Palm City, Florida Housing Market Prices
Palm City Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 5% below the Florida median$296,492
-
Median rent 21% above the Florida median$2,013
Housing Market Overview
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $296,492 | $311,338 | $248,835 |
| Price Trend (Annual %) | 15.1% | 11.2% | 7.5% |
| Median Gross Rent | $2,013 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Palm City is about 5% lower than in Florida. Rent is about 21% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Palm City, up about 15.1% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Palm City rose about 55.5% between 2015 and 2024, from $1,294 to $2,013. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 2.4 yearly household incomes in Palm City.
Buying the median-priced home in Palm City costs roughly 12.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Palm City. The price-to-rent ratio in Florida is about 15.6.
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $296,492 | $311,338 | $248,835 |
| Median Household Income | $125,476 | $74,580 | $80,455 |
| Price-to-Income Ratio | 2.4 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Palm City rose about 80.4%, while median household income rose about 60.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 80.0% | 57.7% | 58.5% |
| Rental Rate | 9.2% | 27.7% | 31.2% |
| Vacancy Rate | 10.8% | 14.6% | 10.2% |
| Median Tenure (years) | 13.0 | 13.0 | 15.0 |
| Median Year Moved In | 2013 | 2013 | 2011 |
Palm City has a homeownership rate of 80.0%, higher than the Florida average of 57.7%. Its housing vacancy rate is 10.8%, compared with 14.6% in Florida.
Housing Stock
| Metric | Palm City | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1995 | 1988 | 1978 |
| Median Number of Rooms | 6.3 | 5.2 | 5.5 |
The typical housing unit in Palm City was built around 1995. On average, 2.5 people live in a home with about 6.3 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Palm City, Florida.
What is the median home price in Palm City, Florida?
The median home price in Palm City, Florida is $296,492, lower than the Florida average of $311,338.
What is the average home price in Palm City, Florida?
The typical home price in Palm City, Florida, reported as the median sale price, is $296,492. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Palm City, Florida?
The median gross rent in Palm City, Florida is $2,013 per month, higher than the Florida average of $1,668.
What was the median gross rent in Palm City in 2020?
In 2020, the median gross rent in Palm City, Florida was $1,740 per month.
What is the price-to-rent ratio in Palm City, Florida?
The price-to-rent ratio in Palm City, Florida is about 12.3, meaning it would take roughly 12.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Palm City.
Are home prices or rent rising faster in Palm City, Florida?
Both home prices and rent are rising in Palm City, up about 15.1% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Palm City, Florida?
80.0% of households in Palm City, Florida own their home, higher than the Florida average of 57.7%.
What is the vacancy rate in Palm City, Florida?
The housing vacancy rate in Palm City, Florida is 10.8%, lower than the Florida average of 14.6%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →