Palermo, NJ
Population 2,667 · New Jersey
About Palermo, NJ
Palermo is a small town located in New Jersey with a population of 2,667 residents according to the latest US Census Bureau American Community Survey data. The median household income is $98,000 per year, which is 30% above the national median of $75,149. The median age of 43.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Palermo features a median home value of $393,900, which is 61% above the national median of $244,900. This places Palermo in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 1,259 total housing units, 98% are owner-occupied (1,126 units) and 2% are renter-occupied (22 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palermo shows an unemployment rate of 0.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palermo have an average one-way commute time of 23.6 minutes.
Education & Demographics
45.9% of Palermo residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 2.0% Asian residents, with 1.6% of the population being foreign-born.
How Palermo Ranks in New Jersey
Cost of Living in Palermo, NJ
Compared to national averages, Palermo has a median household income of $98,000 (30% above the national median of $75,149). Home values average $393,900, which is 61% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within New Jersey, Palermo's income is 15% below the state average of $115,667, and home values are 16% below the state median of $469,644.
Why Live in Palermo, NJ?
Palermo offers a strong local economy with a median household income of $98,000, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.9%. Additionally, the city features a well-educated community where 45.9% of residents hold a bachelor’s degree or higher, and a low poverty rate of 1.7%, better than the national average, and short commute times averaging just 23.6 minutes.
Potential considerations include a competitive housing market where the typical home costs $393,900. However, Palermo’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palermo has a population of 2,667 with a median age of 43.7 years. Compare Palermo with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Palermo
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lakehurst | 2,666 | $80,458 | $225,800 | Compare |
| Seaville | 2,678 | $148,095 | $437,300 | Compare |
| West Belmar | 2,682 | $113,083 | $490,000 | Compare |
| Plainsboro Center | 2,683 | $117,363 | $474,300 | Compare |
| Pemberton Heights | 2,643 | $70,403 | $232,800 | Compare |
| Greenwich CDP (Warren County), New Jersey | 2,615 | $166,977 | $457,500 | Compare |
| Swedesboro | 2,720 | $91,000 | $247,500 | Compare |
| Concordia | 2,724 | $57,063 | $298,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palermo With Other Cities
Frequently Asked Questions about Palermo
What is the population of Palermo, NJ?
The population of Palermo, NJ is 2,667 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Palermo?
The median household income in Palermo, NJ is $98,000 per year, which is 30% above the national median of $75,149.
What is the median home value in Palermo?
The median home value in Palermo, NJ is $393,900, which is 61% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palermo?
The median monthly rent in Palermo, NJ is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Palermo?
The unemployment rate in Palermo, NJ is 0.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Palermo, NJ a good place to live?
Palermo offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,667 and a median age of 43.7, the city appeals to a broad range of residents.
How educated is Palermo, NJ?
45.9% of residents in Palermo aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Palermo?
Key cost-of-living indicators for Palermo, NJ: median home value is $393,900 (61% above national), median rent is $0/month, and median household income is $98,000. The home-value-to-income ratio is 4.0x, a moderate figure by national standards.
What is the poverty rate in Palermo?
The poverty rate in Palermo, NJ is 1.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Palermo, NJ?
Palermo's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 2.0% Asian, and 0.0% two or more races. 1.6% of residents are foreign-born.