$2,000 Per Month
- 2 Beds
- 1 Bath
- 551 Sq Ft
- House for Rent
16601 SW 83rd Ct Unit 3, Palmetto Bay, FL 33157
16601 SW 83rd Ct Unit 3, Palmetto Bay, FL 33157
Frequently Asked Questions
How much does it cost to rent a home in Palmetto Bay, FL?
The median rent for a home in Palmetto Bay, FL is $3,959 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Palmetto Bay, FL?
To comfortably afford the median rent in Palmetto Bay, FL, a household needs to earn roughly $158,360 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $3,959 per month in Palmetto Bay, FL, renters typically need to show $11,877 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Palmetto Bay, FL?
In Palmetto Bay, FL, the price-to-rent ratio is 23.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Palmetto Bay, FL are best for renting a home?
The best neighborhood for renting in Palmetto Bay, FL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Deering Bay, Palmetto Estates, West Perrine, Richmond Heights and Downtown Kendall, each with its own character and price range.
