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 25,402 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: 21.24% 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 very good place for families to consider. With an enviable combination of good schools, low crime, college-educated neighbors who tend to support education because of their own experiences, and a high rate of home ownership in predominantly single-family properties, Palmetto Bay really has some of the features that families look for when choosing a good community to raise children. Is Palmetto Bay perfect? Of course not, and if you like frenetic nightlife, it will be far from your cup of tea. But overall this is a solid community, with many things to recommend it as a family-friendly place to live.

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 35.46 minutes every day commuting to work.

Do you like to read, write and learn? If you move to Palmetto Bay, you'll likely find that many of your neighbors like to as well. Palmetto Bay is one of the more educated communities in America, with a full 60.12% of its adults having a college degree or even advanced degree, compared to a national average across all communities of 21.84%.

The per capita income in Palmetto Bay in 2022 was $70,313, which is wealthy relative to Florida and the nation. This equates to an annual income of $281,252 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 51.11% 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 Black or African-American. Important ancestries of people in Palmetto Bay include German, English, Irish, Italian, and French.

Foreign born people are also an important part of Palmetto Bay's cultural character, accounting for 32.39% of the village’s population.

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