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Affordable
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These days, finding an affordable place to live in the Palmer area can be challenging. Home prices in Palmer are now at a median cost of $361,292, higher than the Alaska average of $346,273.
The average cost of rent is $1,521/mo in Palmer, primarily driven by the current value of real estate in the Palmer area. In Palmer, 20.40% of households rent, and 33.55% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palmer is $8,228 per month. Households that rent pay about 18.49% of their income on rent here. Palmer’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Gateway, AK: higher priced homes
- Lazy Mountain, AK: equally priced homes
- Buffalo Soapstone, AK: equally priced homes
- Lakes, AK: equally priced homes
- Wasilla, AK: equally priced homes
- Tanaina, AK: equally priced homes
- Eska, AK: less expensive homes
- Knik-Fairview, AK: equally priced homes
- Meadow Lakes, AK: less expensive homes
- Chugiak, AK: higher priced homes
Cities with Similar Populations
- Rio Rico, AZ: less expensive homes
- Jasper, IN: less expensive homes
- Jenkintown, PA: higher priced homes
- La Crescenta-Montrose, CA: higher priced homes
- Lajas, PR: less expensive homes
- Lake Forest, IL: higher priced homes
- Lebanon, IN: less expensive homes
- Ludlow, MA: equally priced homes
- Pennsauken, NJ: less expensive homes
- Powhatan, VA: higher priced homes
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