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Palmetto Bay village, FL

ZIP 33157 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLarge CommunityLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 33157

Median Home Value
$478,300
Median Rent
$1,381
Affordability Snapshot
$132,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,072/mo PITI).

21%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.0x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

28.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 33157 in Palmetto Bay village, FL, a household would need roughly $132,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,072. That is about 64% above the local median household income ($80,364), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
65.6%+0% vs US avg
x
Vacancy Rate
6.6%-36% vs US avg
x
Broadband Access
90.9%+4% vs US avg
x
4+ Bedrooms
5.8%-61% vs US avg
x
Built Pre-1939
0.5%-96% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
29.1%-41% vs US avg
x
Mortgage-Free
32.3%-16% vs US avg
x
$478,300
Home Value
$1,381
Rent
1975
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached68.9%
  • 1-unit attached7.7%
  • 2-9 units5.4%
  • 10+ units17.9%
  • Mobile home & other0.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$478,300
Median rent$1,381
Owner-occupied65.6%
Vacant6.6%
Price-to-income6.0x
Est. income to buy$132,000