Palmyra, MO—63461
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palmyra, MO
As of Oct '25, the median home price in Palmyra, MO is $232,000, with a year-over-year change of 8.9%. This indicates that home prices in Palmyra, MO are increasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $232,000 | 8.9% |
| Single Family | $232,000 | 8.9% |
| 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 | 10.5% |
3 Bed | $242,000 | 8.5% |
4 Bed | $309,000 | 8.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palmyra, MO
As of July '25, Rentcast reports the average rent in Palmyra, MO is $1,400, with a year-over-year rent change of -20.0%. Per bedroom, the median rent as of July '25 in Palmyra, MO is 2-bedrooms: $1,050, 3-bedrooms: $1,750. The most common rental property sizes in Palmyra, MO are 2-bedroom and 3-bedroom, accounting for 40.0% and 28.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,050 |
| 3 Bed Rent | $1,750 | $1,750 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Palmyra, MO
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmyra, MO is 59. This is a increase of 11.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $259,000 | 12.0% |
Listing Count | 22 | 36.0% |
| Listings as % of Homes | 0.4% | 36.0% |
Days on Market | 59 | 11.0% |
Demographics — Palmyra, MO
As of the latest ACS Survey released in 2023, Palmyra, MO has a population of 5,360, which has decreased by -6.2% over the past 5 years. Palmyra, MO is a moderately popular place for families, as children make up 21.1% of the population. The area has a moderately educated workforce, with 26.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,360 | -6.2% |
% Under 18 | 21.1% | -15.9% |
% Seniors | 21.5% | 29.5% |
% WFH | 7.0% | 29.6% |
% w/ College Degree | 26.2% | 43.2% |
As of the latest ACS Survey released in 2023, Palmyra, MO is a predominantly white area, with 91.2% of the population identifying as white. The white population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Palmyra, MO is black, making up 2.8% of the population. Foreign-born residents account for 0.3% of the population in Palmyra, MO, and this percentage has decreased by 72.7% 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 | 91.2% | -1.4% |
% Black | 2.8% | 133.3% |
% Hispanic | 0.4% | -66.7% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.3% | -72.7% |
Mortgage and Risk — Palmyra, MO
According to HUD data as of 2023, there were 50 mortgage originations in Palmyra, MO, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Palmyra, MO. Investor activity is low, as 4.0% 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 | 50 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Palmyra, MO
Palmyra, MO lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 25 |
Total Units Section 8 | 25 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 58.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $670 |
| 2 Bedroom | -$210 | $1,050 | $840 |
| 3 Bedroom | -$640 | $1,750 | $1,110 |
| 4 Bedroom | N/A | N/A | $1,300 |
Affordability — Palmyra, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $232,000 |
| Median Household Income | $68,600 |