Living in Palo, Iowa
Cost of living, income, home prices, rent and demographics of Palo · Census data 2020–2024
Palo has 1,438 residents with a median age of 32.7. The median household income is $106,375 (42% higher than the Iowa median), the median home value is $282,400, the median rent is $717/month.
Palo is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Palo at a glance
- Population
- 1,438
- Median age
- 32.7State: 38.6
- Median household income
- $106,375State: $75,059
- Median home value
- $282,400State: $208,000
- Median rent
- $717/moState: $972
- Homeowners
- 97.5%
- Bachelor's degree or higher
- 27.2%
- Average commute
- 28 min
Is Palo a good place to live?
Pros: Median household income 42% higher than the Iowa median; unemployment of 1.9%; a poverty rate of 5.5%.
Cons: Home values 36% higher than the state median; an average commute of 28 minutes.
The weather is best in May and July to September.
Cost of living in Palo
Housing is the biggest part of the cost of living. In Palo the median home value is $282,400, 15% lower than the U.S. median. Renters pay a median of $717 per month, which is 25% of household income. Homeowners with a mortgage pay $1,942 a month in housing costs.
Palo median household income
The median household income in Palo is $106,375 and the income per person is $40,829. 5.5% of residents live below the poverty line (Iowa: 11.1%).
Housing in Palo: homes for sale and rent
- Housing units
- 484
- Owner-occupied
- 97.5%
- Renter-occupied
- 2.5%
- Vacant
- 1.7%Includes seasonal homes
- Median year built
- 2006
- Average household size
- 3.02
Palo demographics
- Population
- 1,438
- Median age
- 32.7
- Under 18
- 35.3%
- 65 and older
- 7.1%
- Households
- 476
- Foreign-born
- 1.3%
- Veterans
- 5.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Palo ›
Education in Palo
27.2% of adults 25 and older in Palo have a bachelor's degree or higher (Iowa: 31.4%), and 5.2% have a graduate or professional degree.
Jobs and commute in Palo
- Unemployment rate
- 1.9%State: 3.6%
- Average commute
- 28 minState: 20 min
- Work from home
- 14.6%
- Drive alone
- 79.5%
- Public transit
- 0%
- Walk to work
- 0.4%
- Homes with broadband
- 97.5%
Palo vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palo | 1,438 | $106,375 | $282,400 | $717 |
| Shellsburg | 868 | $70,179 | $175,800 | $967 |
| Hiawatha | 7,206 | $66,270 | $216,900 | $855 |
| Atkins | 2,225 | $112,138 | $314,900 | $604 |
| Robins | 3,332 | $122,262 | $413,400 | $956 |
| Center Point | 2,562 | $95,192 | $212,400 | $798 |
| Cedar Rapids | 137,264 | $70,424 | $187,100 | $967 |
| Fairfax | 2,900 | $114,375 | $274,500 | $1,366 |
| Newhall | 996 | $67,443 | $186,300 | $642 |
More for people moving to Palo
Palo ZIP code ›Weather and climate ›Living in Palo: FAQ
What is the median household income in Palo, IA?
The median household income in Palo is $106,375, 42% higher than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Palo?
The median home value in Palo is $282,400, compared with $208,000 in Iowa.
How much is rent in Palo?
The median gross rent in Palo is $717 per month, about 25% of household income.
Is Palo, IA a good place to live?
Pluses: median household income 42% higher than the Iowa median; unemployment of 1.9%; a poverty rate of 5.5%. Minuses: home values 36% higher than the state median; an average commute of 28 minutes.
What is the median age in Palo?
The median age in Palo is 32.7 years (Iowa: 38.6).
How long is the commute in Palo?
The average commute to work in Palo is 28 minutes; 14.6% of workers work from home.
What is the unemployment rate in Palo?
The unemployment rate in Palo is 1.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palo?
27.2% of adults in Palo have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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