Palmetto Estates, FL

Very High · 135

Florida · Population 16,587 · Updated March 2026

$2,015
Median Rent / Month
$82,199
Median Income
$412,200
Median Home Value
$1,855
Owner Costs / Month

Affordability

How far your income goes in Palmetto Estates

29.4%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$24,180
Annual Rent
$0
State Income Tax
$3,545
Property Tax (est.)

Cost of Living Overview

Palmetto Estates has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 135 (where 100 equals the national median), Palmetto Estates residents can expect to pay median rent of $2,015/month while earning a median household income of $82,199/year.

The median home value in Palmetto Estates, FL is $412,200, with typical monthly owner costs around $1,855 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.4%, Palmetto Estates falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Palmetto Estates.

Frequently Asked Questions

Common questions about living costs in Palmetto Estates

What is the cost of living in Palmetto Estates, FL?
The cost of living index in Palmetto Estates, FL is 135 (US average = 100). Median monthly rent is $2,015, median household income is $82,199/year, and the median home value is $412,200.
Is Palmetto Estates, FL affordable?
No, Palmetto Estates is more expensive than the national average with a cost index of 135. The rent-to-income ratio is 29.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Palmetto Estates, FL?
The median gross rent in Palmetto Estates, FL is $2,015 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,180.
What is the median household income in Palmetto Estates?
The median household income in Palmetto Estates, FL is $82,199 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.