Palmetto has the 2137th largest population in the United States. The population grew by 4.9% from 2010 to 2015, which was faster than the national average. Palmetto is part of the Sarasota metro area. Unemployment in the Sarasota area is 4%, which is lower than the national average, and is getting better. Sarasota has the 91st largest local economy in the US, and a low cost of living. The average pay for jobs in Palmetto is below average at $40,600, and the median cost of a home in Palmetto is $106,800, which is below the national average. 20% of workers in Palmetto hold a bachelors degree or higher (above average), and 84% of workers have a high school degree (above average). Driving to work is especially common in Palmetto. 79% of Palmetto workers drive to work alone, 0% take public transit, 10% carpool, and 8% walk. People in Palmetto spend an average of 22 minutes commuting to work, which is shorter than the national average of 26 minutes.