Palmyra, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Palmyra Neighborhoods Since 2000




Palmyra, NY 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

Palmyra Housing Market Information

With 3,413 people, 1,491 houses or apartments, and a median cost of homes of $93,229, house prices in Palmyra are some of the most affordable in New York as well as the nation.

Single-family detached homes are the single most common housing type in Palmyra, accounting for 49.39% of the village's housing units. Other types of housing that are prevalent in Palmyra include duplexes, homes converted to apartments or other small apartment buildings ( 27.08%), large apartment complexes or high rise apartments ( 21.72%), and a few row houses and other attached homes ( 1.81%).

People in Palmyra primarily live in small (one, two or no bedroom) single-family detached homes. Palmyra has a mixture of owner-occupied and renter-occupied housing.

The housing in Palmyra was primarily built before 1939 ( 47.38%), making the housing stock in Palmyra some of the oldest overall in America, although there is a range of ages of homes in Palmyra. The next most important housing age is between 1940-1969 ( 27.60%), followed by between 1970-1999 ( 22.75%). There's also some housing in Palmyra built between 2000 and later ( 2.26%).

Palmyra Home Appreciation Rates

Appreciation rates for homes in Palmyra have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.05%, which ranks in the top 50% nationwide. This equates to an annual average Palmyra house appreciation rate of 0.30%.

Over the last year, Palmyra appreciation rates have trailed the rest of the nation. In the last twelve months, Palmyra's appreciation rate has been 1.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palmyra were at -0.57%, which equates to an annual appreciation rate of -2.26%.

Notably, Palmyra's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Palmyra's latest annual appreciation rate is lower than 70% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$93,229

Palmyra, NY HOME PRICES

Value Range
> $1,040,000 0.0
$780,001 - $1,040,000 0.2
$520,001 - $780,000 0.0
$416,001 - $520,000 0.0
$312,001 - $416,000 0.2
$208,001 - $312,000 0.4
$104,001 - $208,000 35.4
$52,001 - $104,000 62.2
$0 - $52,000 1.5

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
81.9172623930622 87.5420875420875

Number Of Homes And Apartments:
1,491

Palmyra Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
14.78% 0.80% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$889 / per month

Homeownership Rate

Homeownership
Owners 49.70
Renters 50.30
Vacant 3.62

Housing Market Details

 

Age of Homes

AGE OF Palmyra HOMES
2000 or Newer 2.3
1970 - 1999 22.8
1940 - 1969 27.6
1939 or Older 47.4

Types of Homes

TYPE OF Palmyra HOMES
Single-Family 49.4
Townhomes 1.8
Small Apt. Buildings 27.1
Apt. Complexes 21.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Palmyra HOMES
No Bedroom 1.81
1 Bedroom 14.16
2 Bedrooms 40.85
3 Bedrooms 28.64
4 Bedrooms 12.15
5 or more bedrooms 2.39

Popular Neighborhoods in Palmyra

Zip Codes in Palmyra, NY