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Palmer, AK Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Palmer, AK Housing Market Trends

With a population of 5,888, 2,104 total housing units (homes and apartments), and a median house value of $280,434, 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 66.99% of the city's housing units. Other types of housing that are prevalent in Palmer include large apartment complexes or high rise apartments ( 19.01%), duplexes, homes converted to apartments or other small apartment buildings ( 8.91%), and a few row houses and other attached homes ( 4.21%).

The most prevalent building size and type in Palmer are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.27% owning and 38.73% renting.

There is a lot of housing in Palmer built from 1970 to 1999 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 between 2000 and later ( 28.75%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.44%). There's also some housing in Palmer built before 1939 ( 1.05%).

Palmer Home Appreciation Rates

Palmer's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Palmer during the period has been just 3.17%, which is lower than 80% of US communities.

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 8.27%, 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 3.21%, which equates to an annual appreciation rate of 13.49%.

Relative to Alaska, our data show that Palmer's latest annual appreciation rate is lower than 90% 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 2000, to assist you in making the best Palmer real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$280,434

Palmer, AK HOME PRICES

> $1,179,000
$884,001 - $1,179,000
$590,001 - $884,000
$471,001 - $590,000
$353,001 - $471,000
$236,001 - $353,000
$118,001 - $236,000
$59,001 - $118,000
$0 - $59,000
0.3%
0.3%
0.4%
0.4%
3.6%
3.6%
5.3%
5.3%
14.4%
14.4%
46.5%
46.5%
25.4%
25.4%
1.8%
1.8%
2.4%
2.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for AK

Value Relative To Nation

Number Of Homes And Apartments:
2,104

Palmer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
87.95% 2.84%
3
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,268 / per month

Homeownership Rate

Owners
Renters
Vacant
61.3%
61.3%
38.7%
38.7%
7.6%
7.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.8%
28.8%
55.8%
55.8%
14.4%
14.4%
1.1%
1.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
67.0%
67.0%
4.2%
4.2%
8.9%
8.9%
19.0%
19.0%
0.9%
0.9%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.8%
1.8%
11.2%
11.2%
23.9%
23.9%
42.4%
42.4%
18.3%
18.3%
2.4%
2.4%
0.0% 100.0%
% OF HOMES

Popular Communities Near Palmer, AK

Zip Codes in Palmer, AK