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  4. /Palmyra, IN - 47164

Palmyra, IN—47164

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$238,000
1.7% YoY Growth
Household Income
$62,200
32.7% YoY Growth
Days on Market
15
76.0% Shorter YoY
Home Price Forecast
1.1%
Median 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

Other Zip Codes in Palmyra, IN

47161
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Palmyra, IN

As of May '26, the median home price in Palmyra, IN is $238,000, with a year-over-year change of 1.7%. This indicates that home prices in Palmyra, IN are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$238,0001.7%
Single Family $237,0001.7%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$181,0000.6%
    3 Bed
    		$240,0001.7%
    4 Bed
    		$308,0001.3%
    5 Bed N/AN/A
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    % of Housing Stock

    1 Bedroom
    8.8%
    2 Bedrooms
    18.1%
    3 Bedrooms
    59.5%
    4 Bedrooms
    12.0%
    5+ Bedrooms
    1.6%

    Rental Trends — Palmyra, IN

    Palmyra, IN lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average RentN/AN/A
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
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    % of Rental Stock

    1 Bedroom
    19.2%
    2 Bedrooms
    41.6%
    3 Bedrooms
    34.3%
    4 Bedrooms
    4.9%

    Property Listings — Palmyra, IN

    As of May '26, Realtor.com reports that the median days on market for a home in Palmyra, IN is 15. This is a decrease of -76.0% 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$540,00067.0%
    Listing Count
    		5-50.0%
    Listings as % of Homes0.4%-50.0%
    Days on Market
    		15-76.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % 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%
    Loading chart...

    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
    Loading chart...
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$970
    2 BedroomN/AN/A$1,180
    3 BedroomN/AN/A$1,540
    4 BedroomN/AN/A$1,760

    Affordability — Palmyra, IN

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.2
    Median Home Price$238,000
    Median Household Income$62,200

    Palmyra, IN — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Palmyra, IN

    47161

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    New Salisbury, IN

    47166

    Frequently Asked Questions