Palmyra, IN—47161
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Palmyra, IN
Home Price Trends — Palmyra, IN
As of Oct '25, the median home price in Palmyra, IN is $262,000, with a year-over-year change of 5.9%. This indicates that home prices in Palmyra, IN are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $262,000 | 5.9% |
| Single Family | $262,000 | 6.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $192,000 | 5.5% |
3 Bed | $262,000 | 6.1% |
4 Bed | $323,000 | 4.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palmyra, IN
Palmyra, IN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio 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 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Palmyra, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmyra, IN is 109. This is a increase of 21.0% 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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $284,000 | -1.0% |
Listing Count | 15 | 64.0% |
| Listings as % of Homes | 0.1% | 64.0% |
Days on Market | 109 | 21.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,360 | 5.2% |
% Under 18 | 17.5% | -19.4% |
% Seniors | 15.6% | 0.0% |
% WFH | 13.4% | 857.1% |
% w/ College Degree | 17.0% | -2.9% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,390 |
| 2 Bedroom | N/A | N/A | $1,690 |
| 3 Bedroom | N/A | N/A | $2,180 |
| 4 Bedroom | N/A | N/A | $2,530 |
Affordability — Palmyra, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $262,000 |
| Median Household Income | $84,300 |