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Affordable
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These days, finding an affordable place to live in the Palermo area can be challenging. Home prices in Palermo are now at a median cost of $121,289, lower than the Illinois average of $300,242.
The average cost of rent is $806/mo in Palermo, primarily driven by the current value of real estate in the Palermo area. In Palermo, 20.62% of households rent, and 60.67% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palermo is $6,488 per month. Households that rent pay about 12.43% of their income on rent here. Palermo’s most expensive areas are in the northern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Allerton, IL: higher priced homes
- Hume, IL: less expensive homes
- Sidell, IL: less expensive homes
- Broadlands, IL: higher priced homes
- Newman, IL: equally priced homes
- Metcalf, IL: less expensive homes
- Longview, IL: higher priced homes
- Jamaica, IL: higher priced homes
- Indianola, IL: less expensive homes
- Murdock, IL: equally priced homes
Cities with Similar Populations
- Oscar, OK: less expensive homes
- Rimer, PA: higher priced homes
- Pahrump, CA: less expensive homes
- Ozark, MI: higher priced homes
- Oxford, WV: higher priced homes
- Owanka, SD: higher priced homes
- Overview, PA: higher priced homes
- Ottawa, PA: higher priced homes
- Oswego, IN: higher priced homes
- Robe, WA: higher priced homes
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