Palo, IA housing market
The typical Palo home is worth about $342,000, up 4.5% in a year, 43% above the Iowa typical home.
Home values, sales, trends and how Palo compares with the towns next door — updated as new data is published.
Palo at a glance
Only 3 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value above is the steadier guide.
Typical home value, 2016–2026
Show as a table
| January | Palo | Iowa |
|---|---|---|
| 2017 | $206,000 | $147,000 |
| 2018 | $217,000 | $152,000 |
| 2019 | $226,000 | $159,000 |
| 2020 | $241,000 | $167,000 |
| 2021 | $257,000 | $179,000 |
| 2022 | $290,000 | $195,000 |
| 2023 | $307,000 | $211,000 |
| 2024 | $311,000 | $218,000 |
| 2025 | $324,000 | $228,000 |
| 2026 | $336,000 | $236,000 |
| August 2026 | $342,000 | $240,000 |
No new homes permitted in 2024
No permits for new homes were issued in Palo in 2024. The last year with any was 2023 (13 new homes).
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2024 | 0 | 0 | 0 | — |
| 2023 | 13 | 7 | 6 | $931,000 |
| 2022 | 37 | 20 | 17 | $2.7 million |
| 2021 | 7 | 7 | 0 | $569,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 19 | 19 | 0 | $1.3 million |
| 2009 | 20 | 20 | 0 | $1.4 million |
| 2008 | 15 | 15 | 0 | $1.8 million |
| 2007 | 16 | 16 | 0 | $1.7 million |
| 2006 | 24 | 24 | 0 | $2.9 million |
| 2005 | 31 | 31 | 0 | $3.7 million |
| 2004 | 25 | 25 | 0 | $2.6 million |
| 2003 | 13 | 13 | 0 | $1.3 million |
| 2002 | 7 | 7 | 0 | $846,000 |
| 2001 | 10 | 10 | 0 | $987,000 |
| 2000 | 8 | 8 | 0 | $849,000 |
Palo's permit office didn't report to the Census in 2024, so the 2024 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
3.2 years of income
The typical Palo home costs about 3.2 years of the town's median household income, about the same as across Iowa (3.2).
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,130
HUD's Fair Market Rent for a two-bedroom in Palo is $1,130 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Palo pay a median of $717, so moving in tends to cost more than staying put. A two-bedroom takes about 13% of the town's median household income.
Studio $780 · 4 bedrooms $1,800
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (52324; Cedar Rapids, IA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.