Palmyra, MI 49268 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Palmyra, MI—49268

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$209,000

1.4% YoY Growth

Household Income

$87,200

72.7% YoY Growth

Days on Market

55.0% Longer YoY

Home Price Forecast

3.0%

Median Rent

$1,200

7.7% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,200

N/A

3-Bed Rent

N/A

Home Price Trends — Palmyra, MI

As of Dec '25, the median home price in Palmyra, MI is $209,000, with a year-over-year change of 1.4%. This indicates that home prices in Palmyra, MI are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$209,000	1.4%
Single Family	$210,000	1.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Palmyra, MI

As of July '25, Rentcast reports the average rent in Palmyra, MI is $1,200, with a year-over-year rent change of -7.7%. Per bedroom, the median rent as of July '25 in Palmyra, MI is 2-bedrooms: $1,200. The most common rental property sizes in Palmyra, MI are 5+ bedroom and 3-bedroom, accounting for 51.4% and 35.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,200	$1,200
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	$1,200	$1,200
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

2 Bedrooms

8.1%

3 Bedrooms

35.1%

4 Bedrooms

5.4%

5+ Bedrooms

51.4%

Property Listings — Palmyra, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Palmyra, MI is 61. This is a decrease of -33.0% 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	$170,000	-10.0%
Listing Count	3	80.0%
Listings as % of Homes	0.9%	80.0%
Days on Market	48	55.0%

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Demographics — Palmyra, MI

As of the latest ACS Survey released in 2023, Palmyra, MI has a population of 1,030, which has decreased by -15.3% over the past 5 years. Palmyra, MI is a moderately popular place for families, as children make up 18.9% of the population. The area has a poorly educated workforce, with 19.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 1.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	1,030	-15.3%
% Under 18	18.9%	-12.1%
% Seniors	18.5%	5.1%
% WFH	1.3%	-48.0%
% w/ College Degree	19.8%	54.7%

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As of the latest ACS Survey released in 2023, Palmyra, MI is a predominantly white area, with 94.2% of the population identifying as white. The white population has grown by 7.8% in the last 5 years. The second most common race or ethnicity in Palmyra, MI is hispanic, making up 3.3% of the population. Foreign-born residents account for 3.0% of the population in Palmyra, MI, and this percentage has increased by 650.0% 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	94.2%	7.8%
% Black	0.0%	-100.0%
% Hispanic	3.3%	-52.2%
% Asian	2.5%	257.1%
% Foreign Born	3.0%	650.0%

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Mortgage and Risk — Palmyra, MI

According to HUD data as of 2023, there were 37 mortgage originations in Palmyra, MI, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Palmyra, MI. Investor activity is low, as 0.0% of loans were by investors. 38.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	37
% Conventional Loans	84.0%
% Government Loans	16.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	38.0%

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Rentals and Section 8 — Palmyra, MI

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

Section 8 Market Size

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

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$730
2 Bedroom	-$270	$1,200	$930
3 Bedroom	N/A	N/A	$1,220
4 Bedroom	N/A	N/A	$1,410

Palmyra, MI—49268

Key Metrics at a Glance

Home Price Trends — Palmyra, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palmyra, MI

% of Rental Stock

Property Listings — Palmyra, MI

Demographics — Palmyra, MI

Race and Ethnicity

Mortgage and Risk — Palmyra, MI

Mortgages

Rentals and Section 8 — Palmyra, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Palmyra, MI

Home Price to Income Ratio

Palmyra, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Blissfield, MI

Adrian, MI

Deerfield, MI

Tecumseh, MI

Jasper, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.2
Median Home Price	$209,000
Median Household Income	$87,200

Palmyra, MI—49268

Key Metrics at a Glance

Home Price Trends — Palmyra, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palmyra, MI

% of Rental Stock

Property Listings — Palmyra, MI

Demographics — Palmyra, MI

Race and Ethnicity

Mortgage and Risk — Palmyra, MI

Mortgages

Rentals and Section 8 — Palmyra, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Palmyra, MI

Home Price to Income Ratio

Palmyra, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Blissfield, MI

Adrian, MI

Deerfield, MI

Tecumseh, MI

Jasper, MI

Frequently Asked Questions

What is the average home price in Palmyra, MI 49268?

How have home prices in Palmyra, MI 49268 changed over the past year?

What is the home price projection for Palmyra, MI 49268?

What are the demographics of Palmyra, MI 49268?

How long does it take homes to sell in Palmyra, MI 49268?

What is the average rent price in Palmyra, MI 49268?