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Palermo

Learn about the people, housing, costs and businesses in Palermo, California

Median Home$275,912
Median Rent$1,153/month
Population4,964
Leading IndustriesConstruction · Wholesale Trade · Agriculture & Mining7% construction
Home Value Growth+5.4% over 2 years
Retirees24% of residentsslightly above average
Homeowners68% of occupied units
NotableVeteran Community10% of residents · top 14% nationally
Palermo
CA

Frequently Asked Questions

What are today's mortgage rates in Palermo?

As of today, the 30-year fixed mortgage rate for Palermo is approximately 6.895% (6.931% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Palermo?

The median home value in Palermo is $276k. The median monthly rent is $1,153. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Palermo?

Home values in Palermo have increased 5.4% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Palermo?

Based on a typical all-in ownership cost of $1,079/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $46k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Palermo is $51k/year.

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What industries drive the economy in Palermo?

The largest employment sectors in Palermo are public administration (17%) and wholesale trade (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.