Rent to own Homes in Palmetto Bay, FL
Located in Southern Dade County, nestled against the Atlantic Ocean, the Village of Palmetto Bay has a small-town feel despite it's proximity to the Miami metropolitan area. Potential homebuyers can look forward to a gorgeous climate, wealth of cultural and sporting activities and easy access to the beaches and waterways of South Florida. Below are six reasons to consider relocating to Palmetto Bay.
Palmetto Bay, FL is a great place for affordable rent-to-own homes! With a median household income of over $123,235 and a median rent of $1,455, the Palmetto Bay, FL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Palmetto Bay, FL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Palmetto Bay, FL Property Resources
Rent to own Homes in Cities Near Palmetto Bay, FL
- Aventura
- Bal Harbour
- Bay Harbor Islands
- Biscayne Park
- Doral
- El Portal
- Fisher Island
- Florida City
- Fountainebleau
- Gladeview
- Glenvar Heights
- Golden Glades
- Goulds
- Hialeah
- Hialeah Gardens
- Homestead
- Homestead Base
- Indian Creek
- Islandia
- Ives Estates
- Kendall
- Kendall West
- Key Biscayne
- Leisure City
- Medley
- Miami
- Miami Beach
- Miami Springs
- Miramar
- Naranja
- North Bay Village
- North Key Largo
- North Miami
- North Miami Beach
- Ojus
- Olympia Heights
- Pembroke Park
- Pinecrest
- Richmond Heights
- Richmond West
- South Miami
- South Miami Heights
- Sunny Isles Beach
- The Crossings
- University Park
- Westchester
- West Miami
- West Park
- Westview
- Westwood Lakes
Neighborhoods in Palmetto Bay, FL
Palmetto Bay rent to own homesPopular Zip Codes in Palmetto Bay, FL
33158 rent to own homes 33257 rent to own homes 33157 rent to own homesBuying a Home in Palmetto Bay, FL
Palmetto Bay, FL is seeing rapid growth and Palmetto Bay, FL's' housing market remains not optimal with an average home price that is 169% above the 2024 national average. Palmetto Bay, FL is part of Miami-Dade county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Miami-Dade is 1.02% which is above the national average, which is 0.99%.
Median Home Price in Palmetto Bay, FL
Median Rent in Palmetto Bay, FL
Top 6 Reasons to Move to Palmetto Bay, FL
Beachside living! Just west of Biscayne Bay, Palmetto Bay is blessed with miles of access to the year-round warm waters of the area's beaches. The average high in January, the coldest month, is still 76 degrees. Palmetto Bay's weather makes for inviting outdoor wintertime activities, like the Holiday Bay Cruise, a local favorite that disembarks from the historic Deering Estate.
Proximity to Miami! Despite the village feel, Palmetto Bay is a mere 40-minute drive to the hustle of downtown Miami and South Beach. This is great for Miami commuters, who make up a strong proportion of Palmetto Bay residents, but locals know that Palmetto Bay has so much to offer that a trip to Miami is often unnecessary. Example? Bistro Foly, a local restaurant specializing in simple French cuisine.
Excellent schools! Palmetto Bay's schools, part of the Dade County School system, are very highly regarded. Examples of excellence include Howard Drive Elementary and Coral Reef Elementary, a 5 Star Award of Excellence School.
Enjoy the outdoors! Palmetto Bay is a mere six miles to the Atlantic Ocean's Gulf Stream, where offshore fishermen can catch sailfish, king mackerel and mahi-mahi. Closer to shore, fitness buffs can paddle board in the calm bayside waters of Thalatta Estate, a local attraction..
Waterfront living! Not only does Palmetto Bay have beachfront property, but the canals and waterways of South Florida offer extra opportunities to live on or close to the water. Boat owners without dock access can store their boats at nearby marinas at Deering Bay Marina and Black Point Marina.
Strong rental market! Palmetto Bay, by sheer market size, is a haven for renters, who come to the area for the job opportunities in greater Dade County. Twenty percent of Palmetto Bay's homes are rentals. Apartments and rent to own homes are scattered throughout the city, but most apartment buildings are in the neighborhoods west of US-1, the area's main highway artery. These apartments are also close to a number of city parks, such as Perrine Wayside Park.