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ZIP Code · FL

ZIP 34221

Part of Palmetto, FL
Pop. 56,208·Manatee County·275th most expensive ZIP in Florida
Median rent (all units)
$2,225/mo
Year-over-Year
-1.5%
Month-over-Month
-1.0%
vs US Median
+$260
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 34221 · $2,225
More expensive than 70% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,320
1 BR
$1,570
2 BR
$1,820
3 BR
$2,360
4 BR+
$2,810
Research median
$1,820/mo

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

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$26,700/yr
At $2,225/mo median
Location
StateFL
CountyManatee County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 1.5% YoY), so renters have negotiating leverage.
Based on rent-price momentum (-1.5% YoY, -1.0% MoM), not inventory.
Demographics

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.

Population
56,208
Median income
$77,712
Median age
45.5
Renters
17.1%
Age distribution
19%
19%
22.7%
13.7%
25.6%
Under 1819%
18–3419%
35–5422.7%
55–6413.7%
65+25.6%
Gender
49.4%
50.6%
Male49.4%
Female50.6%
Race & ethnicity
64.2%
12.9%
20.5%
White64.2%
Black12.9%
Hispanic20.5%
Asian1.2%
Other1.2%
Education (25+)
30.3%
30.3%
29.6%
No HS diploma9.8%
HS diploma30.3%
Some college30.3%
Bachelor's+29.6%
Housing tenure
82.9%
17.1%
Owner82.9%
Renter17.1%

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

2021 vs 2026

How ZIP 34221 in Palmetto, FL has changed in 5 years

Rent
$1,666 → $2,225
up 33.6%
Income
$63,311 → $77,712
up 22.7%
Population
51,531 → 56,208
up 9.1%
Renter share
21.3% → 17.1%
-4.2 pts
Bachelor's+
25.6% → 29.6%
+4.0 pts

Since 2021, the typical rent in ZIP 34221 in Palmetto, FL has increased from $1,666 to $2,225, a 33.6% 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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Local insights

Tips for renters in ZIP 34221

About renting in ZIP 34221

Last updated: July 20, 2026

ZIP code 34221 covers Palmetto, FL. The median rent here is $2,225/mo as of July 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,820/mo.

At 34% of local median household income ($77,712/yr), ZIP 34221 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 34221?

As of July 20, 2026, the median monthly rent in ZIP 34221 (Palmetto, FL) is $2,225. This is based on aggregated data from public sources and community submissions.

How does ZIP 34221 rent compare to the US average?

ZIP 34221's median rent of $2,225/mo is $260 (13%) above the US national median of $1,965/mo.

How does ZIP 34221 compare to other ZIPs in Florida?

ZIP 34221 falls in the middle range for Florida, ranking #275 out of 662 ZIPs at $2,225/mo.

How much income do you need to rent in ZIP 34221?

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 $2,225/mo in ZIP 34221. The local median household income is $77,712/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 34221?

Rent in ZIP 34221 has decreased 1.5% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 34221 an affordable place to rent?

ZIP 34221 is considered moderate for renters. At $2,225/mo, rent takes approximately 34% of the local median household income ($77,712/yr). The standard benchmark is 30%. ZIP 34221 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 34221 residents rent vs. own?

According to Census data, approximately 17.1% of ZIP 34221 households are renters, while 82.9% are owner-occupied. ZIP 34221 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 34221 compare to the rest of Palmetto?

ZIP 34221 is pricier than Palmetto as a whole. At $2,225/mo, it's $2 above the Palmetto citywide median of $2,223/mo.

When was rent data for ZIP 34221 last updated?

Rent data for ZIP 34221 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
34%
MODERATE

At $2,225/mo, rent takes ~34% of ZIP 34221's median household income ($77,712/yr). The standard benchmark is 30%.

ZIP 34221 34%Benchmark 30%
State income taxNone
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