Palmer Ranch, Sarasota, FL—34238
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palmer Ranch, Sarasota, FL
As of Oct '25, the median home price in Palmer Ranch, Sarasota, FL is $502,000, with a year-over-year change of -9.4%. This indicates that home prices in Palmer Ranch, Sarasota, FL are decreasing. According to Zillow, the 1-year price projection is -0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $502,000 | -9.4% |
| Single Family | $594,000 | -8.8% |
| Condos | $272,000 | -10.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $153,000 | -15.9% |
2 Bed | $345,000 | -10.6% |
3 Bed | $559,000 | -9.0% |
4 Bed | $733,000 | -9.6% |
| 5 Bed | $874,000 | -9.1% |
% of Housing Stock
Rental Trends — Palmer Ranch, Sarasota, FL
As of July '25, Rentcast reports the average rent in Palmer Ranch, Sarasota, FL is $3,290, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Palmer Ranch, Sarasota, FL is 1-bedrooms: $1,570, 2-bedrooms: $3,260, 3-bedrooms: $3,360, 4-bedrooms: $4,190. The most common rental property sizes in Palmer Ranch, Sarasota, FL are 2-bedroom and 1-bedroom, accounting for 49.8% and 26.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $3,290 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,550 | $1,570 |
| 2 Bed Rent | $2,500 | $3,260 |
| 3 Bed Rent | $2,900 | $3,360 |
| 4 Bed Rent | $3,700 | $4,190 |
% of Rental Stock
Property Listings — Palmer Ranch, Sarasota, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmer Ranch, Sarasota, FL is 86. This is a increase of 15.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $497,000 | 2.0% |
Listing Count | 286 | 9.0% |
| Listings as % of Homes | 1.4% | 9.0% |
Days on Market | 86 | 15.0% |
Demographics — Palmer Ranch, Sarasota, FL
As of the latest ACS Survey released in 2023, Palmer Ranch, Sarasota, FL has a population of 22,800, which has increased by 17.8% over the past 5 years. Palmer Ranch, Sarasota, FL is a less popular place for families, as children make up 10.4% of the population. The area has a highly educated workforce, with 54.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,800 | 17.8% |
% Under 18 | 10.4% | 7.2% |
% Seniors | 47.3% | -3.9% |
% WFH | 20.8% | 65.1% |
% w/ College Degree | 54.5% | 2.8% |
As of the latest ACS Survey released in 2023, Palmer Ranch, Sarasota, FL is a predominantly white area, with 86.1% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Palmer Ranch, Sarasota, FL is hispanic, making up 6.6% of the population. Foreign-born residents account for 15.3% of the population in Palmer Ranch, Sarasota, FL, and this percentage has increased by 35.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.1% | -5.5% |
% Black | 3.6% | 3,500.0% |
% Hispanic | 6.6% | 15.8% |
% Asian | 2.6% | 85.7% |
% Foreign Born | 15.3% | 35.4% |
Mortgage and Risk — Palmer Ranch, Sarasota, FL
According to HUD data as of 2023, there were 570 mortgage originations in Palmer Ranch, Sarasota, FL, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Palmer Ranch, Sarasota, FL. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 570 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Palmer Ranch, Sarasota, FL
As of 2024, the percent of homes in Palmer Ranch, Sarasota, FL under the Section 8 program is 0.8%. 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. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Palmer Ranch, Sarasota, FL, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 0.8% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $470 | $1,550 | $2,020 |
| 2 Bedroom | -$140 | $2,500 | $2,360 |
| 3 Bedroom | $200 | $2,900 | $3,100 |
| 4 Bedroom | $10 | $3,700 | $3,710 |
Affordability — Palmer Ranch, Sarasota, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $502,000 |
| Median Household Income | $94,600 |