Average Rent in Palmetto Bay, FL

Current Versus Historical Palmetto Bay, FL Rents

Palmetto Bay rentals average $1,800 for a 1-bedroom rental to $8,200 for a 4-bedroom rental. The median price of all currently available listings is $5,800, or roughly $3 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $578 (23.88%) year-over-year from $2,422 to $3,000. 1-bedroom rentals prices have decreased by $88 (-4.66%) year-over-year from $1,888 to $1,800. 2-bedroom rentals prices have decreased by $175 (-7.14%) year-over-year from $2,450 to $2,275. 3-bedroom rentals prices have increased by $550 (15.71%) year-over-year from $3,500 to $4,050. 4-bedroom rentals prices have decreased by $592 (-7.95%) year-over-year from $7,442 to $6,850. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 4.65% this month. 1-bedroom rents have gone down by 0.46% this month. 2-bedroom rents have gone up by 3.41% this month. 3-bedroom rents have gone down by 0.21% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$3.04	$1,800	$1,888 (-4.66%)	$1,522 (18.29%)
2 BR	$2.43	$2,275	$2,450 (-7.14%)	$1,673 (35.96%)
3 BR	$2.90	$4,050	$3,500 (15.71%)	$4,825 (-16.06%)
4+ BR	$2.65	$6,850	$7,442 (-7.95%)	$4,793 (42.91%)

Historical Rents in Palmetto Bay, FL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Palmetto Bay

There are a total of 5 cities nearby Palmetto Bay. The average rent in Palmetto Bay is currently $4,300 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Kendall, FL, with an average rent of $2,850, is the most affordable city nearby. In contrast, the most expensive city near Palmetto Bay, FL is Pinecrest, FL. Monthly rents here are on average $8,900 per month.

Let's compare Palmetto Bay, FL's rent against other top cities nearby by bedroom size. One bedrooms are about 8.33% more affordable. Two bedrooms in Palmetto Bay, FL are about 6.52% more affordable. Finally, rent for three bedrooms are about 6.22% more expensive. Want more information? Check out the top 5 cities near Palmetto Bay, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
Kendall, FL	$1,970	$1,950	$2,500	$2,850
Cutler Bay, FL	N/A	$1,800	$2,400	$3,000
Coral Gables, FL	$1,890	$2,300	$3,900	$4,300
Palmetto Bay, FL	N/A	$1,800	$2,300	$5,800
Pinecrest, FL	N/A	$1,950	$2,450	$8,900

Top Neighborhoods Near Palmetto Bay

There are a total of 2 neighborhoods in or near Palmetto Bay. We've included all of these top 2 neighborhoods in or near Palmetto Bay, FL in the following chart.

The average rent for these 2 neighborhoods in or near Palmetto Bay, FL is currently around $5,950 per month. A total of one neighborhood has a lower average rent. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Interestingly, the neighborhoods' average rent is higher than Palmetto Bay's average rent, which is only $5,800. Out of all the neighborhoods in or near Palmetto Bay, Cutler Bay has the most affordable average rent at $3,000 per month. Whereas, at $8,900 average rent per month, Pinecrest is the most expensive neighborhood in or near Palmetto Bay. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Cutler Bay, FL	N/A	$1,800	$2,400	$3,000
Pinecrest, FL	N/A	$1,950	$2,450	$8,900

Top Counties Near Palmetto Bay

There are a total of 2 counties located by Palmetto Bay, FL. The average rent for rentals in these counties is $3,600. That's roughly around $3 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Kendall-Palmetto Bay, FL. It's average rent per month is $3,600. Vice versa, with an average rent of $3,600, Kendall-Palmetto Bay, FL is the most expensive county by Palmetto Bay, FL.

Typically, rent for studios in Palmetto Bay, FL is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Palmetto Bay, FL is 8.33% more affordable than other counties nearby. Finally, rent for two bedrooms in Palmetto Bay, FL is 10.87% more affordable than other counties nearby. We've listed the top 1 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Kendall-Palmetto Bay, FL	$1,850	$1,950	$2,550	$3,600

Top Zipcodes Near Palmetto Bay

There are a total of 5 zipcodes in or near Palmetto Bay, FL. The average rent for all of these zipcodes is $3,098. A total of 5 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 33176, Kendall, FL at $2,450 per month. In comparison, the zipcode with the most expensive average rent of $5,000 per month is 33156, Pinecrest, FL.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Palmetto Bay, FL is $1,925 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,350 per month. Which comes out to $2 per sqft. The following chart includes the top 5 zipcodes in Palmetto Bay, FL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
33157, Palmetto Bay, FL	N/A	$1,625	$2,300	$3,500
33176, Kendall, FL	N/A	$1,925	$2,300	$2,450
33156, Pinecrest, FL	N/A	$2,488	$2,800	$5,000
33177, South Miami Heights, FL	$1,300	$1,500	$2,350	$2,900
33186, The Hammocks, FL	N/A	$1,975	$2,500	$3,098

Frequently Asked Questions - Palmetto Bay Average Rents

What is the average rent price in Palmetto Bay, FL?

The average monthly rental price for Palmetto Bay, FL apartments for rent is approximately $5,800. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Palmetto Bay, FL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Palmetto Bay, FL.

How much is a studio apartment in Palmetto Bay, FL?

The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in Palmetto Bay.

How much is a one bedroom apartment in Palmetto Bay, FL?

The average monthly rental price for one bedroom apartments is $1,800 and an average price per square feet of $3.04. There are a total of 6 one bedroom apartment listings currently available for rent in Palmetto Bay.

How much is a two bedroom apartment in Palmetto Bay, FL?

The average monthly rental price for two bedroom apartments is $2,300 and an average price per square feet of $2.43. There are a total of 7 two bedroom apartment listings currently available for rent in Palmetto Bay.

How have rent prices in Palmetto Bay, FL changed this year?

Rent prices for rentals in Palmetto Bay, FL can fluctuate yearly. Specifically, studio rental prices have changed by 0.24%, one bedroom rental prices have changed by -0.05%, two bedroom rental prices have changed by -0.07%, and three bedroom rental prices have changed by 0.16% year-over-year.

What is a reasonable rent price in Palmetto Bay, FL?

A reasonable rent price in Palmetto Bay, FL is around $4,640/month. You can search for these reasonably priced rental listings on RentHop.