The housing market in Palmyra, IL is significantly less expensive than the national average. The median value for a home in Palmyra is $92,200 while the US median house value is $338,100. Although the house appreciation rate in Palmyra has grown at a steady pace over the past year, it lags behind the US total at 6.36%, compared to 8.27%. Therefore, Palmyra real estate offers an affordable option for those looking to own a home without spending as much as they would elsewhere in the country.
The median home cost in Palmyra is $92,200. Home appreciation the last 10 years has been 37.5%. Home Appreciation in Palmyra is up 11.6%.
Average Age of Homes
- The median age of Palmyra real estate is 55 years old
The Rental Market in Palmyra
- Renters make up 38.5% of the Palmyra population
- 3.0% of houses and apartments in Palmyra, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.