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These days, finding an affordable place to live in the Palmetto area can be challenging. Home prices in Palmetto are now at a median cost of $117,579, lower than the Alabama average of $228,911.
The average cost of rent is $455/mo in Palmetto, primarily driven by the current value of real estate in the Palmetto area. In Palmetto, 16.32% of households rent, and 55.40% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palmetto is $5,046 per month. Households that rent pay about 9.01% of their income on rent here. Palmetto’s most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Reform, AL: less expensive homes
- Zion, AL: higher priced homes
- Kingville, AL: equally priced homes
- Kennedy, AL: equally priced homes
- Stansel, AL: less expensive homes
- Melrose, AL: higher priced homes
- Millport, AL: equally priced homes
- Gordo, AL: higher priced homes
- Newtonville, AL: higher priced homes
- Moores Bridge, AL: higher priced homes
Cities with Similar Populations
- Hopewell, MO: higher priced homes
- Islesboro, ME: higher priced homes
- Ireland Corners, NY: higher priced homes
- Indore, WV: equally priced homes
- Indian Village, IN: higher priced homes
- Increase, MS: higher priced homes
- Huron, MO: higher priced homes
- Huntersville, TN: higher priced homes
- Howton, AL: higher priced homes
- Howardsville, VA: higher priced homes
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