Quick facts: Palmetto, FL

Quick Facts

105.0
Cost of Living
above US average
13,614
Population
30.48
Crime Rate per 1000
above US average
$55,584
Median Income
below US average
$352,454
Median House Price
above US average
$2702.6
Average Rent
above US average
10%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $55,584.

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Income Needed to Buy

βœ— Stretch
$111k/year
Based on $352,454 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $111k vs median $55,584
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Income Needed to Rent

⚠ Stretch
$116k/year
Based on $2702.6/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $116k vs median $55,584
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Palmetto, FL

Palmetto, Florida, located in Manatee County, is a charming city situated on the southern banks of the Manatee River, across from Bradenton. As part of the vibrant Sarasota-Bradenton metropolitan area, Palmetto offers a blend of small-town charm and easy access to the cultural and recreational opportunities of nearby larger cities. The city features a picturesque waterfront along the river, complete with parks and walking trails. Visitors and residents can enjoy outdoor activities, including boating, fishing, and picnicking. Palmetto is also home to a burgeoning arts scene, with various galleries and community events that showcase local talent. Palmetto hosts several annual festivals that celebrate its rich heritage, such as the Palmetto Fair and the Manatee Riverwalk. The city has a warm, subtropical climate, making it an inviting destination year-round. Historically, Palmetto was once a railroad town and has since developed into a residential community with a diverse population. With its growing economy, friendly atmosphere, and prime location, Palmetto is an ideal spot for families, retirees, and anyone looking to enjoy the beautiful Gulf Coast of Florida.

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