Palmetto, FL 34221 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Palmetto, FL—34221

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$353,000

6.0% YoY Growth

Household Income

$74,300

39.4% YoY Growth

Days on Market

18.0% Longer YoY

Home Price Forecast

-2.2%

Median Rent

$2,420

2.0% YoY Growth

1-Bed Rent

$1,580

5.5% YoY Growth

2-Bed Rent

$1,950

7.7% YoY Growth

3-Bed Rent

$2,340

0.8% YoY Growth

Home Price Trends — Palmetto, FL

As of May '26, the median home price in Palmetto, FL is $353,000, with a year-over-year change of -6.0%. This indicates that home prices in Palmetto, FL are decreasing. According to Zillow, the 1-year price projection is -2.2%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$353,000	-6.0%
Single Family	$355,000	-5.6%
Condos	$302,000	-7.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Palmetto, FL

As of July '25, Rentcast reports the average rent in Palmetto, FL is $2,490, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Palmetto, FL is 1-bedrooms: $1,730, 2-bedrooms: $2,150, 3-bedrooms: $2,560, 4-bedrooms: $2,630. The most common rental property sizes in Palmetto, FL are 3-bedroom and 2-bedroom, accounting for 46.9% and 30.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,420	$2,490
Studio Rent	N/A	N/A
1 Bed Rent	$1,580	$1,730
2 Bed Rent	$1,950	$2,150
3 Bed Rent	$2,340	$2,560
4 Bed Rent	$2,600	$2,630

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% of Rental Stock

Studio

4.0%

1 Bedroom

13.5%

2 Bedrooms

30.4%

3 Bedrooms

46.9%

4 Bedrooms

3.9%

5+ Bedrooms

1.2%

Property Listings — Palmetto, FL

As of May '26, Realtor.com reports that the median days on market for a home in Palmetto, FL is 69. This is a increase of 18.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$417,000	-2.0%
Listing Count	481	1.0%
Listings as % of Homes	1.3%	1.0%
Days on Market	69	18.0%

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Demographics — Palmetto, FL

As of the latest ACS Survey released in 2023, Palmetto, FL has a population of 54,900, which has increased by 24.0% over the past 5 years. Palmetto, FL is a moderately popular place for families, as children make up 18.5% of the population. The area has a moderately educated workforce, with 27.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	54,900	24.0%
% Under 18	18.5%	-5.6%
% Seniors	24.5%	0.8%
% WFH	12.8%	132.7%
% w/ College Degree	27.8%	29.9%

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As of the latest ACS Survey released in 2023, Palmetto, FL is a predominantly white area, with 59.0% of the population identifying as white. The white population has shrunk by 8.5% in the last 5 years. The second most common race or ethnicity in Palmetto, FL is hispanic, making up 22.1% of the population. Foreign-born residents account for 9.9% of the population in Palmetto, FL, and this percentage has decreased by 2.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	59.0%	-8.5%
% Black	14.5%	-3.3%
% Hispanic	22.1%	25.6%
% Asian	1.0%	-23.1%
% Foreign Born	9.9%	-2.9%

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Mortgage and Risk — Palmetto, FL

According to HUD data as of 2023, there were 2489 mortgage originations in Palmetto, FL, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Palmetto, FL. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	2,489
% Conventional Loans	64.0%
% Government Loans	36.0%
% Investor Loans	1.0%
% Second Loans	3.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Palmetto, FL

As of 2024, the percent of homes in Palmetto, FL under the Section 8 program is 6.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Palmetto, FL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	384
Total Units Section 8	248
% Rentals under Section 8	6.7%
% Occupied Section 8	84.1%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$100	$1,580	$1,480
2 Bedroom	-$220	$1,950	$1,730
3 Bedroom	-$70	$2,340	$2,270
4 Bedroom	$120	$2,600	$2,720

Palmetto, FL—34221

Key Metrics at a Glance

Home Price Trends — Palmetto, FL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palmetto, FL

% of Rental Stock

Property Listings — Palmetto, FL

Demographics — Palmetto, FL

Race and Ethnicity

Mortgage and Risk — Palmetto, FL

Mortgages

Rentals and Section 8 — Palmetto, FL

Section 8 Market Size

Section 8 Opportunity

Affordability — Palmetto, FL

Home Price to Income Ratio

Palmetto, FL — ZIP Code Boundary Map

Nearby ZIP Codes

Terra Ceia

Ellenton, FL

Bradenton, FL

Bradenton, FL

Bradenton, FL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.5
Median Home Price	$353,000
Median Household Income	$74,300

Palmetto, FL—34221

Key Metrics at a Glance

Home Price Trends — Palmetto, FL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palmetto, FL

% of Rental Stock

Property Listings — Palmetto, FL

Demographics — Palmetto, FL

Race and Ethnicity

Mortgage and Risk — Palmetto, FL

Mortgages

Rentals and Section 8 — Palmetto, FL

Section 8 Market Size

Section 8 Opportunity

Affordability — Palmetto, FL

Home Price to Income Ratio

Palmetto, FL — ZIP Code Boundary Map

Nearby ZIP Codes

Terra Ceia

Ellenton, FL

Bradenton, FL

Bradenton, FL

Bradenton, FL

Frequently Asked Questions

What is the average home price in Palmetto, FL 34221?

How have home prices in Palmetto, FL 34221 changed over the past year?

What is the home price projection for Palmetto, FL 34221?

What are the demographics of Palmetto, FL 34221?

How long does it take homes to sell in Palmetto, FL 34221?

What is the average rent price in Palmetto, FL 34221?