Living in Palmyra, Illinois
Cost of living, income, home prices, rent and demographics of Palmyra · Census data 2020–2024
Palmyra has 486 residents with a median age of 53.4. The median household income is $44,276 (47% lower than the Illinois median), the median home value is $87,500, the median rent is $718/month.
Palmyra is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Palmyra at a glance
- Population
- 486
- Median age
- 53.4State: 39
- Median household income
- $44,276State: $83,390
- Median home value
- $87,500State: $263,300
- Median rent
- $718/moState: $1,274
- Homeowners
- 79.5%
- Bachelor's degree or higher
- 8.8%
- Average commute
- 43 min
Is Palmyra a good place to live?
Pros: Home values 67% lower than the state median; a poverty rate of 8%.
Cons: Median household income 47% lower than the Illinois median; an average commute of 43 minutes; unemployment of 11.1%.
The weather is best in May–June and August–September.
Cost of living in Palmyra
Housing is the biggest part of the cost of living. In Palmyra the median home value is $87,500, 74% lower than the U.S. median. Renters pay a median of $718 per month, which is 27.1% of household income. Homeowners with a mortgage pay $955 a month in housing costs.
Palmyra median household income
The median household income in Palmyra is $44,276 and the income per person is $28,340. 8% of residents live below the poverty line (Illinois: 11.8%).
Housing in Palmyra: homes for sale and rent
- Housing units
- 346
- Owner-occupied
- 79.5%
- Renter-occupied
- 20.5%
- Vacant
- 30.9%Includes seasonal homes
- Median year built
- 1969
- Average household size
- 2.03
30.9% of homes are vacant most of the year, a sign that Palmyra has many vacation and second homes.
Palmyra demographics
- Population
- 486
- Median age
- 53.4
- Under 18
- 13.6%
- 65 and older
- 32.7%
- Households
- 239
- Foreign-born
- 1.4%
- Veterans
- 5.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Palmyra ›
Education in Palmyra
8.8% of adults 25 and older in Palmyra have a bachelor's degree or higher (Illinois: 37.8%), and 0.3% have a graduate or professional degree.
Jobs and commute in Palmyra
- Unemployment rate
- 11.1%State: 5.8%
- Average commute
- 43 minState: 28 min
- Work from home
- 0%
- Drive alone
- 79.6%
- Public transit
- 0%
- Walk to work
- 9.7%
- Homes with broadband
- 75.7%
Palmyra vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palmyra | 486 | $44,276 | $87,500 | $718 |
| Modesto | 145 | $70,417 | $81,400 | — |
| Hettick | 153 | $65,000 | $142,500 | $732 |
| Nilwood | 151 | $46,771 | $47,600 | — |
| Waverly | 1,375 | $55,671 | $98,400 | $772 |
| Girard | 1,743 | $50,300 | $98,100 | $808 |
| Carlinville | 5,480 | $57,708 | $105,700 | $824 |
| Standard City | 182 | $49,333 | $70,000 | — |
| Chesterfield | 201 | $60,000 | $86,000 | — |
More for people moving to Palmyra
Palmyra ZIP code ›Weather and climate ›Living in Palmyra: FAQ
What is the median household income in Palmyra, IL?
The median household income in Palmyra is $44,276, 47% 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 Palmyra?
The median home value in Palmyra is $87,500, compared with $263,300 in Illinois.
How much is rent in Palmyra?
The median gross rent in Palmyra is $718 per month, about 27.1% of household income.
Is Palmyra, IL a good place to live?
Pluses: home values 67% lower than the state median; a poverty rate of 8%. Minuses: median household income 47% lower than the Illinois median; an average commute of 43 minutes; unemployment of 11.1%.
What is the median age in Palmyra?
The median age in Palmyra is 53.4 years (Illinois: 39).
How long is the commute in Palmyra?
The average commute to work in Palmyra is 43 minutes; 0% of workers work from home.
What is the unemployment rate in Palmyra?
The unemployment rate in Palmyra is 11.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palmyra?
8.8% of adults in Palmyra 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.
Last updated: