A typical Palm Tree home is worth roughly $893,000
Home prices around Palm Tree have risen about 62% over the past 5 years. Builders were permitted 620 new homes in 2025.
What kind of housing town is Palm Tree?
Read from the numbers below. The page puts what stands out first.
620 new homes permitted in 2025
Builders were permitted 620 new homes in Palm Tree in 2025, all in buildings with two or more homes, worth about $99 million to build. That's 16 per 1,000 residents, faster than across New York (1.8).
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2025 | 620 | 0 | 620 | $99 million |
| 2024 | 692 | 0 | 692 | $116.5 million |
| 2023 | 417 | 0 | 417 | $65.6 million |
| 2022 | 0 | 0 | 0 | — |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
How Palm Tree ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
A typical home costs 17.8 years of income
More than across New York (6.1 years). Try your own numbers below.
That’s $686K short of a typical Palm Tree home.
A two-bedroom rents for about $2,140 a month here, $2,900 less than owning.
How Palm Tree ranks on affordability →
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Palm Tree’s typical property tax (0.48% 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 $2,140
Renters already here pay a median of $1,604, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
How Palm Tree ranks on rent that’s easy to afford →
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Kiryas Joel-Poughkeepsie-Newburgh, NY MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Home prices up 62% in 5 years
The federal house price index for the ZIP code around Palm Tree rose 62% over the past 5 years, faster than across New York (52%). Last year prices rose 7.4%. Carrying the Census median home value forward with that index puts the typical Palm Tree home at roughly $893,000 today.
Carrying the Census median forward with the index puts a typical home at about $893K.
How Palm Tree ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Palm Tree, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
33% of Palm Tree households own their home
Half of Palm Tree’s homes were built before 2006.
New York: 54% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Palm Tree vs. its neighbors
Palm Tree is the priciest of 3 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Palm Tree | $893K* | +7.4%† | $2,140 | 620 | $50,032 |
| Kiryas Joel | $759K* | +7.4%† | $2,140 | 308 | $50,032 |
| Monroe | $529K | +0.2% | $2,160 | 6 | $112,199 |
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 Palm Tree 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. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits 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.