Palmetto Estates, FL
Population 16,587 · Florida
About Palmetto Estates, FL
Palmetto Estates is a mid-sized city located in Florida with a population of 16,587 residents according to the latest US Census Bureau American Community Survey data. The median household income is $82,199 per year, which is 9% above the national median of $75,149. The median age of 41.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Palmetto Estates features a median home value of $412,200, which is 68% above the national median of $244,900. This places Palmetto Estates in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,015, 73% above the national average of $1,163/month. Of the 4,253 total housing units, 89% are owner-occupied (3,774 units) and 11% are renter-occupied (458 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palmetto Estates shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 10.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palmetto Estates have an average one-way commute time of 35.2 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
27.5% of Palmetto Estates residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.4% White, 0.2% Hispanic or Latino, 2.2% Black or African American, and 15.5% Asian residents, with 49.9% of the population being foreign-born.
Cost of Living in Palmetto Estates, FL
Compared to national averages, Palmetto Estates has a median household income of $82,199 (9% above the national median of $75,149). Home values average $412,200, which is 68% above the national median. Monthly rent at $2,015 is 73% above the US average of $1,163. Within Florida, Palmetto Estates's income is 8% above the state average of $75,893, and home values are 17% above the state median of $353,675.
Why Live in Palmetto Estates, FL?
Palmetto Estates offers a strong local economy with a median household income of $82,199, well above the national average, and a low poverty rate of 10.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $412,200. However, Palmetto Estates’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palmetto Estates has a population of 16,587 with a median age of 41.6 years. Compare Palmetto Estates with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Palmetto Estates
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Myrtle Grove | 16,637 | $63,011 | $182,600 | Compare |
| Lake Mary | 16,724 | $116,944 | $462,200 | Compare |
| Wildwood | 16,739 | $71,858 | $419,700 | Compare |
| Three Lakes | 16,426 | $91,364 | $434,800 | Compare |
| Brownsville | 16,391 | $38,460 | $285,100 | Compare |
| Vero Beach | 16,785 | $67,351 | $392,500 | Compare |
| Lake Wales | 16,365 | $55,799 | $225,900 | Compare |
| Mount Dora | 16,812 | $69,931 | $316,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palmetto Estates With Other Cities
Frequently Asked Questions about Palmetto Estates
What is the population of Palmetto Estates, FL?
The population of Palmetto Estates, FL is 16,587 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Palmetto Estates?
The median household income in Palmetto Estates, FL is $82,199 per year, which is 9% above the national median of $75,149.
What is the median home value in Palmetto Estates?
The median home value in Palmetto Estates, FL is $412,200, which is 68% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palmetto Estates?
The median monthly rent in Palmetto Estates, FL is $2,015, which is 73% above the national average of $1,163/month.
What is the unemployment rate in Palmetto Estates?
The unemployment rate in Palmetto Estates, FL is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palmetto Estates, FL a good place to live?
Palmetto Estates offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 16,587 and a median age of 41.6, the city appeals to a broad range of residents.
How educated is Palmetto Estates, FL?
27.5% of residents in Palmetto Estates aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Palmetto Estates?
Key cost-of-living indicators for Palmetto Estates, FL: median home value is $412,200 (68% above national), median rent is $2,015/month, and median household income is $82,199. The home-value-to-income ratio is 5.0x, a moderate figure by national standards.
What is the poverty rate in Palmetto Estates?
The poverty rate in Palmetto Estates, FL is 10.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Palmetto Estates, FL?
Palmetto Estates's population is 0.4% White, 0.2% Hispanic or Latino, 2.2% Black or African American, 15.5% Asian, and 32.2% two or more races. 49.9% of residents are foreign-born.