How much does it cost to rent in Palmetto, FL?

As of July 2026, the median monthly rent in Palmetto, FL is $2,223. This figure is based on aggregated data from public sources and community-submitted rents.

Is Palmetto cheaper than other Florida cities?

Palmetto falls in the middle range for Florida, ranking #126 out of 288 cities at $2,223/mo.

When was Palmetto rent data last updated?

Palmetto rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Is Palmetto a renter's market or a landlord's market?

Based on RentDataNow's Rent Market Meter, Palmetto is currently a renter's market. Rents are softening (down 1.2% YoY), so renters have negotiating leverage. The meter is derived from rent-price momentum (year-over-year and month-over-month change), not inventory levels.

City Report · FL

Palmetto

Name: Average Rent Prices in Palmetto, FL
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 13,588·126th most expensive in Florida·Rental market data updated monthly for Palmetto, FL

Median rent (all units)

$2,223/mo

Year-over-Year

-1.2%

Month-over-Month

-1.0%

vs US Median

+$258

Falling (Monthly)

Be the first to discuss Palmetto rents ↓

Most AffordableMost Expensive

Palmetto · $2,223

More expensive than 70% of US cities · National median $1,965/mo

Rent Reality Score

83/100

Great value

OverheatedFairGreat value

Rents are 16% below what Palmetto's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$2,223/mo

Expected by trend

$2,658/mo

The Rent Reality Score compares today's median rent to where Palmetto's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,190

1 BR

$1,480

2 BR

$1,730

3 BR

$2,270

4 BR+

$2,720

Research median

$1,730/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$26,676/yr

At $2,223/mo median

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 1.2% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-1.2% YoY, -1.0% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Palmetto, FL is majority owner-occupied, has a large retiree population, has a median income below the national average, 28.1% of residents hold a bachelor's degree or higher.

Population

13,588

Median income

$62,621

Median age

49.8

Renters

31.2%

Age distribution

20.1%

15.8%

19.3%

14.8%

30%

Under 1820.1%

18–3415.8%

35–5419.3%

55–6414.8%

65+30%

Gender

47.4%

52.6%

Male47.4%

Female52.6%

Race & ethnicity

66.1%

23.7%

White66.1%

Black11.1%

Hispanic23.7%

Education (25+)

12.9%

28.2%

30.8%

28.1%

No HS diploma12.9%

HS diploma28.2%

Some college30.8%

Bachelor's+28.1%

Housing tenure

68.8%

31.2%

Owner68.8%

Renter31.2%

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

2021 vs 2026

How Palmetto, FL has changed in 5 years

Rent

$1,655 → $2,223

up 34.3%

Income

$50,762 → $62,621

up 23.4%

Population

13,304 → 13,588

up 2.1%

Renter share

36.8% → 31.2%

-5.6 pts

Bachelor's+

23.5% → 28.1%

+4.6 pts

Median age

49.1 → 49.8

+0.7 yrs

Five years ago, renters in Palmetto, FL paid around $1,655 a month. That figure now sits near $2,223, up 34.3% from the 2021 baseline. Local incomes tracked alongside that move, going from a median of $50,762 in 2021 to $62,621 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Palmetto, FL adding about 284 residents over the five-year window, up 2.1% on net. The renter share has eased from 36.8% to 31.2%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 23.5% to 28.1% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Palmetto, FL market of 2021.

Community

Discussions about Palmetto

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View Palmetto rent history (2015–2026) →

Salary vs rent

Can you afford rent in Palmetto on your salary?

At $2,223/mo, how Palmetto rent compares to typical pay (30% rule).

Registered Nurse

Avg $87,866/yr · Rent = 30.4% income

stretched

Elementary School Teacher

Avg $62,384/yr · Rent = 42.8% income

rent-burdened

Police Officer

Avg $71,861/yr · Rent = 37.1% income

stretched

Software Developer

Avg $128,442/yr · Rent = 20.8% income

affordable

Lawyer

Avg $164,117/yr · Rent = 16.3% income

very comfortable

Firefighter

Avg $58,413/yr · Rent = 45.7% income

rent-burdened

Truck Driver

Avg $52,740/yr · Rent = 50.6% income

severely rent-burdened

Electrician

Avg $65,007/yr · Rent = 41% income

rent-burdened

By apartment size

Palmetto rent by bedroom count

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

Local insights

Tips for renters in Palmetto

About renting in Palmetto, FL

Last updated: July 20, 2026

The median rent in Palmetto is $2,223/mo as of July 2026. A studio apartment averages $1,190/mo while a 2-bedroom runs $1,730/mo. One-bedroom apartments average $1,480/mo and 3-bedroom units go for $2,270/mo.

At 43% of local median household income ($62,621/yr), Palmetto ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.2% over the past year.

FAQ

Frequently asked questions

Is Palmetto an affordable city for renters?

Palmetto is considered stretched for renters. At $2,223/mo, rent takes approximately 43% of the local median household income ($62,621/yr). The standard benchmark is 30%. Palmetto significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Palmetto?

To keep rent at or below 30% of gross income, you would need to earn at least $89,000/year (~$43/hour full-time) to afford the median rent of $2,223/mo in Palmetto. The local median household income is $62,621/yr, meaning the typical Palmetto household falls short of that threshold.

Is rent going up or down in Palmetto?

Rent in Palmetto has decreased 1.2% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Palmetto rent compare to other cities in Florida?

Palmetto is middle-of-the-pack for Florida for rent, ranking #126 out of 288 tracked cities at $2,223/mo.

Which nearby cities are cheaper to rent in than Palmetto?

Several nearby cities have lower median rents than Palmetto ($2,223/mo): Bradenton ($1,850/mo), Ellenton ($2,014/mo), Ruskin ($2,157/mo).

What percentage of Palmetto residents rent vs. own?

According to Census data, approximately 31.2% of Palmetto households are renters, while 68.8% are owner-occupied. Palmetto leans toward homeownership, which can mean a smaller rental inventory.

How does Palmetto rent compare to the national average?

Palmetto's median rent of $2,223/mo is $258 (13%) above the US national median of $1,965/mo. Within Florida, it ranks #126 out of 288 tracked cities.

Income Affordability

43%

STRETCHED

At $2,223/mo, rent takes ~43% of Palmetto's median household income ($62,621/yr). The standard benchmark is 30%.

Palmetto 43%Benchmark 30%

State income taxNone

Run the Palmetto affordability calculator →

Nearby cities