Cost of Living in Palmetto Bay, FL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
220.5
100 = national avg
+120.5 vs national average
Living Wage (1 Adult)
$97,039
per year
Living Wage (Family of 4)
$229,366
per year
Cost Index by Category
Housing282.5
Food159.6
Transportation219.2
Healthcare147.7
Utilities172.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,995
per month
2 Bedroom
$2,436
per month
The overall cost of living index in Palmetto Bay is 220.5, which is 120.5% above the national average. Housing costs are above the national average at an index of 282.5. A single adult needs to earn approximately $97,039 per year to cover basic expenses.