A typical Palermo home is worth roughly $495,000
The median sale price was $485,000 in May 2026.
Only 1 sale in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
What kind of housing town is Palermo?
Read from the numbers below. The page puts what stands out first.
98% of Palermo households own their home
Half of Palermo’s homes were built before 1983.
New Jersey: 64% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Home prices up 62% in 5 years
The federal house price index for the ZIP codes around Palermo rose 62% over the past 5 years, about the same as across New Jersey. Last year prices fell 3.7%. Carrying the Census median home value forward with that index puts the typical Palermo home at roughly $495,000 today.
Carrying the Census median forward with the index puts a typical home at about $495K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Palermo, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 4.9 years of income
More than across New Jersey (4.4 years). Try your own numbers below.
That’s $141K short of a typical Palermo home.
A two-bedroom rents for about $2,300 a month here, $990 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Palermo’s typical property tax (1.69% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $2,300
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Cape May County, NJ HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Palermo vs. its neighbors
Palermo is the 2nd least expensive of 3 neighboring towns. Tap one to see its housing page.
Compare more
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Palermo buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.