This was 28.5 percent higher than the state average of 40.5 percent. In 2020 the total municipality population reached 24,308.
95.4 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Palmetto Bay for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 757 | 4.6 |
| Regular high school diploma | 1,773 | 10.8 |
| GED or alternative credential | 147 | 0.9 |
| Some college, less than 1 year | 832 | 5.1 |
| Some college, 1 or more years, no degree | 1,570 | 9.6 |
| Associate's degree | 1,558 | 9.5 |
| Bachelor's degree | 5,379 | 32.9 |
| Master's degree | 2,637 | 16.1 |
| Professional school degree | 1,162 | 7.1 |
| Doctorate degree | 549 | 3.4 |
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