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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 $257,573, lower than the Maine average of $330,167.
The average cost of rent is $1,237/mo in Palermo, primarily driven by the current value of real estate in the Palermo area. In Palermo, 9.14% of households rent, and 36.56% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palermo is $7,375 per month. Households that rent pay about 16.78% of their income on rent here. Palermo’s most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Jones Corner, ME: equally priced homes
- Shermans Corner, ME: less expensive homes
- North Palermo, ME: less expensive homes
- Sandhill Corner, ME: less expensive homes
- South China, ME: less expensive homes
- China, ME: equally priced homes
- Liberty, ME: less expensive homes
- South Liberty, ME: less expensive homes
- Somerville, ME: less expensive homes
- Benton, ME: less expensive homes
Cities with Similar Populations
- South Newbury, NH: higher priced homes
- Hickory Corners, WI: less expensive homes
- Highpine, ME: higher priced homes
- Hornby, PA: less expensive homes
- Horntown, VA: less expensive homes
- Hulmeville, PA: higher priced homes
- Sinks Grove, WV: less expensive homes
- Sobieski, MN: equally priced homes
- South Barnstead, NH: higher priced homes
- South Madison, OH: equally priced homes
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