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These days, finding an affordable place to live in the Palmyra area can be challenging. Home prices in Palmyra are now at a median cost of $114,945, lower than the Illinois average of $300,242.
The average cost of rent is $729/mo in Palmyra, primarily driven by the current value of real estate in the Palmyra area. In Palmyra, 17.41% of households rent, and 67.13% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palmyra is $4,846 per month. Households that rent pay about 15.03% of their income on rent here. Palmyra’s most expensive areas are in the southeastern 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.
Nearby Cities
- Scottville, IL: higher priced homes
- Modesto, IL: higher priced homes
- Hettick, IL: higher priced homes
- Enos, IL: higher priced homes
- Comer, IL: higher priced homes
- Girard, IL: higher priced homes
- McVey, IL: higher priced homes
- Waverly, IL: equally priced homes
- Nilwood, IL: higher priced homes
- Greenfield, IL: equally priced homes
Cities with Similar Populations
- Sacred Heart, MN: higher priced homes
- Lacey, MI: higher priced homes
- Lake George, CO: higher priced homes
- Lancaster, OR: higher priced homes
- Lapine, LA: higher priced homes
- Paxton, TX: less expensive homes
- Randolph, NE: higher priced homes
- Richardton, ND: higher priced homes
- Robins AFB, GA: higher priced homes
- Rock Springs, WI: higher priced homes
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