Palo, IA—52324
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palo, IA
As of Oct '25, the median home price in Palo, IA is $339,000, with a year-over-year change of 3.0%. This indicates that home prices in Palo, IA are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $339,000 | 3.0% |
| Single Family | $344,000 | 3.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $326,000 | 2.8% |
4 Bed | $364,000 | 2.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palo, IA
Palo, IA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Palo, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Palo, IA is 96. This is a increase of 66.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $310,000 | 14.0% |
Listing Count | 18 | -40.0% |
| Listings as % of Homes | 1.2% | -40.0% |
Days on Market | 96 | 66.0% |
Demographics — Palo, IA
As of the latest ACS Survey released in 2023, Palo, IA has a population of 1,960, which has decreased by -8.5% over the past 5 years. Palo, IA is a popular place for families, as children make up 27.4% of the population. The area has a moderately educated workforce, with 29.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,960 | -8.5% |
% Under 18 | 27.4% | -2.5% |
% Seniors | 14.2% | 67.1% |
% WFH | 17.7% | 353.8% |
% w/ College Degree | 29.7% | 46.3% |
As of the latest ACS Survey released in 2023, Palo, IA is a predominantly white area, with 95.1% of the population identifying as white. The white population has grown by 4.0% in the last 5 years. The second most common race or ethnicity in Palo, IA is asian, making up 1.2% of the population. Foreign-born residents account for 2.7% of the population in Palo, IA, and this percentage has decreased by 34.1% 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 | 95.1% | 4.0% |
% Black | 0.4% | -42.9% |
% Hispanic | 0.8% | -42.9% |
% Asian | 1.2% | -67.6% |
% Foreign Born | 2.7% | -34.1% |
Mortgage and Risk — Palo, IA
According to HUD data as of 2023, there were 207 mortgage originations in Palo, IA, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Palo, IA. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 207 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Palo, IA
Palo, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 1.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $910 |
| 2 Bedroom | N/A | N/A | $1,200 |
| 3 Bedroom | N/A | N/A | $1,680 |
| 4 Bedroom | N/A | N/A | $2,000 |
Affordability — Palo, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $339,000 |
| Median Household Income | $109,000 |