Palmyra, IN—47164
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 $229,000, with a year-over-year change of 2.5%. This indicates that home prices in Palmyra, IN are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $229,000 | 2.5% |
| Single Family | $229,000 | 2.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $170,000 | 0.0% |
3 Bed | $232,000 | 2.7% |
4 Bed | $292,000 | 2.8% |
| 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 43. This is a increase of 39.0% 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 | $416,000 | 32.0% |
Listing Count | 4 | 70.0% |
| Listings as % of Homes | 0.4% | 70.0% |
Days on Market | 43 | 39.0% |
Demographics — Palmyra, IN
As of the latest ACS Survey released in 2023, Palmyra, IN has a population of 3,320, which has decreased by -19.1% over the past 5 years. Palmyra, IN is a popular place for families, as children make up 26.3% of the population. The area has a poorly educated workforce, with 16.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,320 | -19.1% |
% Under 18 | 26.3% | 24.1% |
% Seniors | 14.4% | -30.4% |
% WFH | 10.9% | 303.7% |
% w/ College Degree | 16.3% | 15.6% |
As of the latest ACS Survey released in 2023, Palmyra, IN is a predominantly white area, with 96.6% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Palmyra, IN is hispanic, making up 1.2% of the population. Foreign-born residents account for 1.7% of the population in Palmyra, IN, and this percentage has increased by 466.7% 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 | 96.6% | -1.5% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.2% | 200.0% |
% Asian | 1.0% | ∞% |
% Foreign Born | 1.7% | 466.7% |
Mortgage and Risk — Palmyra, IN
According to HUD data as of 2023, there were 151 mortgage originations in Palmyra, IN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Palmyra, IN. Investor activity is low, as 4.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 151 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
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 | 12 |
Total Units Section 8 | 12 |
% Rentals under Section 8 | 2.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $970 |
| 2 Bedroom | N/A | N/A | $1,180 |
| 3 Bedroom | N/A | N/A | $1,540 |
| 4 Bedroom | N/A | N/A | $1,760 |
Affordability — Palmyra, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $229,000 |
| Median Household Income | $62,200 |