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Affordable
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These days, finding an affordable place to live in the Palo area can be challenging. Home prices in Palo are now at a median cost of $177,168, lower than the Minnesota average of $345,793.
The average cost of rent is $538/mo in Palo, primarily driven by the current value of real estate in the Palo area. In Palo, 3.68% of households rent, and 35.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palo is $6,611 per month. Households that rent pay about 8.14% of their income on rent here. Palo’s most expensive areas are in the southern 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
- Aurora, MN: less expensive homes
- Makinen, MN: higher priced homes
- Markham, MN: higher priced homes
- Hoyt Lakes, MN: less expensive homes
- Pineville, MN: equally priced homes
- Gilbert, MN: equally priced homes
- Biwabik, MN: less expensive homes
- McKinley, MN: less expensive homes
- Colby, MN: equally priced homes
- Genoa, MN: higher priced homes
Cities with Similar Populations
- Hood, VA: higher priced homes
- Jalapa, SC: less expensive homes
- Isonville, KY: less expensive homes
- Ikes Fork, WV: less expensive homes
- Hye, TX: higher priced homes
- Huddle, VA: less expensive homes
- Horn Brook, PA: higher priced homes
- Hopkins Hollow, RI: higher priced homes
- Hooven, OH: less expensive homes
- Hoople, ND: less expensive homes
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