What is the cost of living in Palmetto Bay, FL?
According to the most recent data on the cost of living, Palmetto Bay has an overall cost of living index of 154, which is 1.5x higher than the national index of 100.
Compared to Florida, Palmetto Bay has a cost of living index that's 1.5x higher than Florida's index of 104.
The standard of living in Palmetto Bay ranks as #446 most affordable out of the 462 places we measured in Florida. By definition, that implies Palmetto Bay ranks as the #16 most expensive place in the Sunshine State.
For more reading on life in Palmetto Bay, check out:
Palmetto Bay Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Palmetto Bay. Here is how it fares on each of the criteria:
The Services index in Palmetto Bay is 102.
The Groceries index in Palmetto Bay is 103.
The Health index in Palmetto Bay is 274.
The Housing index in Palmetto Bay is 105.
The Transportation index in Palmetto Bay is 112.
The Utilities index in Palmetto Bay is 104.
| Living Expense | Palmetto Bay | Florida | National Average |
|---|---|---|---|
| Overall | 154 | 104 | 100 |
| Services | 102 | 101 | 100 |
| Groceries | 103 | 105 | 100 |
| Health | 274 | 99 | 100 |
| Housing | 105 | 104 | 100 |
| Transportation | 112 | 109 | 100 |
| Utilities | 104 | 105 | 100 |
Palmetto Bay Cost Of Living Compared To Florida Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Florida, check out:
Protect your home budget Compare home warranties in Palmetto Bay Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Palmetto Bay, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Palmetto Bay is $920,527.
The Median Rent in Palmetto Bay is $2,101.
The Median Income in Palmetto Bay is $142,447.
The Home Value To Income in Palmetto Bay is 6.5x.
The Rent To Monthly Income in Palmetto Bay is 0.18x.
| Statistic | Palmetto Bay | Florida | United States |
|---|---|---|---|
| Median Home Value | $920,527 | $375,661 | $332,700 |
| Median Rent | $2,101 | $1,669 | $1,413 |
| Median Income | $142,447 | $74,568 | $80,734 |
| Home Value To Income | 6.5x | 5.0x | 4.1x |
| Rent To Monthly Income | 0.18x | 0.27x | 0.21x |
Palmetto Bay, FL Costs By Category
Detailed Palmetto Bay Services costs vs. Florida
| Item | Palmetto Bay | Florida |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.35 | $12.13 |
| Bowling | $23.67 | $18 |
| Haircut | $20.53 | $24.26 |
| Beauty Salon | $88.07 | $45.56 |
Detailed Palmetto Bay Groceries costs vs. Florida
| Item | Palmetto Bay | Florida |
|---|---|---|
| Ground Beef | $6.11 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.6 | $4.67 |
| Potatoes | $5.24 | $4.93 |
| Pizza | $14.13 | $12.09 |
| Beer | $11.44 | $10.41 |
| Toothpaste | $3.51 | $3.7 |
Detailed Palmetto Bay Health costs vs. Florida
| Item | Palmetto Bay | Florida |
|---|---|---|
| Optometrist | $98.49 | $125.68 |
| Doctor | $127.08 | $135.78 |
| Dentist | $107.83 | $113.29 |
Detailed Palmetto Bay Transportation costs vs. Florida
| Item | Palmetto Bay | Florida |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $64.09 | $59.92 |
Detailed Palmetto Bay Utilities costs vs. Florida
| Item | Palmetto Bay | Florida |
|---|---|---|
| All Electricity | $200.94 | $193.99 |
| Phone | $194.37 | $192.25 |
Palmetto Bay SnackAbility
Cost Of Living In Cities Around Palmetto Bay
The cost of living varies in the cities and towns around Palmetto Bay. Here's a quick look at the cost of living in the most populous nearby places:
Kendall, FL has a cost of living index of 129, 0.8x Palmetto Bay.
Kendale Lakes, FL has a cost of living index of 120, 0.8x Palmetto Bay.
Coral Gables, FL has a cost of living index of 191, 1.2x Palmetto Bay.
| City | Population | Cost Of Living | Vs. Palmetto Bay |
|---|---|---|---|
| Kendall, FL | 79,562 | 129 | 0.8x |
| Kendale Lakes, FL | 52,622 | 120 | 0.8x |
| Coral Gables, FL | 49,802 | 191 | 1.2x |
| Tamiami, FL | 49,752 | 126 | 0.8x |
| Cutler Bay, FL | 45,070 | 123 | 0.8x |
| South Miami Heights, FL | 38,766 | 114 | 0.7x |
| Richmond West, FL | 35,593 | 133 | 0.9x |
| Coral Terrace, FL | 24,895 | 128 | 0.8x |
| The Crossings, FL | 22,963 | 126 | 0.8x |
| Country Walk, FL | 19,291 | 132 | 0.9x |
