Updated 2026 · Based on median market data for Palatka, FL
The median monthly rent in Palatka, FL is $1,370, translating to $16,440 in annual gross rental income per unit. The rent-to-price ratio is 0.65% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Palatka spend approximately 32% of the local median household income ($50,639) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Palatka is 5.2%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 1.9% annually is actively adding rental demand.
Palatka's GRM (price divided by annual rent) is 12.8x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,370/mo, a single-family rental in Palatka generates approximately $16,440 in gross annual income. After accounting for 5.2% vacancy ($855 lost), property taxes of $1,806, insurance (~$840), and maintenance (~$840), the estimated NOI is $12,099 per year, or $1,008/mo.
Palatka vs Florida state average and national average across key investment metrics. Palatka outperforms both benchmarks on cap rate.