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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 $324,283, higher than the Tennessee average of $315,131.
The average cost of rent is $1,035/mo in Palmetto, primarily driven by the current value of real estate in the Palmetto area. In Palmetto, 17.79% of households rent, and 46.84% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palmetto is $5,578 per month. Households that rent pay about 18.56% of their income on rent here. Palmetto’s most expensive areas are in the central 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
- Sims Spring, TN: equally priced homes
- Farmington, TN: less expensive homes
- Halls Mill, TN: equally priced homes
- Belfast, TN: less expensive homes
- Verona, TN: less expensive homes
- Richmond, TN: higher priced homes
- Elbethel, TN: equally priced homes
- Lewisburg, TN: less expensive homes
- Vannatta, TN: less expensive homes
- Talley, TN: less expensive homes
Cities with Similar Populations
- Idaho, OH: less expensive homes
- Silverville, PA: less expensive homes
- Silver Lake, TN: less expensive homes
- Silvara, PA: less expensive homes
- Sigurd, UT: equally priced homes
- Sidney, TX: less expensive homes
- Island Ford, VA: equally priced homes
- Iron Junction, MN: less expensive homes
- Irisburg, VA: less expensive homes
- Ione, GA: less expensive homes
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