| Mortgage P&I, typical home | $6,061 | $2,620 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Village of Palmetto Bay rental, pre-filled.
Rent vs buy in Village of Palmetto Bay
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $1.1M home.
Landlord in Florida? See Florida deposit, late fee and notice rules.
Other cities in the Miami, FL metro
Miami, FL
$584K home$2,965 rent
▲ 1.4% 1 yr
Hialeah, FL
$444K home$2,343 rent
▲ 0.1% 1 yr
Boca Raton, FL
$580K home$2,967 rent
▲ 4.9% 1 yr
West Palm Beach, FL
$405K home$2,365 rent
▲ 2.4% 1 yr
Lake Worth Beach, FL
$442K home$2,357 rent
▲ 1.4% 1 yr
Homestead, FL
$437K home$2,447 rent
▼ 3.0% 1 yr
Fort Lauderdale, FL
$510K home$2,697 rent
▼ 0.6% 1 yr
Boynton Beach, FL
$404K home$2,348 rent
▲ 0.8% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.