Palmer appreciation rates and housing market information

Palmer housing market information

With a population of 4,578, 1,593 total housing units (homes and apartments), and a median house value of $205,600, Palmer real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Palmer, accounting for 73.57% of the city's housing units. Other types of housing that are prevalent in Palmer include large apartment complexes or high rise apartments (17.20%), duplexes, homes converted to apartments, or other small apartment buildings (6.84%), and a few mobile homes or trailers (2.07%).

The most prevalent building size and type in Palmer are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 61.46% owning, and 33.52% renting.

There is a lot of housing in Palmer built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Palmer built from 1995 and later (24.11%). A lesser amount of the housing stock also hails from 1940-1969 (17.89%), and some were built from 1939 and earlier (17.89%).

Palmer home appreciation rates

Appreciation rates for homes in Palmer have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.01%, which ranks in the top 30% nationwide. This equates to an annual average Palmer house appreciation rate of 10.00%.

Over the last year, Palmer appreciation rates have trailed the rest of the nation. In the last twelve months, Palmer's appreciation rate has been 0.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palmer were at 0.32%, which equates to an annual appreciation rate of 1.28%.

Relative to Alaska, our data show that Palmer's latest annual appreciation rate is higher than 71% of the other cities and towns in Alaska.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Palmer differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palmer - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Palmer real estate investment or home purchase decisions.