Palmer, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Palmer, AK Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palmer Housing Market Information

With 6,788 people, 2,055 houses or apartments, and a median cost of homes of $234,242, 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%).

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 4.94%, which ranks in the top 40% nationwide. This equates to an annual average Palmer house appreciation rate of 0.48%.

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 1.50%, 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 0.90%, which equates to an annual appreciation rate of 3.64%.

Relative to Alaska, our data show that Palmer's latest annual appreciation rate is higher than 60% 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:
$234,242

Palmer, AK HOME PRICES

Value Range
> $1,095,000 0.5
$821,001 - $1,095,000 0.1
$547,001 - $821,000 2.5
$438,001 - $547,000 5.1
$329,001 - $438,000 10.8
$219,001 - $329,000 43.5
$110,001 - $219,000 33.0
$55,001 - $110,000 1.2
$0 - $55,000 3.3

High for AK
High for Nation

Value Relative to Nation Value Relative to State
25.0556662369624 34.4262295081967

Number Of Homes And Apartments:
2,055

Palmer Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
54.50% 2.55% 2 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,105 / per month

Homeownership Rate

Homeownership
Owners 54.81
Renters 45.19
Vacant 6.63

Housing Market Details

 

Age of Homes

AGE OF Palmer HOMES
2000 or Newer 26.5
1970 - 1999 58.3
1940 - 1969 12.9
1939 or Older 2.2

Types of Homes

TYPE OF Palmer HOMES
Single-Family 64.6
Townhomes 4.3
Small Apt. Buildings 10.7
Apt. Complexes 19.1
Mobile Homes 1.4
Other 0.0

Home Size

SIZE OF Palmer HOMES
No Bedroom 2.36
1 Bedroom 11.59
2 Bedrooms 22.72
3 Bedrooms 40.75
4 Bedrooms 19.40
5 or more bedrooms 3.18

Popular Communities Near Palmer, AK

Zip Codes in Palmer, AK