The housing market in Pala is characterized by a high proportion of independent, single-family homes, often sprawling villas built by wealthy agrarian families and NRIs. Because of the town's high per-capita income, real estate prices and land values within the municipality are relatively high compared to other towns of similar size in Kerala.
With the boom in the education sector, there has been a massive surge in the construction of student hostels, paying-guest (PG) accommodations, and apartment complexes. The rental market is consequently very active, catering to both students and educational staff. Affordable housing is generally found slightly further out in the adjoining panchayats like Mutholy and Meenachil.
