Living in Palmyra, New Jersey
Cost of living, income, home prices, rent and demographics of Palmyra · Census data 2020–2024
Palmyra has 7,485 residents with a median age of 44.1. The median household income is $89,574 (14% lower than the New Jersey median), the median home value is $234,800, the median rent is $1,696/month.
Palmyra at a glance
- Population
- 7,485
- Median age
- 44.1State: 40.1
- Median household income
- $89,574State: $103,556
- Median home value
- $234,800State: $454,400
- Median rent
- $1,696/moState: $1,720
- Homeowners
- 71.4%
- Bachelor's degree or higher
- 32.4%
- Average commute
- 25 min
Is Palmyra a good place to live?
Pros: Home values 48% lower than the state median; an average commute of 25 minutes.
Cons: Median household income 14% lower than the New Jersey median; unemployment of 6.5%; a poverty rate of 10.2%.
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 $234,800, 29% lower than the U.S. median. Renters pay a median of $1,696 per month, which is 33.9% of household income. Homeowners with a mortgage pay $1,923 a month in housing costs.
Palmyra median household income
The median household income in Palmyra is $89,574 and the income per person is $44,628. 10.2% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Palmyra: homes for sale and rent
- Housing units
- 3,388
- Owner-occupied
- 71.4%
- Renter-occupied
- 28.6%
- Vacant
- 3%Includes seasonal homes
- Median year built
- 1957
- Average household size
- 2.28
Palmyra demographics
- Population
- 7,485
- Median age
- 44.1
- Under 18
- 17%
- 65 and older
- 18.9%
- Households
- 3,287
- Foreign-born
- 6.1%
- Veterans
- 6.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Palmyra ›
Education in Palmyra
32.4% of adults 25 and older in Palmyra have a bachelor's degree or higher (New Jersey: 43.6%), and 8.5% have a graduate or professional degree.
Jobs and commute in Palmyra
- Unemployment rate
- 6.5%State: 6.3%
- Average commute
- 25 minState: 31 min
- Work from home
- 16.6%
- Drive alone
- 68.4%
- Public transit
- 3.6%
- Walk to work
- 3%
- Homes with broadband
- 94.6%
Palmyra vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palmyra | 7,485 | $89,574 | $234,800 | $1,696 |
| Riverton | 2,770 | $121,198 | $363,000 | $1,431 |
| Cinnaminson | 17,415 | $127,606 | $385,800 | $2,063 |
| Pennsauken | 37,275 | $87,680 | $232,900 | $1,209 |
| Merchantville | 3,905 | $90,706 | $331,000 | $1,212 |
| Maple Shade | 20,076 | $78,904 | $250,200 | $1,638 |
| Cherry Hill Mall | 14,541 | $103,708 | $341,200 | $2,132 |
| Moorestown-Lenola | 14,625 | $138,398 | $581,700 | $1,648 |
| Golden Triangle | 5,765 | $103,558 | $320,400 | $2,506 |
More for people moving to Palmyra
Palmyra ZIP code ›Weather and climate ›Living in Palmyra: FAQ
What is the median household income in Palmyra, NJ?
The median household income in Palmyra is $89,574, 14% lower than the New Jersey median of $103,556 (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 $234,800, compared with $454,400 in New Jersey.
How much is rent in Palmyra?
The median gross rent in Palmyra is $1,696 per month, about 33.9% of household income.
Is Palmyra, NJ a good place to live?
Pluses: home values 48% lower than the state median; an average commute of 25 minutes. Minuses: median household income 14% lower than the New Jersey median; unemployment of 6.5%; a poverty rate of 10.2%.
What is the median age in Palmyra?
The median age in Palmyra is 44.1 years (New Jersey: 40.1).
How long is the commute in Palmyra?
The average commute to work in Palmyra is 25 minutes; 16.6% of workers work from home.
What is the unemployment rate in Palmyra?
The unemployment rate in Palmyra is 6.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palmyra?
32.4% 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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