Palo, IA
Population 1,173 · Iowa
About Palo, IA
Palo is a small community in Iowa with a population of 1,173 residents. The median household income is $103,646 per year, which is above the national average. The median age in Palo is 32.7 years.
Housing in Palo has a median home value of $274,200 and median monthly rent of $1,063. Of the 409 total housing units, the majority are owner-occupied, with 382 owner-occupied and 19 renter-occupied units.
The unemployment rate in Palo is 2.3% and the poverty rate is 3.3%. 27.5% of residents hold a bachelor's degree or higher. The average commute time is 26.9 minutes.
Cost of Living in Palo, IA
Compared to national averages, Palo has a median household income of $103,646 (38% above the national median of $75,149). Home values average $274,200, which is 12% above the national median. Monthly rent at $1,063 is 9% below the US average of $1,163. Within Iowa, Palo's income is 53% above the state average of $67,947, and home values are 107% above the state median of $132,237.
Why Live in Palo, IA?
Palo offers a strong local economy with a median household income of $103,646, well above the national average, and rent that’s lower than the national average at $1,063/month, and a strong job market with an unemployment rate of just 2.3%. Additionally, the city features a low poverty rate of 3.3%, better than the national average.
Palo has a population of 1,173 with a median age of 32.7 years. Compare Palo with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Palo
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Conrad | 1,170 | $73,844 | $156,100 | Compare |
| St. Ansgar | 1,156 | $75,208 | $143,800 | Compare |
| Lake Park | 1,191 | $73,977 | $153,500 | Compare |
| Glidden | 1,153 | $73,393 | $159,700 | Compare |
| New Sharon | 1,147 | $60,000 | $125,000 | Compare |
| Sheffield | 1,204 | $64,297 | $138,500 | Compare |
| Wayland | 1,140 | $67,000 | $122,200 | Compare |
| Springville | 1,210 | $96,250 | $175,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Palo
What is the population of Palo, IA?
The population of Palo, IA is 1,173 according to the latest Census data.
What is the median household income in Palo?
The median household income in Palo, IA is $103,646 per year.
What is the median home value in Palo?
The median home value in Palo, IA is $274,200.
What is the average rent in Palo?
The median monthly rent in Palo, IA is $1,063.
What is the unemployment rate in Palo?
The unemployment rate in Palo, IA is 2.3%.