Palmyra, NY—14522
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palmyra, NY
As of Oct '25, the median home price in Palmyra, NY is $228,000, with a year-over-year change of 5.5%. This indicates that home prices in Palmyra, NY are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $228,000 | 5.5% |
| Single Family | $228,000 | 5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $179,000 | 5.9% |
3 Bed | $230,000 | 5.0% |
4 Bed | $267,000 | 4.7% |
| 5 Bed | $302,000 | 6.3% |
% of Housing Stock
Rental Trends — Palmyra, NY
As of July '25, Rentcast reports the average rent in Palmyra, NY is $1,100, with a year-over-year rent change of 22.2%. Per bedroom, the median rent as of July '25 in Palmyra, NY is 1-bedrooms: $938, 2-bedrooms: $1,210. The most common rental property sizes in Palmyra, NY are 1-bedroom and 2-bedroom, accounting for 40.5% and 35.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,100 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $875 | $938 |
| 2 Bed Rent | $1,240 | $1,210 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Palmyra, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmyra, NY is 36. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $290,000 | 27.0% |
Listing Count | 17 | 25.0% |
| Listings as % of Homes | 0.0% | 25.0% |
Days on Market | 36 | -16.0% |
Demographics — Palmyra, NY
As of the latest ACS Survey released in 2023, Palmyra, NY has a population of 9,230, which has remained stable by -0.0% over the past 5 years. Palmyra, NY is a moderately popular place for families, as children make up 18.9% of the population. The area has a poorly educated workforce, with 24.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,230 | 0.0% |
% Under 18 | 18.9% | -8.3% |
% Seniors | 25.2% | 32.6% |
% WFH | 5.0% | 11.1% |
% w/ College Degree | 24.5% | 17.2% |
As of the latest ACS Survey released in 2023, Palmyra, NY is a predominantly white area, with 94.0% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Palmyra, NY is asian, making up 1.6% of the population. Foreign-born residents account for 1.3% of the population in Palmyra, NY, and this percentage has decreased by 13.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.0% | 0.3% |
% Black | 0.7% | 0.0% |
% Hispanic | 1.2% | -71.4% |
% Asian | 1.6% | 300.0% |
% Foreign Born | 1.3% | -13.3% |
Mortgage and Risk — Palmyra, NY
According to HUD data as of 2023, there were 162 mortgage originations in Palmyra, NY, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Palmyra, NY. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 162 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Palmyra, NY
Palmyra, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 128 |
Total Units Section 8 | 127 |
% Rentals under Section 8 | 13.4% |
% Occupied Section 8 | 95.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $75 | $875 | $950 |
| 2 Bedroom | -$60 | $1,240 | $1,180 |
| 3 Bedroom | N/A | N/A | $1,430 |
| 4 Bedroom | N/A | N/A | $1,570 |
Affordability — Palmyra, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $228,000 |
| Median Household Income | $80,400 |