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Affordable
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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 $333,374, higher than the Tennessee average of $315,131.
The average cost of rent is $1,022/mo in Palmyra, primarily driven by the current value of real estate in the Palmyra area. In Palmyra, 10.00% of households rent, and 57.44% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palmyra is $5,862 per month. Households that rent pay about 17.44% of their income on rent here. Palmyra’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Round Pond, TN: less expensive homes
- Louise, TN: less expensive homes
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- Woodlawn, TN: less expensive homes
- Cumberland City, TN: less expensive homes
- Oakwood, TN: less expensive homes
- Throckmorton, TN: less expensive homes
- Cumberland Furnace, TN: less expensive homes
- Liverwort, TN: less expensive homes
Cities with Similar Populations
- Shalersville, OH: less expensive homes
- Haines, AK: less expensive homes
- Jamesport, MO: less expensive homes
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- Kingsley, IA: less expensive homes
- Lacygne, KS: less expensive homes
- Augusta, AR: less expensive homes
- Lorida, FL: less expensive homes
- Malaga, NJ: less expensive homes
- Marble Hill, GA: higher priced homes
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