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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 6,788 people, 2,055 houses or apartments, and a median cost of homes of $233,167, 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 64.56% of the city's housing units. Other types of housing that are prevalent in Palmer include large apartment complexes or high rise apartments ( 19.13%), duplexes, homes converted to apartments or other small apartment buildings ( 10.68%), and a few row houses and other attached homes ( 4.27%).
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 54.81% owning and 45.19% 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 ( 26.53%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.90%). There's also some housing in Palmer built before 1939 ( 2.23%).
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 4.06%, which ranks in the top 50% nationwide. This equates to an annual average Palmer house appreciation rate of 0.40%.
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 0.56%, 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 -0.72%, which equates to an annual appreciation rate of -2.86%.
Notably, Palmer's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alaska, our data show that Palmer's latest annual appreciation rate is higher than 50% 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.
|$817,001 - $1,090,000||0.1|
|$545,001 - $817,000||2.5|
|$436,001 - $545,000||5.1|
|$327,001 - $436,000||10.8|
|$218,001 - $327,000||43.5|
|$109,001 - $218,000||33.0|
|$55,001 - $109,000||1.2|
|$0 - $55,000||3.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Palmer HOMES|
|2000 or Newer||26.5|
|1970 - 1999||58.3|
|1940 - 1969||12.9|
|1939 or Older||2.2|
|TYPE OF Palmer HOMES|
|Small Apt. Buildings||10.7|
|SIZE OF Palmer HOMES|
|5 or more bedrooms||3.18|