ZIP 34221
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12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 34221 usually run 0.9% below trend in February and 0.7% above it in November, about $34 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 34221 is 3.6% below its high of $2,236 in March 2025, at $2,155 as of September 2026.
Rent in ZIP 34221 changed -1.8% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in ZIP 34221 rose 60% while median household income rose 34% ($57,983 to $77,712). Rent outpaced income.
Rent in ZIP 34221 is 51.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has fallen 2 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($77,712) is $1,943 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,820); a 3-bedroom is $2,360.
ZIP 34208, 7 miles away, rents for 15% less ($1,826/mo), about $3,900 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 34221. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 34221 (Palmetto, FL) is majority owner-occupied, has a large retiree population, 29.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 34221 in Palmetto, FL has changed in 5 years
Since 2021, the typical rent in ZIP 34221 in Palmetto, FL has increased from $1,619 to $2,155, a 33.1% change over five years. Household income in the area moved from $63,311 to $77,712 across the same window, up 22.7% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 9.1% since 2021, moving from about 51,531 residents to roughly 56,208. Renters now make up 17.1% of households, compared with 21.3% five years ago. College-educated residents now make up 29.6% of adults here, versus 25.6% in 2021. Reading these numbers side by side helps frame whether current listings in ZIP 34221 in Palmetto, FL look reasonable against where the market sat half a decade ago.
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Tips for renters in ZIP 34221
Last updated: October 17, 2026
ZIP code 34221 covers Palmetto, FL. The median rent here is $2,155/mo as of October 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,820/mo.
At 33% of local median household income ($77,712/yr), ZIP 34221 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.8% over the past year.
Frequently asked questions
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How does ZIP 34221 compare to the rest of Palmetto?
At $2,155/mo, rent takes ~33% of ZIP 34221's median household income ($77,712/yr). The standard benchmark is 30%.
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