Palm, FL

Very High · 147

Florida · Population 25,699 · Updated March 2026

$1,965
Median Rent / Month
$117,689
Median Income
$532,100
Median Home Value
$1,856
Owner Costs / Month

Affordability

How far your income goes in Palm

20.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$23,580
Annual Rent
$0
State Income Tax
$4,576
Property Tax (est.)

Cost of Living Overview

Palm has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 147 (where 100 equals the national median), Palm residents can expect to pay median rent of $1,965/month while earning a median household income of $117,689/year.

The median home value in Palm, FL is $532,100, with typical monthly owner costs around $1,856 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Palm.

Frequently Asked Questions

Common questions about living costs in Palm

What is the cost of living in Palm, FL?
The cost of living index in Palm, FL is 147 (US average = 100). Median monthly rent is $1,965, median household income is $117,689/year, and the median home value is $532,100.
Is Palm, FL affordable?
No, Palm is more expensive than the national average with a cost index of 147. The rent-to-income ratio is 20.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Palm, FL?
The median gross rent in Palm, FL is $1,965 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,580.
What is the median household income in Palm?
The median household income in Palm, FL is $117,689 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.