What is the Best Neighborhoods USA ranking for Palm Island?
Palm Island is ranked #1 of 15 eligible neighborhoods in Miami Beach; #10 of 1,145 eligible neighborhoods in FL; and #353 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Palm Island
Miami Beach, FL | Miami-Dade County
Scored premium profile
Best Neighborhoods USA Index
77.9
Stability and Strength
88.4
Value Opportunity
50.5
Momentum
99.4
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Miami Beach, FL |
| County | Miami-Dade County |
| National rank | #353 of 14,967 |
| State rank | #10 of 1,145 |
| City rank | #1 of 15 |
| County rank | #1 of 81 |
| National percentile | 97.6 |
| National band | TOP_5_PERCENT |
Neighborhood Expert Opportunity
Become the Neighborhood Expert for this market
Inquire about this marketUnsold commercial placement. No local expert is currently assigned.
Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $11,450,486 |
| Year-over-year home value change | 16.7% |
| Month-over-month home value change | 1.59% |
| Home value to income ratio | 62.16 |
| Median household income | $184,205 |
| Bachelor's degree or higher | 88.3% |
| Civilian unemployment rate | 0.0% |
| Homeownership rate | 100.0% |
| Housing vacancy rate | 26.8% |
| Rent burden 30% or higher | Not available |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Palm Island
Is Palm Island one of the best neighborhoods in Miami Beach?
Palm Island has a Best Neighborhoods USA Index of 77.9 and a city ranking of #1 of 15 eligible neighborhoods in Miami Beach.
How much are homes worth in Palm Island?
The current Zillow Home Value Index for Palm Island is approximately $11,450,486.
Are home values rising or falling in Palm Island?
Zillow neighborhood values changed 16.7% year over year and 1.59% month over month.
What is the Neighborhood Momentum Score for Palm Island?
Palm Island has a Neighborhood Momentum Score of 99.4. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Palm Island?
The NDS-derived neighborhood median household income is approximately $184,205.
How affordable is Palm Island relative to household income?
The current Zillow home-value-to-household-income ratio is 62.16. Price-to-income affordability is a major Value Opportunity input.
Is Palm Island primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 100.0%.
What is the unemployment rate in Palm Island?
The NDS-derived civilian unemployment rate is approximately 0.0%.
How educated are residents of Palm Island?
Approximately 88.3% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Palm Island face high rent burden?
Approximately Not available of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Palm Island?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications14
Estimated originations6
Home-purchase applications6
Origination rate44.7%
Home-purchase share42.3%
Average application loan$1,893,537
Total application loan amount$25,680,015
National application rank#11,774 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications -25.0% YoY; originations -30.4% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.