Palmyra, NJ—08065
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palmyra, NJ
As of Oct '25, the median home price in Palmyra, NJ is $301,000, with a year-over-year change of 2.1%. This indicates that home prices in Palmyra, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $301,000 | 2.1% |
| Single Family | $307,000 | 1.3% |
| Condos | $264,000 | 2.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $248,000 | 0.0% |
3 Bed | $330,000 | 2.5% |
4 Bed | $350,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palmyra, NJ
As of July '25, Rentcast reports the average rent in Palmyra, NJ is $1,880, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Palmyra, NJ is studios: $700, 1-bedrooms: $1,490, 2-bedrooms: $1,830, 3-bedrooms: $2,500, 4-bedrooms: $2,300. The most common rental property sizes in Palmyra, NJ are 2-bedroom and 1-bedroom, accounting for 54.3% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,880 |
| Studio Rent | $700 | $700 |
| 1 Bed Rent | $1,600 | $1,490 |
| 2 Bed Rent | $1,950 | $1,830 |
| 3 Bed Rent | $2,350 | $2,500 |
| 4 Bed Rent | $2,300 | $2,300 |
% of Rental Stock
Property Listings — Palmyra, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmyra, NJ is 28. This is a increase of 102.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $349,000 | 20.0% |
Listing Count | 26 | 9.0% |
| Listings as % of Homes | 0.6% | 9.0% |
Days on Market | 28 | 102.0% |
Demographics — Palmyra, NJ
As of the latest ACS Survey released in 2023, Palmyra, NJ has a population of 7,450, which has increased by 3.1% over the past 5 years. Palmyra, NJ is a moderately popular place for families, as children make up 17.8% of the population. The area has a moderately educated workforce, with 29.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,450 | 3.1% |
% Under 18 | 17.8% | -3.3% |
% Seniors | 15.7% | 1.3% |
% WFH | 14.2% | 468.0% |
% w/ College Degree | 29.7% | 6.1% |
As of the latest ACS Survey released in 2023, Palmyra, NJ is a predominantly white area, with 63.3% of the population identifying as white. The white population has shrunk by 7.2% in the last 5 years. The second most common race or ethnicity in Palmyra, NJ is black, making up 15.4% of the population. Foreign-born residents account for 7.8% of the population in Palmyra, NJ, and this percentage has increased by 2.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.3% | -7.2% |
% Black | 15.4% | -12.0% |
% Hispanic | 9.0% | -7.2% |
% Asian | 4.0% | 37.9% |
% Foreign Born | 7.8% | 2.6% |
Mortgage and Risk — Palmyra, NJ
According to HUD data as of 2023, there were 164 mortgage originations in Palmyra, NJ, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Palmyra, NJ. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 164 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Palmyra, NJ
As of 2024, the percent of homes in Palmyra, NJ under the Section 8 program is 1.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Palmyra, NJ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,600 | $1,800 |
| 2 Bedroom | $200 | $1,950 | $2,150 |
| 3 Bedroom | $240 | $2,350 | $2,590 |
| 4 Bedroom | $640 | $2,300 | $2,940 |
Affordability — Palmyra, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $301,000 |
| Median Household Income | $85,000 |