Living in Palmyra, Indiana
Cost of living, income, home prices, rent and demographics of Palmyra · Census data 2020–2024
Palmyra has 1,215 residents with a median age of 34.3. The median household income is $60,862 (15% lower than the Indiana median), the median home value is $163,800, the median rent is $772/month.
Palmyra is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Palmyra at a glance
- Population
- 1,215
- Median age
- 34.3State: 38.1
- Median household income
- $60,862State: $71,957
- Median home value
- $163,800State: $218,200
- Median rent
- $772/moState: $1,062
- Homeowners
- 66.1%
- Bachelor's degree or higher
- 11.1%
- Average commute
- 34 min
Is Palmyra a good place to live?
Pros: Home values 25% lower than the state median; unemployment of 0.7%.
Cons: Median household income 15% lower than the Indiana median; an average commute of 34 minutes; a poverty rate of 14.9%.
The weather is best in May and August to October.
Cost of living in Palmyra
Housing is the biggest part of the cost of living. In Palmyra the median home value is $163,800, 51% lower than the U.S. median. Renters pay a median of $772 per month, which is 37.2% of household income. Homeowners with a mortgage pay $1,130 a month in housing costs.
Palmyra median household income
The median household income in Palmyra is $60,862 and the income per person is $25,011. 14.9% of residents live below the poverty line (Indiana: 12.3%).
Housing in Palmyra: homes for sale and rent
- Housing units
- 477
- Owner-occupied
- 66.1%
- Renter-occupied
- 33.9%
- Vacant
- 3.6%Includes seasonal homes
- Median year built
- 1983
- Average household size
- 2.64
Palmyra demographics
- Population
- 1,215
- Median age
- 34.3
- Under 18
- 31.3%
- 65 and older
- 17.9%
- Households
- 460
- Foreign-born
- 0.3%
- Veterans
- 8.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Palmyra ›
Education in Palmyra
11.1% of adults 25 and older in Palmyra have a bachelor's degree or higher (Indiana: 29.5%), and 3.4% have a graduate or professional degree.
Jobs and commute in Palmyra
- Unemployment rate
- 0.7%State: 4.3%
- Average commute
- 34 minState: 24 min
- Work from home
- 10%
- Drive alone
- 78.2%
- Public transit
- 0%
- Walk to work
- 4.1%
- Homes with broadband
- 87%
Palmyra vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palmyra | 1,215 | $60,862 | $163,800 | $772 |
| New Salisbury | 499 | $52,768 | $179,200 | — |
| Greenville | 1,575 | $134,934 | $318,900 | $1,176 |
| New Pekin | 1,372 | $50,625 | $135,800 | $836 |
| Crandall | 233 | $55,313 | $168,800 | $846 |
| Borden | 987 | $72,708 | $174,500 | $1,042 |
| Hardinsburg | 164 | $36,042 | $117,600 | $775 |
| Galena | 1,549 | $127,738 | $281,200 | — |
| Milltown | 763 | $61,216 | $118,800 | $611 |
More for people moving to Palmyra
Palmyra ZIP code ›Weather and climate ›Living in Palmyra: FAQ
What is the median household income in Palmyra, IN?
The median household income in Palmyra is $60,862, 15% lower than the Indiana median of $71,957 (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 $163,800, compared with $218,200 in Indiana.
How much is rent in Palmyra?
The median gross rent in Palmyra is $772 per month, about 37.2% of household income.
Is Palmyra, IN a good place to live?
Pluses: home values 25% lower than the state median; unemployment of 0.7%. Minuses: median household income 15% lower than the Indiana median; an average commute of 34 minutes; a poverty rate of 14.9%.
What is the median age in Palmyra?
The median age in Palmyra is 34.3 years (Indiana: 38.1).
How long is the commute in Palmyra?
The average commute to work in Palmyra is 34 minutes; 10% of workers work from home.
What is the unemployment rate in Palmyra?
The unemployment rate in Palmyra is 0.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palmyra?
11.1% 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.
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