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Real Estate Prices & Overview

Palmetto Palms median real estate price is $112,534, which is less expensive than 96.2% of Florida neighborhoods and 92.8% of all U.S. neighborhoods.

The average rental price in Palmetto Palms is currently $1,447, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 94.1% of Florida neighborhoods.

Palmetto Palms is a suburban neighborhood (based on population density) located in Fort Myers, Florida.

Palmetto Palms real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) mobile homes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Palmetto Palms neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in Palmetto Palms. The current real estate vacancy rate here is 72.7%. This is higher than the rate of vacancies in 99.8% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (62.5%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Fort Myers, the Palmetto Palms neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The Palmetto Palms neighborhood stands out for having the majority of its residential real estate made up of mobile homes. In fact, 92.2% of the occupied real estate here are mobile homes, which is a greater proportion than is found in 100.0% of the neighborhoods in the U.S. If you like mobile homes, this might be a great neighborhood in which to look for real estate.

In addition, despite all of the residential real estate here in the Palmetto Palms neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 72.7%, which is higher than 99.8% of all U.S. neighborhoods.

Furthermore, the Palmetto Palms neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.8% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Palmetto Palms stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 80.3% of the residential real estate here was built in this one time period.

Occupations

There are more people living in the Palmetto Palms neighborhood employed as sales and service workers (40.7%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

People

The Palmetto Palms neighborhood has a greater percentage of children living in poverty (55.6%) than found in 95.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Diversity

Did you know that the Palmetto Palms neighborhood has more Armenian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Armenian ancestry and 4.1% have British ancestry.

Palmetto Palms is also pretty special linguistically. Significantly, 9.3% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Palmetto Palms neighborhood in Fort Myers are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.3% of U.S. neighborhoods. With 55.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.8% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Palmetto Palms neighborhood, 59.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 24.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.7%), and 6.5% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Palmetto Palms neighborhood is English, spoken by 96.4% of households. Other important languages spoken here include Italian, Polish and Spanish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Palmetto Palms neighborhood in Fort Myers, FL, residents most commonly identify their ethnicity or ancestry as German (20.0%). There are also a number of people of Irish ancestry (10.8%), and residents who report English roots (9.8%), and some of the residents are also of Italian ancestry (8.0%), along with some Polish ancestry residents (4.9%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Palmetto Palms neighborhood spend under 15 minutes commuting one-way to work (46.2% of working residents), one of the shortest commutes across America.

Here most residents (65.7%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (7.3%) and 7.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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