Living in Palermo, Maine
Cost of living, income, home prices, rent and demographics of Palermo · Census data 2020–2024
Palermo has 1,473 residents with a median age of 43.4. The median household income is $89,095 (19% higher than the Maine median), the median home value is $259,700, the median rent is $1,235/month.
Palermo is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Palermo at a glance
- Population
- 1,473
- Median age
- 43.4State: 44.8
- Median household income
- $89,095State: $74,733
- Median home value
- $259,700State: $296,600
- Median rent
- $1,235/moState: $1,139
- Homeowners
- 91.2%
- Bachelor's degree or higher
- 31.7%
- Average commute
- 31 min
Is Palermo a good place to live?
Pros: Median household income 19% higher than the Maine median; home values 12% lower than the state median; unemployment of 2.3%; a poverty rate of 4.8%.
Cons: An average commute of 31 minutes.
The weather is best in June to September.
Cost of living in Palermo
Housing is the biggest part of the cost of living. In Palermo the median home value is $259,700, 22% lower than the U.S. median. Renters pay a median of $1,235 per month, which is 31.8% of household income. Homeowners with a mortgage pay $1,706 a month in housing costs.
Palermo median household income
The median household income in Palermo is $89,095 and the income per person is $41,438. 4.8% of residents live below the poverty line (Maine: 10.7%).
Housing in Palermo: homes for sale and rent
- Housing units
- 994
- Owner-occupied
- 91.2%
- Renter-occupied
- 8.8%
- Vacant
- 33.9%Includes seasonal homes
- Median year built
- 1988
- Average household size
- 2.24
33.9% of homes are vacant most of the year, a sign that Palermo has many vacation and second homes.
Palermo demographics
- Population
- 1,473
- Median age
- 43.4
- Under 18
- 18.1%
- 65 and older
- 21.2%
- Households
- 657
- Foreign-born
- 1.5%
- Veterans
- 8.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Palermo ›
Education in Palermo
31.7% of adults 25 and older in Palermo have a bachelor's degree or higher (Maine: 36.2%), and 11.1% have a graduate or professional degree.
Jobs and commute in Palermo
- Unemployment rate
- 2.3%State: 3.8%
- Average commute
- 31 minState: 25 min
- Work from home
- 18.8%
- Drive alone
- 68.1%
- Public transit
- 0.8%
- Walk to work
- 2%
- Homes with broadband
- 88.9%
Palermo vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palermo | 1,473 | $89,095 | $259,700 | $1,235 |
| Liberty | 969 | $71,146 | $229,600 | $559 |
| China | 4,526 | $96,309 | $240,000 | — |
| Montville | 907 | $65,735 | $221,600 | $847 |
| Albion | 2,204 | $62,361 | $230,900 | — |
| Somerville | 837 | $71,250 | $218,100 | $1,583 |
| Freedom | 670 | $64,861 | $190,600 | — |
| Windsor | 2,690 | $63,178 | $228,800 | $1,265 |
| Washington | 1,624 | $59,861 | $195,200 | $1,036 |
More for people moving to Palermo
Palermo ZIP code ›Weather and climate ›Living in Palermo: FAQ
What is the median household income in Palermo, ME?
The median household income in Palermo is $89,095, 19% higher than the Maine median of $74,733 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Palermo?
The median home value in Palermo is $259,700, compared with $296,600 in Maine.
How much is rent in Palermo?
The median gross rent in Palermo is $1,235 per month, about 31.8% of household income.
Is Palermo, ME a good place to live?
Pluses: median household income 19% higher than the Maine median; home values 12% lower than the state median; unemployment of 2.3%; a poverty rate of 4.8%. Minuses: an average commute of 31 minutes.
What is the median age in Palermo?
The median age in Palermo is 43.4 years (Maine: 44.8).
How long is the commute in Palermo?
The average commute to work in Palermo is 31 minutes; 18.8% of workers work from home.
What is the unemployment rate in Palermo?
The unemployment rate in Palermo is 2.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palermo?
31.7% of adults in Palermo 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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