The Most Affordable Neighborhoods in Palmer, TN by Home Value

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 $155,435, lower than the Tennessee average of $315,131.

The average cost of rent is $579/mo in Palmer, primarily driven by the current value of real estate in the Palmer area. In Palmer, 8.37% of households rent, and 70.41% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Palmer is $4,430 per month. Households that rent pay about 13.06% of their income on rent here. Palmer’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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