Palmer, AK—99645
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palmer, AK
As of Oct '25, the median home price in Palmer, AK is $424,000, with a year-over-year change of 5.4%. This indicates that home prices in Palmer, AK are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $424,000 | 5.4% |
| Single Family | $427,000 | 7.0% |
| Condos | $325,000 | 13.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $318,000 | 9.3% |
3 Bed | $402,000 | 7.2% |
4 Bed | $505,000 | 7.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palmer, AK
As of July '25, Rentcast reports the average rent in Palmer, AK is $1,990, with a year-over-year rent change of -4.3%. Per bedroom, the median rent as of July '25 in Palmer, AK is studios: $800, 1-bedrooms: $1,130, 2-bedrooms: $1,600, 3-bedrooms: $2,400, 4-bedrooms: $2,910. The most common rental property sizes in Palmer, AK are 2-bedroom and 3-bedroom, accounting for 34.8% and 32.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,990 |
| Studio Rent | $800 | $800 |
| 1 Bed Rent | $1,150 | $1,130 |
| 2 Bed Rent | $1,500 | $1,600 |
| 3 Bed Rent | $2,400 | $2,400 |
| 4 Bed Rent | $2,800 | $2,910 |
% of Rental Stock
Property Listings — Palmer, AK
As of Oct '25, Realtor.com reports that the median days on market for a home in Palmer, AK is 62. This is a decrease of -6.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $542,000 | 4.0% |
Listing Count | 164 | -2.0% |
| Listings as % of Homes | 0.5% | -2.0% |
Days on Market | 62 | -6.0% |
Demographics — Palmer, AK
As of the latest ACS Survey released in 2023, Palmer, AK has a population of 31,500, which has increased by 3.4% over the past 5 years. Palmer, AK is a popular place for families, as children make up 26.0% of the population. The area has a moderately educated workforce, with 31.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,500 | 3.4% |
% Under 18 | 26.0% | -1.9% |
% Seniors | 13.6% | 25.9% |
% WFH | 9.5% | 46.2% |
% w/ College Degree | 31.1% | 16.9% |
As of the latest ACS Survey released in 2023, Palmer, AK is a predominantly white area, with 75.3% of the population identifying as white. The white population has shrunk by 6.5% in the last 5 years. The second most common race or ethnicity in Palmer, AK is hispanic, making up 6.4% of the population. Foreign-born residents account for 2.5% of the population in Palmer, AK, and this percentage has decreased by 3.8% 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 | 75.3% | -6.5% |
% Black | 1.4% | 7.7% |
% Hispanic | 6.4% | 39.1% |
% Asian | 1.2% | 20.0% |
% Foreign Born | 2.5% | -3.8% |
Mortgage and Risk — Palmer, AK
According to HUD data as of 2023, there were 684 mortgage originations in Palmer, AK, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Palmer, AK. Investor activity is low, as 1.0% 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 | 684 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Palmer, AK
As of 2024, the percent of homes in Palmer, AK under the Section 8 program is 5.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Palmer, AK, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 141 |
Total Units Section 8 | 137 |
% Rentals under Section 8 | 5.9% |
% Occupied Section 8 | 86.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $1,150 | $1,050 |
| 2 Bedroom | -$120 | $1,500 | $1,380 |
| 3 Bedroom | -$470 | $2,400 | $1,930 |
| 4 Bedroom | -$480 | $2,800 | $2,320 |
Affordability — Palmer, AK
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $424,000 |
| Median Household Income | $97,100 |