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City Report · FL

Palatka

Pop. 10,650·290th most expensive in Florida·One of the most affordable rental markets in the US
Median rent (all units)
$1,381/mo
Year-over-Year
-1.6%
Month-over-Month
+0.1%
vs US Median
-$581
Stable (Monthly)
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Most AffordableMost Expensive
Palatka · $1,381
More affordable than 83% of US cities · National median $1,962/mo
Affordability
52% of income
EXPENSIVE
0%30% benchmark60%+

At $1,381/mo, rent takes about 52% of the local median household income, well above the 30% benchmark.

Income to afford
$55,000/yr
Local median income
$32,021/yr
Based on the 30%-of-income rule using Palatka's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$780
1 BR
$790
2 BR
$1,030
3 BR
$1,310
4 BR+
$1,370
Fair Market Rent (HUD)
$1,030/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,381 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$16,572/yr
At $1,381/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-1.6% YoY, +0.1% MoM), not inventory.
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Demographics

Who lives here

Palatka, FL is roughly split between renters and owners, has a large share of families with children, has a median income below the national average, 10.7% of residents hold a bachelor's degree or higher.

Population
10,650
Median income
$32,021
Median age
35.3
Renters
49.2%
Age distribution
27.7%
21.4%
20.2%
12.1%
18.6%
Under 1827.7%
18–3421.4%
35–5420.2%
55–6412.1%
65+18.6%
Gender
44.2%
55.8%
Male44.2%
Female55.8%
Race & ethnicity
41.4%
46.5%
White41.4%
Black46.5%
Hispanic9.1%
Other2.8%
Education (25+)
22.3%
36.8%
30.3%
No HS diploma22.3%
HS diploma36.8%
Some college30.3%
Bachelor's+10.7%
Housing tenure
50.8%
49.2%
Owner50.8%
Renter49.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Palatka, FL has changed in 5 years

Income
$28,082 → $32,021
up 14.0%
Population
10,399 → 10,650
up 2.4%
Renter share
52.7% → 49.2%
-3.5 pts
Bachelor's+
11% → 10.7%
-0.3 pts
Median age
37.4 → 35.3
-2.1 yrs

On the earnings side, the typical household in Palatka, FL now reports about $32,021, up from $28,082 in 2021. The population has grown by 2.4% since 2021, moving from about 10,399 residents to roughly 10,650. Renters now make up 49.2% of households, compared with 52.7% five years ago.

Community

Discussions about Palatka

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View Palatka rent history (2015–2026) →
Salary vs rent

Can you afford rent in Palatka on your salary?

At $1,381/mo, how Palatka rent compares to typical pay (30% rule).

By apartment size

Palatka rent by bedroom count

Median rent for each apartment size in Palatka. Click any size for full breakdown.

Local insights

Tips for renters in Palatka

About renting in Palatka, FL

Last updated: August 17, 2026

The median rent in Palatka is $1,381/mo as of August 2026. A studio apartment averages $780/mo while a 2-bedroom runs $1,030/mo. One-bedroom apartments average $790/mo and 3-bedroom units go for $1,310/mo.

At 52% of local median household income ($32,021/yr), Palatka ranks as expensive compared to the national benchmark of 30%. Rents have decreased 1.6% over the past year.

FAQ

Frequently asked questions

Is Palatka an affordable city for renters?

Palatka is considered expensive for renters. At $1,381/mo, rent takes approximately 52% of the local median household income ($32,021/yr). The standard benchmark is 30%. Palatka significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Palatka?

To keep rent at or below 30% of gross income, you would need to earn at least $55,000/year (~$26/hour full-time) to afford the median rent of $1,381/mo in Palatka. The local median household income is $32,021/yr, meaning the typical Palatka household falls short of that threshold.

Is rent going up or down in Palatka?

Rent in Palatka has decreased 1.6% over the past year as of August 2026, offering some relief compared to 12 months ago.

How does Palatka rent compare to other cities in Florida?

Palatka is one of the more affordable cities in Florida for rent, ranking #290 out of 291 tracked cities at $1,381/mo.

What percentage of Palatka residents rent vs. own?

According to Census data, approximately 49.2% of Palatka households are renters, while 50.8% are owner-occupied. Palatka leans toward homeownership, which can mean a smaller rental inventory.

How does Palatka rent compare to the national average?

Palatka's median rent of $1,381/mo is $581 (30%) below the US national median of $1,962/mo. Within Florida, it ranks #290 out of 291 tracked cities.
Income Affordability
52%
EXPENSIVE

At $1,381/mo, rent takes ~52% of Palatka's median household income ($32,021/yr). The standard benchmark is 30%.

Palatka 52%Benchmark 30%
State income taxNone
Run the Palatka affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Palatka, FL

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