View in Interactive Map

Palmyra, IN—47161

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$263,000
6.2% YoY Growth
Household Income
$84,300
40.9% YoY Growth
Days on Market
61
16.0% Longer YoY
Home Price Forecast
1.6%
Median Rent
N/A
N/A
1-Bed Rent
N/A
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
N/A
N/A

Other Zip Codes in Palmyra, IN

47164
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Palmyra, IN

As of Dec '25, the median home price in Palmyra, IN is $263,000, with a year-over-year change of 6.2%. This indicates that home prices in Palmyra, IN are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$263,0006.2%
Single Family $263,0006.5%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$192,0005.5%
    3 Bed
    		$263,0006.5%
    4 Bed
    		$322,0004.9%
    5 Bed N/AN/A
    Loading chart...

    % of Housing Stock

    1 Bedroom
    0.7%
    2 Bedrooms
    14.6%
    3 Bedrooms
    66.1%
    4 Bedrooms
    15.0%
    5+ Bedrooms
    3.6%

    Rental Trends — Palmyra, IN

    Palmyra, IN lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average RentN/AN/A
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
    Loading chart...

    % of Rental Stock

    1 Bedroom
    7.3%
    2 Bedrooms
    54.0%
    3 Bedrooms
    30.7%
    5+ Bedrooms
    8.0%

    Property Listings — Palmyra, IN

    As of Dec '25, Realtor.com reports that the median days on market for a home in Palmyra, IN is 131. This is a increase of 53.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$305,0001.0%
    Listing Count
    		1561.0%
    Listings as % of Homes0.1%61.0%
    Days on Market
    		6116.0%
    Loading chart...

    Demographics — Palmyra, IN

    As of the latest ACS Survey released in 2023, Palmyra, IN has a population of 3,360, which has increased by 5.2% over the past 5 years. Palmyra, IN is a moderately popular place for families, as children make up 17.5% of the population. The area has a poorly educated workforce, with 17.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		3,3605.2%
    % Under 18
    		17.5%-19.4%
    % Seniors
    		15.6%0.0%
    % WFH
    		13.4%857.1%
    % w/ College Degree
    		17.0%-2.9%
    Loading chart...

    As of the latest ACS Survey released in 2023, Palmyra, IN is a predominantly white area, with 99.6% of the population identifying as white. The white population has grown by 3.0% in the last 5 years. The second most common race or ethnicity in Palmyra, IN is hispanic, making up 0.1% of the population. Foreign-born residents account for 0.1% of the population in Palmyra, IN, and this percentage has decreased by 66.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		99.6%3.0%
    % Black
    		0.0%-100.0%
    % Hispanic
    		0.1%-92.3%
    % Asian
    		0.0%N/A
    % Foreign Born
    		0.1%-66.7%
    Loading chart...

    Mortgage and Risk — Palmyra, IN

    According to HUD data as of 2023, there were 205 mortgage originations in Palmyra, IN, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Palmyra, IN. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		205
    % Conventional Loans
    		80.0%
    % Government Loans
    		20.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
    Loading chart...
    Loading chart...

    Rentals and Section 8 — Palmyra, IN

    Palmyra, IN lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		4
    Total Units Section 8
    		4
    % Rentals under Section 8
    		2.0%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$1,390
    2 BedroomN/AN/A$1,690
    3 BedroomN/AN/A$2,180
    4 BedroomN/AN/A$2,530

    Affordability — Palmyra, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.6
    Median Home Price$263,000
    Median Household Income$84,300

    Palmyra, IN — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Crandall, IN

    47114

    New Salisbury, IN

    47166

    Palmyra, IN

    47164

    Greenville, IN

    47124

    Depauw, IN

    47115

    Frequently Asked Questions