Palmer, AK 99645 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Palmer, AK—99645

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$440,000

10.3% YoY Growth

Household Income

$97,100

19.9% YoY Growth

Days on Market

23.0% Shorter YoY

Home Price Forecast

0.2%

Median Rent

$1,900

4.3% YoY Growth

1-Bed Rent

$1,150

7.6% YoY Growth

2-Bed Rent

$1,500

2.4% YoY Growth

3-Bed Rent

$2,400

18.2% YoY Growth

Home Price Trends — Palmer, AK

As of May '25, the median home price in Palmer, AK is $422,000, with a year-over-year change of 6.9%. 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	$440,000	10.3%
Single Family	$443,000	11.0%
Condos	$330,000	11.5%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

4.2%

1 Bedroom

17.6%

2 Bedrooms

34.8%

3 Bedrooms

32.8%

4 Bedrooms

9.4%

5+ Bedrooms

1.1%

Property Listings — Palmer, AK

As of May '25, Realtor.com reports that the median days on market for a home in Palmer, AK is 81. This is a decrease of -11.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$542,000	6.0%
Listing Count	194	1.0%
Listings as % of Homes	0.5%	1.0%
Days on Market	29	-23.0%

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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%

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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%

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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%

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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

Palmer, AK—99645

Key Metrics at a Glance

Home Price Trends — Palmer, AK

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palmer, AK

% of Rental Stock

Property Listings — Palmer, AK

Demographics — Palmer, AK

Race and Ethnicity

Mortgage and Risk — Palmer, AK

Mortgages

Rentals and Section 8 — Palmer, AK

Section 8 Market Size

Section 8 Opportunity

Affordability — Palmer, AK

Home Price to Income Ratio

Palmer, AK — ZIP Code Boundary Map

Nearby ZIP Codes

Chugiak, AK

Wasilla, AK

Eagle River, AK

Alyeska

Palmer, Anchorage, AK

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.8
Median Home Price	$440,000
Median Household Income	$97,100

Palmer, AK—99645

Key Metrics at a Glance

Home Price Trends — Palmer, AK

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palmer, AK

% of Rental Stock

Property Listings — Palmer, AK

Demographics — Palmer, AK

Race and Ethnicity

Mortgage and Risk — Palmer, AK

Mortgages

Rentals and Section 8 — Palmer, AK

Section 8 Market Size

Section 8 Opportunity

Affordability — Palmer, AK

Home Price to Income Ratio

Palmer, AK — ZIP Code Boundary Map

Nearby ZIP Codes

Chugiak, AK

Wasilla, AK

Eagle River, AK

Alyeska

Palmer, Anchorage, AK

Frequently Asked Questions

What is the average home price in Palmer, AK 99645?

How have home prices in Palmer, AK 99645 changed over the past year?

What is the home price projection for Palmer, AK 99645?

What are the demographics of Palmer, AK 99645?

How long does it take homes to sell in Palmer, AK 99645?

What is the average rent price in Palmer, AK 99645?