Living in Palmer, Illinois
Cost of living, income, home prices, rent and demographics of Palmer · Census data 2020–2024
Palmer has 241 residents with a median age of 53.3. The median household income is $49,500 (41% lower than the Illinois median), the median home value is $82,900, the median rent is $740/month.
Palmer is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Palmer at a glance
- Population
- 241
- Median age
- 53.3State: 39
- Median household income
- $49,500State: $83,390
- Median home value
- $82,900State: $263,300
- Median rent
- $740/moState: $1,274
- Homeowners
- 88.4%
- Bachelor's degree or higher
- 8.5%
- Average commute
- 24 min
Is Palmer a good place to live?
Pros: Home values 69% lower than the state median; an average commute of 24 minutes; unemployment of 1%; a poverty rate of 11.2%.
Cons: Median household income 41% lower than the Illinois median.
The weather is best in May–June and August–September.
Cost of living in Palmer
Housing is the biggest part of the cost of living. In Palmer the median home value is $82,900, 75% lower than the U.S. median. Renters pay a median of $740 per month, which is 19% of household income. Homeowners with a mortgage pay $969 a month in housing costs.
Palmer median household income
The median household income in Palmer is $49,500 and the income per person is $27,010. 11.2% of residents live below the poverty line (Illinois: 11.8%).
Housing in Palmer: homes for sale and rent
- Housing units
- 127
- Owner-occupied
- 88.4%
- Renter-occupied
- 11.6%
- Vacant
- 11.8%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.15
Palmer demographics
- Population
- 241
- Median age
- 53.3
- Under 18
- 16.6%
- 65 and older
- 31.1%
- Households
- 112
- Foreign-born
- 0%
- Veterans
- 3.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Palmer ›
Education in Palmer
8.5% of adults 25 and older in Palmer have a bachelor's degree or higher (Illinois: 37.8%), and 0.5% have a graduate or professional degree.
Jobs and commute in Palmer
- Unemployment rate
- 1%State: 5.8%
- Average commute
- 24 minState: 28 min
- Work from home
- 6%
- Drive alone
- 94%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 74.1%
Palmer vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palmer | 241 | $49,500 | $82,900 | $740 |
| Morrisonville | 926 | $71,597 | $95,800 | $796 |
| Langleyville | 282 | $47,969 | $106,500 | — |
| Taylorville | 10,646 | $57,552 | $104,100 | $828 |
| Kincaid | 1,278 | $64,821 | $88,100 | $725 |
| Tovey | 629 | $89,000 | $79,100 | $808 |
| Bulpitt | 185 | $75,000 | $78,300 | $825 |
| Harvel | 201 | $61,250 | $55,000 | $759 |
| Owaneco | 613 | $65,313 | $101,700 | $815 |
More for people moving to Palmer
Palmer ZIP code ›Weather and climate ›Living in Palmer: FAQ
What is the median household income in Palmer, IL?
The median household income in Palmer is $49,500, 41% lower than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Palmer?
The median home value in Palmer is $82,900, compared with $263,300 in Illinois.
How much is rent in Palmer?
The median gross rent in Palmer is $740 per month, about 19% of household income.
Is Palmer, IL a good place to live?
Pluses: home values 69% lower than the state median; an average commute of 24 minutes; unemployment of 1%; a poverty rate of 11.2%. Minuses: median household income 41% lower than the Illinois median.
What is the median age in Palmer?
The median age in Palmer is 53.3 years (Illinois: 39).
How long is the commute in Palmer?
The average commute to work in Palmer is 24 minutes; 6% of workers work from home.
What is the unemployment rate in Palmer?
The unemployment rate in Palmer is 1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palmer?
8.5% of adults in Palmer have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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