Palmyra, IN is a small city located in Indiana. It has a population of about 1,000 people and is known for its historic sites and unique atmosphere. The median rent for a two bedroom apartment in Palmyra is $880 which is much lower than the national average of $1,430. Grocery costs are also lower in Palmyra than elsewhere with an index of 95 compared to 100 for the US. Local businesses in Palmyra include First State Bank, Palmyra Country Store, and Palmyra Family Pharmacy. The cost of living overall in Palmyra is lower than most other places due to the low rent prices and low grocery costs. It is a great place to live if you are looking for an affordable place to call home.
Palmyra has an unemployment rate of 3.8%. The US average is 6.0%.
Palmyra has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 36.2%, which is higher than the US average of 33.5%.
Tax Rates for Palmyra
- The Sales Tax Rate for Palmyra is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Palmyra is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Palmyra
- The average income of a Palmyra resident is $24,355 a year. The US average is $28,555 a year.
- The Median household income of a Palmyra resident is $42,143 a year. The US average is $69,021 a year.